6-months-old skincare startup ClayCo Cosmetics raises Rs 16 crore from Unilever Ventures

Six-month-old skincare brand ClayCo Cosmetics has secured $2 million (or around Rs 16 crore) in a Series A funding round from Unilever Ventures, Unilever's venture capital and private equity arm.

The newly launched startup plans to use the raised capital to scale its operations, enhance its product offerings, and ramp up marketing efforts.

The investment would also help in launching a Moroccan-inspired body care range, allowing the brand to diversify its portfolio beyond its current selections.

Strengthening marketing strategies

ClayCo Cosmetics aims to intensify its customer engagement initiatives, drive research and innovation, and strengthen its marketing strategies to attract a wider audience.

“We are thrilled to partner with Unilever Ventures, a pioneer in the beauty industry," said Niharika Jhunjhunwala, founder of ClayCo Cosmetics. 

"Their support aligns perfectly with our long-term goals. This funding will enable us to enhance brand awareness, introduce new products, invest in R&D, and fuel our growth. As consumers become more aware of global ingredients like fermented rice, ginseng, and CICA, they are willing to invest in high-quality, efficacious skincare," Jhunjhunwala added.

ClayCo Cosmetics aims to intensify its customer engagement initiatives, drive research and innovation, and strengthen its marketing strategies to attract a wider audience.

“We are thrilled to partner with Unilever Ventures, a pioneer in the beauty industry," said Niharika Jhunjhunwala, founder of ClayCo Cosmetics. 

"Their support aligns perfectly with our long-term goals. This funding will enable us to enhance brand awareness, introduce new products, invest in R&D, and fuel our growth. As consumers become more aware of global ingredients like fermented rice, ginseng, and CICA, they are willing to invest in high-quality, efficacious skincare," Jhunjhunwala added.

Credit - Indian Startup News