Skincare brand Conscious Chemist has raised Rs 1 crore in debt capital from Recur Club. The company was featured in Shark Tank India Season – III but did not get any funding from there.
The company plans to utilise the funds on its marketing initiatives to amplify its voice, diversify its product categories, and establish offline retail outlets, Conscious Chemist stated in a press release.
Co-founded in 2019 by Robin Gupta and Prakher Mathur, the brand serves B2C space which offers skin care products and its catalogue includes such as cleanser, moisturiser, sunscreens, face masks, serums, and more.
The Gurugram-based company says that it sells more than 25,000 units monthly and has over 4,00,000 customers on its platform. It is available nationwide through retail chains like Health & Glow and Shoppers Stop. Conscious Chemist also plans to intensify its online market penetration to expand its digital footprint while optimising retail outlets.
The other major players in this space are Mamaearth, SUGAR Cosmetics, mCaffeine, Color Bar, Kay Beauty and others.
Recur Club invests in startups on three core premises: average revenue run rate (ARR) of at least Rs 1 crore, six months runway and positive revenue growth. Recur Club makes money by charging 0.5% from borrowers and lenders.
In a recent interview with Entrackr, Recur’s co-founder and CEO Eklavya Gupta said that the firm’s priority is to onboard 500 – 700 startups this year and deploy Rs 2,000 crore through its platform.
