Skincare brand Minimalist has raised Series-A funding of Rs 110 crore ($15 million). The funding round led by Sequoia Capital India, with participation from Unilever ventures saw multiple international investors in just nine months of inception.
The skincare startup plans to utilise these funds to enhance its infrastructure and R&D capabilities, and launch in global markets as well. Launched in 2020, by Mohit Yadav and Rahul Yadav, the brand is committed to bringing transparency and efficacy in the personal care segment.
As per the statement by Mohit Yadav, “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.”
On the investment side, 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. Having seen the power of Mohit and Rahul’s execution over many years, Sequoia Capital India is thrilled to lead the Series A financing in the company,”
The brand has a diverse portfolio of skincare products, retailing through its own website and portals such as Amazon, Nykaa, Flipkart and more. The company claims to have a customer base of over one million.
The beauty and personal care sector has been gaining attraction from investors. Recently, MyGlamm, a D2C beauty brand also raised Rs 355 crore, as reported by Indiaretailing, on Tuesday.