CureSkin, a beauty and personal care brand, has raised $20 million in a Series B funding round led by Healthquad. The round also saw participation from JSW Ventures, Khosla Ventures, and Sharrp Ventures.
The company has raised $26 million to date including a $5 million Series A in March 2022. It was a part of Y Combinator Summer Batch in 2017.
The new funds will be utilised to enhance AI capabilities further and broaden its range of solution offerings, CureSkin said in a press release.
Founded in 2017 by Guna Kakulapati, Ramakrishna Rajanna and Dr Charu Sharma, CureSkin uses tech to analyze users’ skin conditions such as acne, hyperpigmentation, and hair loss with high accuracy and recommends a personalized treatment kit and care plan.
The Bengaluru-based company has helped over 1.5 million users and uses more than 10 million skin pixels to determine up to 2,000 facial attributes to understand the concerns of users.
Cureskin also said that about 80% of the company’s existing users are in tier II and III cities.
Cureskin registered Rs 35.46 crore in revenue from operations in FY23 against Rs 2.57 crore in total revenue in FY22, according to startup data intelligence platform TheKredible. During the period, its losses also jumped to Rs 28 crore from Rs 2.57 crore.
As of Series A round, the company’s chief executive Kakulapati had 28% stake in the firm followed by Rajanna who held 12% of the company. Among the investors, JSW Ventures had 10.4% stake whereas Khosla Ventures acquired 8% in the firm during the last round. Check TheKredible for more details.
Cureskin competes with a clutch of companies including Clinikally, which was also a part of Y Combinator’s accelerator program and raised $2.6 million in September last year.
