KorinMi raises ₹3 crore, turns profitable, expands D2C & clinics
The Indian skincare market has witnessed a significant surge in recent years, driven by increasing awareness about the importance of skincare and the rise of social media influencers promoting various products. Amidst this growth, KorinMi, India’s first Korean skin clinic, has made a mark by raising ₹3 crore in pre-seed funding from prominent investors. Founded in 2024, KorinMi has successfully blended Korean technology with Indian skin needs to provide effective solutions to consumers.
The Funding Round
The pre-seed funding round was led by Vikas Agarwal, the former CEO of Kaya UAE, and Vivek Kumar, Venture Garage. Other investors also participated in the round, which is a testament to the potential of KorinMi’s unique business model. The funding will be utilized to expand the company’s clinic network and accelerate its direct-to-consumer (D2C) efforts.
Profitability within Six Months
KorinMi’s impressive growth is not limited to its funding round. The company has achieved profitability within just six months of its inception, a remarkable feat in the competitive skincare industry. This achievement is a testament to the company’s focus on providing high-quality products and services that cater to the specific needs of Indian consumers.
Expansion Plans
KorinMi currently operates two clinics in India, with plans to expand its network to 25 clinics across the country in the near future. The company is looking to establish a strong presence in major cities such as Delhi, Mumbai, and Bengaluru. With its expansion plans, KorinMi aims to increase its reach and provide its services to a larger customer base.
D2C foray
In addition to its clinic expansion plans, KorinMi is also venturing into the D2C space with the launch of its professional Korean skincare products for Indian consumers. The company has identified a gap in the market for high-quality, affordable Korean skincare products that cater to Indian skin types. KorinMi’s D2C products will be available online and will offer a range of products that are tailored to Indian skin needs.
Competitive Advantage
KorinMi’s unique blend of Korean technology and Indian skin needs provides it with a competitive advantage in the market. The company’s products and services are designed to cater to the specific needs of Indian consumers, who often have different skin concerns than those in Korea. KorinMi’s expertise in Korean skincare technology, combined with its understanding of Indian skin needs, makes it well-positioned to capitalize on the growing demand for skincare products in India.
Impact on the Industry
KorinMi’s success is expected to have a significant impact on the Indian skincare industry. The company’s focus on providing high-quality products and services that cater to Indian skin needs is likely to set a new standard for the industry. KorinMi’s expansion plans will also create new job opportunities and contribute to the growth of the Indian economy.
Conclusion
KorinMi’s pre-seed funding round, profitability, and expansion plans are significant milestones for the company. With its unique blend of Korean technology and Indian skin needs, KorinMi is well-positioned to capitalize on the growing demand for skincare products in India. As the company continues to expand its clinic network and D2C offerings, it is likely to play a major role in shaping the future of the Indian skincare industry.
Source
https://startuptalky.com/news/korinmi-raised-pre-seed-funding-round/
