Dermocosmetics startup SkinQ has successfully secured a seed investment of INR 3 crore from Inflection Point Ventures, in collaboration with Venture Catalysts and Super Angels.
The funds will be allocated for the introduction of new products, research and development, team expansion, and the enhancement of the brand.
Established by Dr. Chytra V Anand and Meera Iyer, the startup focuses on catering to melanin-rich skin and aims to reach 10 million customers in the next three years.
“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,” Anand said.
The startup is the first Indian-origin dermo-cosmetics retail brand in dermatology offices and MedSpas in the United States.
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, it has the potential to captivate the hearts of millions, who can truly appreciate the difference in its products.”
The startup clinched a spot as a finalist at the Beauty & You awards presented by Estee Lauder & Nykaa in November this year. Its sunscreens were ranked among the top 5 by Vogue Beauty Awards and the top 4 by Elle Beauty Awards.
Inflection Point Ventures (IPV) stands as an angel investing platform boasting over 9600 CXOs, HNIs, and professionals actively investing in startups. The firm aids new-age entrepreneurs by offering both financial and experiential capital, while also facilitating connections with a diverse group of investors.
