In a Series A funding round headed by Spring Marketing Capital, Udaipur-based dermaceutical skincare company SkinInspired has raised $2.9 million (Rs 24 crore).
Arihant Patni of Patni Financial Advisors and Lotus Herbals’ Beauty Innovation Fund also took part in the round. Unilever Ventures, a current investor, also took part.
Earlier in July 2024, Unilever Ventures and other investors led a seed round that raised Rs 12.25 crore, or roughly $1.5 million.
The money raised will go toward expanding the team, investing in brand development, and scaling research and product innovation. As it grows in the Indian dermaceutical skincare market, SkinInspired also intends to expand distribution.
SkinInspired, which was founded in 2022 by dermatologist Dr. Prashant Agrawal and FMCG veteran Piyush Jain, focuses on efficacy-led, clinically tested skincare products created in partnership with dermatologists. The business reports high repeat usage throughout its portfolio and collaborates with more than 200 dermatologists.
According to Agrawal, the company will continue to uphold vegan and cruelty-free standards while placing a high priority on formulation quality, ingredient transparency, and clinical validation.
Angel investors Arjun Vaidya, Ruchi Kohli, Chinmaya Goyal, Ana Kapur, Jivraj Singh Sachar, and Swapnil Sheth also support SkinInspired.
