Personalised skincare brand SkinQ has raised Rs 3 crore in a seed funding round led by Inflection Point Ventures with participation from venture catalysts and super angels. The business will use the funds to launch new products, expand its team, and for further research and development.
“By embracing the melanin-rich skin of Indians, SkinQ aims to revolutionise skincare by recognising the unique needs of Indians,” said Inflection Point Ventures partner Ivy Chin in a press release on December 28. “By addressing the distinct requirements of the melanin-rich skin, SkinQ has the potential to captivate the hearts of millions, who can truly appreciate the difference in its products.”
SkinQ’s dermatologically tested products are designed specifically for melanin-rich skin and its offering secured the business a finalist spot at the ‘Beauty & You’ awards by Estee Lauder and Nykaa in November this year. SkinQ aims to reach 10 million customers in the next three years and its new funding injection will help to further this goal by enhancing its market presence.
“Everyone deserves to have healthy glowing skin and access to best in the class solutions celebrating the diversity and uniqueness of Indian skin and melanin rich skin,” said SkinQ’s founder Chytra Anand. “With over two thirds of the world’s population being melanin rich there is an under representation with only 8% of skin solutions solving for them globally. The alliance with IPV and our investors is a strategic enabler in our quest to redefine the skincare paradigm through a fusion of scientific ingenuity and technological innovation. This capital infusion is pivotal in augmenting our research and development bandwidth, enriching our bespoke product portfolio, and amplifying our outreach to a discerning customer base.”
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