Minimalist, the new-age homegrown skincare brand, has raised Series A funding of Rs 110 crore, (approx $15 million) led by Sequoia Capital India, with participation from Unilever Ventures. The round also saw multiple international investors in just nine months of its inception.
Minimalist plans to utilize the funds to enhance its infrastructure and R&D capabilities, launch in global markets, as well as double down on its content creation efforts by sharing well-researched knowledge about skincare with its consumers. The company intends to enter the Middle East and Southeast Asian markets.
Launched in 2020 by Mohit and Rahul Yadav, Minimalist, which is a mission-driven brand committed to bringing high-levels of efficacy and transparency to the personal care segment, is rapidly gaining popularity due to its values and ethos. It has over one million customers, and is the fastest-growing skincare brand in India.
“Consumers today are looking beyond marketing claims and are seeking efficacy-based skincare products,” Mohit Yadav said. “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.”
Having a portfolio of diverse skincare and hair care products, the brand retails through its own website, along with ecommerce giants like Amazon, Nykaa, Flipkart, Myntra, and numerous other marketplaces. Minimalist currently offers 20 products — ranging from serums, toners, face acids, and moisturizers that are well-researched, backed by proven science, safe, effective, mindfully created, and suited for all skin types.
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.
Recently, new age D2C beauty brands have attracted significant investor interest. D2C brand MyGlamm has raised ₹355 crores led by Accel. In March, Juicy Chemistry raised $6.3 million in Series A funding.
Also, Read This: Mumbai Based Startup MyGlamm Raised INR 175 Crores From Amazon