Skincare brand SkinInspired announced on Monday that it has successfully raised ₹12.25 crore ($1.5 million) in a seed funding round led by Unilever Ventures, the venture capital and private equity arm of FMCG giant Unilever. The round also saw participation from notable angel investors, including Arjun Vaidya, co-founder of Dr Vaidya’s.
Founded in 2022 by FMCG veteran Piyush Jain and renowned dermatologist Dr. Prashant Agrawal, SkinInspired has quickly established itself in the skincare industry. The brand offers a diverse range of products tailored to different skin types, including face wash, face serum, sunscreen, and moisturizer. The infusion of capital from this seed funding round is set to bolster SkinInspired’s research and development initiatives, strategic marketing efforts, and strengthen its go-to-market strategy.
“SkinInspired epitomizes the fusion of efficacious ingredient blends, delightful textures, and functional packaging, delivering a luxurious skincare experience with global resonance,” said Piyush Jain, co-founder of SkinInspired. The brand’s commitment to quality and innovation has set it apart in the competitive skincare market, earning it early acclaim from both consumers and dermatologists.
Pawan Chaturvedi, Partner-Asia at Unilever Ventures, expressed excitement about the collaboration, stating, “Dermaceutical brands represent one of the fastest-growing segments in India and globally. We are thrilled to collaborate with SkinInspired, a brand that has carved out a distinct niche within a fiercely competitive landscape, garnering early acclaim from consumers and the dermatologists community alike.”
The funds raised will primarily be allocated towards expanding SkinInspired’s research and development capabilities. This includes exploring new formulations and enhancing existing products to ensure they meet the highest standards of efficacy and safety. Additionally, a portion of the investment will be directed towards strategic marketing initiatives aimed at increasing brand visibility and consumer engagement. Strengthening the brand’s go-to-market strategy is also a key focus, ensuring that SkinInspired products are easily accessible to a broader audience.
The skincare industry, particularly the dermaceutical segment, is experiencing rapid growth in India and around the world. SkinInspired’s ability to attract significant investment from a major player like Unilever Ventures underscores its potential and the confidence investors have in its business model and vision. The collaboration between SkinInspired and Unilever Ventures is poised to drive innovation and set new standards in the skincare industry.
