KorinMi raises ₹3 crore, turns profitable, expands D2C & clinics
The Indian beauty and wellness industry has been witnessing a significant surge in recent years, with consumers increasingly seeking innovative and effective solutions for their skin concerns. Amidst this boom, KorinMi, India’s first Korean skin clinic, has made a remarkable entry with its pre-seed funding round of ₹3 crore. Founded in 2024, KorinMi has successfully blended Korean technology with Indian skin needs, achieving profitability within just six months of its inception.
The funding round, led by ex-CEO of Kaya UAE, Vikas Agarwal, and Vivek Kumar of Venture Garage, among others, has enabled KorinMi to accelerate its growth plans. With this significant boost, the company is poised to expand its footprint in the Indian market, both in terms of its clinic network and direct-to-consumer (D2C) presence.
A unique blend of Korean technology and Indian skin needs
KorinMi’s success can be attributed to its unique approach of combining Korean technology with Indian skin needs. The clinic’s founders have a deep understanding of the Indian skin landscape, which is characterized by diverse skin types and concerns. By incorporating Korean technology, KorinMi has developed a range of innovative treatments and products that cater specifically to Indian skin concerns.
The clinic’s product range includes a range of professional Korean skincare products that are designed to address specific skin concerns such as acne, hyperpigmentation, and aging. These products are developed in collaboration with Korean skincare experts and are formulated to suit Indian skin types.
Profitable within six months
KorinMi’s remarkable growth is reflected in its financial performance. The clinic has achieved profitability within just six months of its inception, a feat that is rare in the startup ecosystem. This achievement is a testament to the clinic’s effective business model, which combines a unique blend of Korean technology and Indian skin needs.
The clinic’s profitability is also fueled by its efficient operations and cost-effective business model. KorinMi’s founders have a deep understanding of the Indian market and have developed a business model that is designed to be scalable and sustainable.
Expansion plans
With its pre-seed funding round, KorinMi is poised to expand its footprint in the Indian market. The clinic plans to open 25 more clinics across India, which will take its total clinic count to 27. This expansion plan is designed to increase the clinic’s visibility and accessibility, making its services more widely available to Indian consumers.
In addition to its clinic expansion, KorinMi is also entering the D2C space with its professional Korean skincare products. The company plans to leverage its online platform to reach a wider audience and offer its products directly to consumers.
D2C expansion
KorinMi’s D2C expansion is designed to provide Indian consumers with access to high-quality, professional Korean skincare products that are specifically formulated to address Indian skin concerns. The company’s D2C platform will offer a range of products that are designed to cater to different skin types and concerns.
The clinic’s D2C platform will also feature a range of services, including skin consultations, product recommendations, and loyalty programs. These services are designed to provide Indian consumers with a seamless and personalized experience, making it easier for them to access high-quality skincare products and services.
Conclusion
KorinMi’s pre-seed funding round of ₹3 crore is a significant milestone in the company’s journey. With its unique blend of Korean technology and Indian skin needs, KorinMi has established itself as a leader in the Indian beauty and wellness industry. The company’s profitability within six months is a testament to its effective business model, and its expansion plans are designed to increase its visibility and accessibility.
As KorinMi continues to expand its footprint in the Indian market, it is likely to disrupt the status quo in the beauty and wellness industry. With its focus on high-quality products and services, KorinMi is poised to become a household name in India, and its D2C expansion is likely to provide Indian consumers with access to innovative and effective skincare solutions.
Source: https://startuptalky.com/news/korinmi-raised-pre-seed-funding-round/
