Mumbai-based skincare brand ClayCo Cosmetics has secured $2 Mn (INR 16 Cr) in its Series A funding round led by Unilever Ventures.
The͏͏ company͏͏ intends͏͏ to͏͏ utilise͏͏ the͏͏ new͏͏ capital͏͏ to͏͏ enhance͏͏ its͏͏ branding͏͏ and͏͏ broaden͏͏ its͏͏ product͏͏ portfolio.
Founded͏͏ in͏͏ March͏͏ this͏͏ year͏͏ by͏͏ Niharika Jhunjhunwala,͏͏ ClayCo͏͏ Cosmetics͏͏ is͏͏ a͏͏ premium͏͏ skincare͏͏ brand͏͏ that͏͏ seamlessly͏͏ blends͏͏ ancient͏͏ beauty͏͏ rituals͏͏ with͏͏ modern͏͏ science.
Founder͏͏ Outlines͏͏ Growth͏͏ Plans͏͏ for͏͏ ClayCo Cosmetics:
“This͏͏ funding͏͏ will͏͏ allow͏͏ us͏͏ to͏͏ boost͏͏ brand͏͏ awareness,͏͏ launch͏͏ new͏͏ products,͏͏ invest͏͏ in͏͏ R&D,͏͏ and͏͏ drive͏͏ our͏͏ growth.͏͏ With͏͏ consumers͏͏ increasingly͏͏ recognising͏͏ global͏͏ ingredients͏͏ like͏͏ fermented͏͏ rice,͏͏ ginseng,͏͏ and͏͏ Cica͏͏ (Centella͏͏ asiatica),͏͏ they͏͏ are͏͏ more͏͏ inclined͏͏ to͏͏ invest͏͏ in͏͏ high-quality,͏͏ effective͏͏ skincare,”͏͏ said͏͏ Jhunjhunwala.
Continue͏͏ Exploring:͏͏ SkinInspired͏͏ raises͏͏ INR͏͏ 12.2͏͏ Cr͏͏ seed͏͏ funding͏͏ to͏͏ redefine͏͏ skincare
Growth͏͏ Potential͏͏ in͏͏ the͏͏ BPC͏͏ Market:
This͏͏ development͏͏ comes͏͏ as͏͏ the͏͏ Indian͏͏ beauty͏͏ and͏͏ personal͏͏ care͏͏ (BPC)͏͏ market͏͏ is͏͏ experiencing͏͏ rapid͏͏ growth.͏͏ According͏͏ to͏͏ a͏͏ report,͏͏ the͏͏ BPC͏͏ market͏͏ is͏͏ expected͏͏ to͏͏ reach͏͏ $28͏͏ Bn͏͏ by͏͏ 2030,͏͏ accounting͏͏ for͏͏ 7%͏͏ of͏͏ the͏͏ overall͏͏ ecommerce͏͏ market.
The͏͏ sector͏͏ has͏͏ attracted͏͏ over͏͏ $1͏͏ Bn͏͏ in͏͏ funding͏͏ from͏͏ 2014͏͏ to͏͏ H1͏͏ 2024,͏͏ driven͏͏ by͏͏ high͏͏ margins͏͏ and͏͏ innovative͏͏ product͏͏ offerings.
This͏͏ year,͏͏ the͏͏ BPC͏͏ sector͏͏ witnessed͏͏ investments͏͏ such͏͏ as͏͏ Pilgrim͏͏ raising͏͏ $9͏͏ Mn͏͏ in͏͏ August͏͏ 2024,͏͏ with͏͏ funding͏͏ led͏͏ by͏͏ Fireside͏͏ Ventures͏͏ and͏͏ Vertex͏͏ Ventures.
In͏͏ June,͏͏ Foxtale͏͏ secured͏͏ $18͏͏ Mn͏͏ in͏͏ Series͏͏ B͏͏ funding,͏͏ led͏͏ by͏͏ Panthera͏͏ Growth͏͏ Partners.͏͏ Additionally,͏͏ Conscious͏͏ Chemist͏͏ raised͏͏ $1.4͏͏ Mn͏͏ from͏͏ Atomic͏͏ Capital͏͏ this͏͏ month.
