KorinMi Raises ₹3 Crore, Turns Profitable, Expands D2C & Clinics
In a significant development, KorinMi, India’s first Korean skin clinic, has secured a pre-seed funding round of ₹3 crore from prominent investors, including Vikas Agarwal (ex-CEO, Kaya UAE) and Vivek Kumar (Venture Garage). This funding round not only marks a significant milestone for the startup but also underscores its potential to revolutionize the Indian skincare industry with its unique blend of Korean technology and Indian skin needs.
Founded in 2024, KorinMi is a pioneering venture that has disrupted the traditional skincare segment by introducing Korean skincare solutions to the Indian market. The startup’s innovative approach has resonated with Indian consumers, who are increasingly seeking effective and affordable skincare treatments. With this significant funding, KorinMi is poised to expand its reach and offerings, solidifying its position as a leader in the Indian skincare industry.
A Profitable Venture
What sets KorinMi apart from its competitors is its impressive financial performance. The startup has achieved profitability within just six months of its inception, a remarkable feat that underscores its potential for long-term success. This achievement is a testament to the startup’s efficient operations, effective marketing strategies, and commitment to providing high-quality services to its clients.
Expansion Plans
With its pre-seed funding secured, KorinMi is now set to expand its operations in a big way. The startup plans to establish 25 more clinics across India, in addition to the two existing clinics it operates in Bengaluru and Hyderabad. This aggressive expansion plan is aimed at increasing KorinMi’s footprint in the country and making its services more accessible to a wider audience.
In addition to expanding its clinic network, KorinMi is also entering the direct-to-consumer (D2C) space with a range of professional Korean skincare products. These products are designed to cater to the specific skin needs of Indian consumers, offering them a comprehensive skincare solution that is both effective and affordable.
D2C foray
KorinMi’s D2C foray is a strategic move aimed at increasing customer engagement and loyalty. The startup’s D2C platform will offer a range of products that are designed to address specific skin concerns, such as acne, pigmentation, and fine lines. These products will be available online, allowing customers to purchase them conveniently and have them delivered to their doorstep.
The D2C space is rapidly growing in India, with more and more consumers opting for online shopping to purchase their daily essentials. KorinMi’s entry into the D2C space is expected to increase its customer base and provide a new revenue stream for the startup.
Investor Insights
The pre-seed funding round for KorinMi was led by Vikas Agarwal, the ex-CEO of Kaya UAE, who is known for his expertise in the beauty and wellness industry. Other investors who participated in the round include Vivek Kumar of Venture Garage, a well-known startup accelerator.
In a statement, Vikas Agarwal said, “KorinMi has the potential to revolutionize the Indian skincare industry with its unique blend of Korean technology and Indian skin needs. We believe that the startup’s innovative approach and commitment to providing high-quality services will enable it to achieve significant growth and success.”
Conclusion
KorinMi’s pre-seed funding round of ₹3 crore is a significant milestone that underscores the startup’s potential to disrupt the Indian skincare industry. With its profitable business model, aggressive expansion plans, and entry into the D2C space, KorinMi is poised to become a leader in the Indian skincare industry.
As the startup continues to grow and expand, it is expected to create new opportunities for employment and economic growth. KorinMi’s success is a testament to the power of innovation and entrepreneurship, and it is an inspiration to startups and entrepreneurs across the country.
Source:
https://startuptalky.com/news/korinmi-raised-pre-seed-funding-round/
