Skincare brand SkinInspired raises $1.5 million in a seed round led by Unilever Ventures

Skincare brand SkinInspired has raised Rs 12.25 crore (or approximately $1.5 million) in a seed funding round led by Unilever Ventures.

Notable angel investors, such as Dr Vaidya’s co-founder Arjun Vaidya, also participated in the round.

The brand plans to use the raised capital for research and development initiatives, strategic marketing efforts, and strengthening the brand's go-to-market strategy.

Who are the founders?

Founded in 2022 by FMCG veteran Piyush Jain and Dermatologist Dr. Prashant Agrawal, SkinInspired is a high-performance skincare brand.

Made safe and formulated with multiple proprietary active ingredient blends, SkinInspired offers a curated range of assorted products based on skin types in four categories: face wash, face serum, sunscreen, and moisturizer.

The brand has also introduced what it claims to be India’s first refillable skincare line, featuring airless jars and pumps designed to preserve product efficacy and promote sustainability - addressing a significant gap in the Indian Skincare market. It also meets the expectations of clean beauty and transparent skincare.

Leadership comments

Piyush Jain, Founder and CEO of SkinInspired, a BPC stalwart and former Director at P&G, said, "SkinInspired epitomises the fusion of efficacious ingredient blends, delightful textures, and functional packaging, delivering a luxurious skincare experience with global resonance. We aim to elevate 'I-beauty' onto the global stage, benchmarking our formulations against the best worldwide." 

Pawan Chaturvedi, Partner-Asia at Unilever Ventures, said, "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.” 

Dr. Prashant Agrawal, a renowned Dermatologist, Co-founder, and Chief of Products at SkinInspired, said, "We are trying to raise the bar on efficacy, experience, and transparency in skincare through curated informational content on our social media handles."

The startup said that the Indian skincare industry reached a size of $3 billion in 2023, with demand anticipated to grow at a CAGR of 14.6% over the forecast period. The industry is predicted to increase to $13 billion in 2034.