Honestly, an artificial intelligence (AI)-powered beauty and personal care (BPC) platform has raised Rs 3 crore ($3,58,565) in a pre-seed funding round led by Better Capital.
QED Innovations alongside angel investors from Flipkart, Polygon, and Cred also participated in the funding round.
Honestly will utilise the funds to support its initial product launch, hiring and marketing. Additionally, it plans to scale its user base to 1 million in India and enter overseas markets.
Commenting on the funding, Vivek Madani, co-founder of Honestly in a statement said, “We are looking at BPC because the problem is grave here. You can’t return products, and the number of attributes along which you need to know whether the product is working or not, and how a person experiences a product, is very different.”
Karishma Rathaur, co-founder of Honestly added, “We’re thrilled to be backed by investors who understand the problem. This investment will enable us to build a strong engineering and marketing founding team over the next few months.”
Founded in April 2024 by Karishma Rathaur and Vivek Madani, Honestly uses AI to analyse product ingredients, assisting users in understanding how new products might fit into their existing routines.
Copyright © 2024 FashionNetwork.com All rights reserved.
