Monday, July 15, 2024

CureSkin Latest Funding Round Hits $20 Million Milestone

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CureSkin, a beauty and personal care brand, recently secured $20 million in a Series B funding round led by Healthquad, with JSW Ventures, Khosla Ventures, and Sharrp Ventures also participating.

This brings the total funding raised by CureSkin to $26 million, including a $5 million Series A round in March 2022. The funds will be used to further enhance its AI capabilities and expand its range of solution offerings.

Jar full with coins representing funding

Startup established in 2017 by Guna Kakulapati, Ramakrishna Rajanna, and Dr. Charu Sharma, CureSkin uses technology to analyze skin conditions such as acne, hyperpigmentation, and hair loss, offering personalized treatment kits and care plans.

Bengaluru-based company has assisted over 1.5 million users, with approximately 80% of them located in tier II and III cities.

Startup Received Funding

CureSkin reported revenue of Rs 35.46 crore in FY23, compared to Rs 2.57 crore in FY22, although its losses also increased during the period. Following the Series A round, Kakulapati held a 28% stake in the company, while Rajanna held 12%.

Investors like JSW Ventures and Khosla Ventures also acquired significant stakes in the firm. CureSkin faces competition from companies like Clinikally, another Y Combinator alumnus, which raised $2.6 million in funding in September last year.

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