With the help of Unilever Ventures, the beauty brand WishCare, based in Kolkata, has raised Rs 20 crore in its first institutional round.
WishCare stated in a press release that the money raised will be used to expand research and development, with a particular emphasis on creating high-efficiency products and entering both the domestic and international markets.
WishCare is a haircare and skincare product line that was co-founded in 2019 by Stuti Kothari, Ankit Kothari, and Ayush Kothari. Products include bond repair hair treatments, hair growth serums, face serums, sunscreens, and active-based body lotions.
WishCare wants to provide customers with sustainable, one-of-a-kind, hassle-free product delivery and solution services. According to the company, it places more of an emphasis on thoughtful packaging, effective and clean formulas, and charitable social initiatives.
WishCare reports that its annual revenue (ARR) has increased four times in the past year to Rs 85 crore, with double-digit EBITDA.
In addition to its own direct-to-consumer website, its products can be found on over fifteen marketplaces, including Nykaa, Amazon, FlipKart, Purplle, and Myntra. Additionally, the company claims to have over 10 lakh customers.
