Skincare brand Minimalist raises Rs 110 crore led by Sequoia Capital, Unilever Ventures

Jaipur-based skincare brand Minimalist today announced it has raised Rs 110 crore in a Series A funding round led by Sequoia Capital India, Unilever Ventures, and other global investors.

According to the startup, The raised funding will be used to enhance its infrastructure and R&D capabilities, launch in global markets, and content creation. A year-old startup claims to have served more than 1 million clients.

Speaking on the development, Mohit Yadav, Co-founder, Minimalist, said:

“Consumers today are looking beyond marketing claims and are seeking efficacy-based skincare products. Our growth so far proves that a radical change in the skincare industry is underway." Together with our customers, we are creating ‘Skincare 2.0’ by offering proven solutions driven by scientific innovations."

Founded in 2020 by Mohit Yadav and Rahul Yadav, Minimalist operates an online platform that offers skincare products such as serums, toners, face acids, and moisturizers, all made in its factories, it claims. It currently offers 20 skincare products.

The startup also retails its products through online marketplaces such as Amazon, Nykaa, Flipkart, and Myntra, besides its own website. "We are exploring offline retail as well,” Mohit said. “We will create a roadmap for offline. The plan is to sell through our own retail stores in due course, he adds.

Speaking on the investment, Shailesh Lakhani, Managing Director, Sequoia India, said:

“Minimalist's products take an efficacy-first approach using transparency and science as underpinnings to improving personal care outcomes. This has resulted in a strong following and business momentum."

Pawan Chaturvedi, Partner at Unilever Ventures, said: “Minimalist is trailblazing science-backed clean beauty formulations in India, a trend that has gained massive consumer acceptance worldwide and with growing consumer traction in India."

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