Dermocosmetics startup SkinQ raises Rs3Cr in seed round led by Inflection Point Ventures, othersn

SkinQ, a personalized skincare startup, has raised Rs 3 crore in a seed funding round led by Inflection Point Ventures, with participation from Venture Catalysts and Super Angels. The funding is a significant step for SkinQ in its mission to revolutionize skincare, particularly for melanin-rich skin.

Empowering individuals with melanin-rich skin

Founded by renowned dermatologist Dr. Chytra V Anand, SkinQ is focused on empowering individuals with melanin-rich skin, aiming to enhance their confidence and well-being. The startup aims to elevate the Skin Quotient of 10 million customers in the next three years through clinically tested solutions.

Dr. Chytra Anand, Founder, SkinQ, said, “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. With over 2/3 of the world’s population being Melanin rich there is an under representation with only 8% of skin solutions solving for them globally.

Founders & capital utilization 

SkinQ is led by Dr. Chytra Anand and co-founder Meera Iyer. Dr Anand, a globally acclaimed dermatologist, brings her expertise in skin of color, while Iyer, with her background in Chemistry, Biotechnology, and Marketing, contributes her strategic acumen.

According to the startup, the raised capital will be used for product innovation, research and development, team expansion, and enhancing market presence.

“The alliance with IPV & 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," Chytra added.

SkinQ growth 

SkinQ said it has witnessed strong month-on-month growth in its revenues and is expanding distribution channels.

It also claims to be the first Indian Origin Dermo Cosmetics brand to retail in Dermatology offices & MedSpas in the USA. It has also been recognized in the beauty industry, receiving accolades for its sunscreens and being a finalist in prestigious beauty awards.

Ivy Chin, Partner, Inflection Point Ventures, said, “By embracing the melanin-rich skin of Indians, SkinQ aims to revolutionise skincare by recognizing the unique needs of Indians . 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.”

The dermo-cosmetics market landscape

The dermocosmetics market in India is experiencing rapid growth, with projections indicating a rise from $188 million in 2021 to $450 million by 2030. Globally, the market is also expanding, expected to reach $130 billion by 2030.

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