Mumbai-based ClayCo Cosmetics secures $2 Mn in Series A funding from Unilever Ventures to expand its product line and enhance brand visibility.
Founded in 2023 ClayCo blends traditional beauty rituals with modern science, targeting consumers interested in global ingredients like fermented rice and ginseng.
The funding aligns with the growing Indian beauty and personal care market, expected to reach $28 Bn by 2030, as investors show increased interest in innovative BPC startups.
Mumbai-based skincare brand ClayCo Cosmetics has raised $2 Mn (INR 16 Cr) as a part of its Series A funding round from Unilever Ventures.
The company plans to use the fresh capital to boost its branding and expand product portfolio.
Launched in 2023 by Niharika Jhunjhunwala, ClayCo Cosmetics is a premium skincare brand which claims to seamlessly blend ancient beauty rituals with modern science.
“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 (Centella asiatica), they are willing to invest in high-quality, efficacious skincare,” said Jhunjhunwala.
The investment comes at a time when the Indian beauty and personal care (BPC) market is experiencing rapid growth. According to Inc42’s report, the BPC market is expected to reach $28 Bn by 2030, accounting for 7% of the overall ecommerce market.
The sector has seen over $1 Bn in funding between 2014 and H1 2024, with investors attracted by high margins and innovative product offerings.
This year, investments in the BPC space include Pilgrim raising $9 Mn in August 2024, led by Fireside Ventures and Vertex Ventures.
In June, Foxtale secured $18 Mn in Series B funding led by Panthera Growth Partners. Meanwhile, Conscious Chemist also raised $1.4 Mn from Atomic Capital this month.
