These 6 beauty and wellness startups have become hot targets for investors

According to the Research and Markets report, the beauty and wellness market in India was valued at Rs 901.07 billion in 2018, and is forecast to succeed in Rs 2,463.49 billion by 2024, increasing at a compound annual development fee (CAGR) of about 18.40 p.c in the course of the 2019-2024 interval.The per capita spending on beauty and private care merchandise was round Rs 450 every year in 2017, which is predicted to extend in the course of the 2019-2024 interval, as per the Indian Beauty and Hygiene Association (IBHA).Rise within the revenue of the middle-class and consciousness about holistic wellbeing amongst folks in India have propelled the demand for beauty merchandise and wellness providers.YourStory has curated an inventory of these not too long ago funded beauty and private care startups, that are taking the Indian beauty and wellness market to the subsequent stage with their merchandise.Believe  Founded in mid-2019 by Ankit Mahajan, the Singapore-based Believe is a client merchandise startup that sells skincare, fragrances, make-up, and hair care merchandise. It is a home of manufacturers that features Lafz, ZM, and Dr Rhazes. The startup claims that it has acquired unimaginable buyer love in Bangladesh and India with a rising base in GCC international locations. It is bought in over eight international locations and is manufactured throughout the globe together with international locations like South Korea, Italy, Spain, France, Germany, and the UAE. In April 2022, it raised Series C funding of $55 million from Venturi Partners and IIFL AMC together with the participation from Jungle Ventures, Accel, Alteria Capital and Genesis Alternative Ventures.This fundraise will assist the beauty startup catalyse consolidating market share in Bangladesh and India (through strategic acquisitions) whereas deepening attain in Gulf Cooperation Council (GCC) and SouthEast Asia (by means of each natural and inorganic development) paving the trail to turning into a big international client packaged items (CPGs) conglomerate.Over the final two years, it has cumulatively raised over $80 million. The Series A and Series B fund raises had been led by Acceland Jungle Ventures with participation from Wamda Capital, a Middle East primarily based fund.Plum Launched in 2013 by Shankar Prasad, Mumbai-based vegan skincare model Plum Goodness provides cruelty-free and toxin-free beauty merchandise throughout skincare, haircare, private care and make-up.As per the startup, its consumer base is shut to 2 million throughout on-line and offline channels and getting the very best traction from Delhi, Mumbai, Chennai amongst metros. In March 2022, it raised $35 million in a Series C spherical led by A91 Partners together with present investors Unilever Ventures and Faering Capital additionally participated within the spherical.The startup will use the raised funds to speed up product growth and advertising and marketing actions.As per the startup, the most recent funding valued the agency at $250 million (round Rs 1,900 crore).Plum has raised $50 million to date since inception.In FY21, Pureplay (Plum’s dad or mum) earned Rs 92 crore in whole income, up from Rs 53 crore earned on the similar time final yr, in response to paperwork filed with the Registrar of Companies (RoC). The firm additionally made a revenue (earlier than tax) of Rs 1.72 crore in FY20.Smytten  Founded in 2015 by former Googler Swagat Sarangi, and former Unilever govt Siddhartha Nangia, Gurugram-based Smyttenis a premium discovery and trial platform. It offers free trials and curated buying throughout 20 way of life classes like beauty, skincare, male grooming, meals and drinks, well being and wellness, and extra solely on the Smytten App.The startup says it hosts 900 D2C (direct-to-consumer) model companions on its platform throughout assorted classes and allows tens of millions of product sampling each month for them. Mamaearth, Plum, mCaffeine, and many others many main D2C manufacturers are already leveraging Smytten’s platform to succeed in related customers at scale and ship first-hand product expertise by means of sampling. Currently, the startup is current in 12 classes, and is including 5 extra classes, and class consultants. The startup claims to serve over 10 million customers, and intention so as to add over 10 million extra going ahead. Currently 70 p.c of its customers are girls. Recently, the model raised Rs 100 crore in Pre-Series B funding led by Fireside Ventures and Roots Ventures. The spherical additionally noticed participation from Sharrp Ventures, Waao Partners, Survam Partners, and Sattva Group Family Office. As of now, the startup has raised over $20 million funding. Rajan Anandan, former MD of Google India and South East Asia, and many different business veterans are additionally a few of its marquee angel investors.RENEE Cosmetics Started in 2019 by Aashka Goradia Goble together with Beardo (later acquired by FMCG main) co-founder duo Ashutosh Valani and Priyank Shah, Ahmedabad-based Renee Cosmetics is a cruelty-free beauty model providing a variety of eye make-up, lip colors, pores and skin serums and highlighters. The startup claims to have a portfolio of over 30 merchandise throughout the classes like lips, nails, eyes and face and over 50 million folks have been reached to date. It has bought over 2 million items since final yr.As per the model, it’s getting the very best traction from Bengaluru, Mumbai and Hyderabad for on-line buy and for offline it’s getting the traction in Guwahati, Ludhiana and Mumbai. In February 2022, the beauty startup raised $10 million in a Series A spherical led by Mensa Brands together with energetic participation from the prevailing investors, together with  Equanimity Investments and 9Unicorns. As of now, it has raised a complete of $11 million together with the present spherical. Last yr in October, it secured $1.5 million in a pre-Series A spherical led by Equanimity Ventures and 9Unicorns, with participation from Titan Capital.The startup plans to make use of the funds majorly in strengthening the model presence and widening offline presence. Part of the fund will even be leveraged for catalogue growth and advertising and marketing budgets.At current, it claims to clock an ARR of Rs 60 crore and is all set to succeed in Rs 150 crore by the tip of this fiscal yr.Earth Rhythm Launched in 2019 by Harini Sivakumar and her father, Gurugram-based Earth Rhythm (previously referred to as Soapworks India) provides professional-grade merchandise in haircare, skincare, and make-up strains. The merchandise are protected, non-toxic, sustainable, and biodegradable.The startup claims that its merchandise mix pure uncooked supplies and science-backed formulations with a zero-waste philosophy, and every product formulation takes anyplace from months to years to good.In April 2022, it raised $8 million from Nykaa in a Series A spherical, with participation from present investor Anicut Capital.In July final yr, clear beauty private care D2C model additionally raised $1.2 million seed funding from Anicut Angel Fund, the fairness arm of Anicut Capital.CureSkin Launched in 2017 by two former Google workers Guna (*6*) and Rama Rajanna, and dermatologist Charu Sharma, Bengaluru-based CureSkinis offering AI-dermatologists in your smartphones.It provides expert-designed personalised regimens by means of its expertise platform. It claims that it has served customers within the remotest areas throughout all states in India.The app, which is on the market on Google Play retailer, allows customers to take images and immediately get AI evaluation for zits, darkish spots, pigmentation, wrinkles, and others for free. Its expertise is constructed utilizing a database of tens of millions of photos that detect pores and skin situations with high-level of accuracy throughout totally different pores and skin sorts.Once the evaluation is full, it prepares a personalised remedy that may be bought by means of in-app transactions. The plan contains free weight loss program and way of life steering.For customers with good pores and skin, the app suggests a dermatologist designed plan to take care of wholesome pores and skin and hair.In March 2022, the beauty and private care model raised $5 million in a Series A spherical led by JSW Ventureswith participation from Sharrp Ventures, SenseAI Ventures, and different present investors.The startup plans to deploy these funds to develop its total buyer base, broaden into adjoining classes and make additional investments in expertise.Edited by Affirunisa Kankudti

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