KorinMi Raises ₹3 Crore, Turns Profitable, Expands D2C & Clinics
In a significant development in the Indian beauty and wellness space, KorinMi, India’s first Korean skin clinic, has raised a pre-seed funding round of ₹3 crore from a group of investors led by Vikas Agarwal, the former CEO of Kaya UAE, and Vivek Kumar, a prominent angel investor and founder of Venture Garage. This funding round is a testament to the growing interest in the Indian beauty market and the potential of KorinMi’s unique blend of Korean technology and Indian skin needs.
Founded in 2024, KorinMi has made rapid progress in a short span of time. The company has achieved profitability within just six months of its inception, a remarkable feat in the competitive beauty and wellness industry. With this funding, KorinMi plans to expand its operations, open new clinics, and enter the direct-to-consumer (D2C) space with professional Korean skincare products for Indian consumers.
A Unique Blend of Korean Technology and Indian Skin Needs
KorinMi is the brainchild of Dr. Sangeeta Vyas, a dermatologist with over a decade of experience in the field. Her vision was to create a platform that combines the best of Korean skincare technology with Indian skin needs. Korean skincare is renowned for its emphasis on prevention, customization, and results-driven products, which resonates well with Indian consumers who are increasingly looking for effective and affordable skincare solutions.
KorinMi’s clinics, which are already operational in two locations, offer a range of services including consultations, skin analysis, and customized treatment plans. The company’s team of experienced dermatologists and skincare experts use cutting-edge technology and products to provide personalized solutions to customers.
Expansion Plans and D2C foray
With the funding, KorinMi plans to expand its operations to 25 more clinics across India. The company is also entering the D2C space with a range of professional Korean skincare products that cater to Indian skin types and concerns. The D2C products will be available on KorinMi’s e-commerce platform, which will offer a seamless shopping experience to customers.
KorinMi’s D2C products will be formulated to address specific Indian skin concerns such as hyper-pigmentation, acne, and aging. The products will be backed by scientific research and will be developed in collaboration with leading Korean skincare brands. The company plans to leverage its existing customer base and clinic network to promote its D2C products and create a loyal customer following.
Impact on the Indian Beauty and Wellness Market
KorinMi’s funding and expansion plans have significant implications for the Indian beauty and wellness market. The company’s focus on Korean skincare technology and Indian skin needs is likely to disrupt the traditional skincare industry, which has been dominated by Western brands and generic products.
KorinMi’s entry into the D2C space is also expected to create a new wave of competition in the online beauty and wellness market. The company’s focus on professional products and personalized solutions is likely to resonate well with Indian consumers who are increasingly looking for effective and trustworthy skincare solutions.
Conclusion
KorinMi’s pre-seed funding round is a significant milestone in the company’s journey to become a leading player in the Indian beauty and wellness market. The company’s unique blend of Korean technology and Indian skin needs has resonated well with customers, and its expansion plans and D2C foray are likely to create a new wave of competition in the industry.
As KorinMi continues to grow and expand its operations, it will be interesting to track its progress and impact on the Indian beauty and wellness market. With its focus on quality, customer service, and innovation, KorinMi is well-positioned to become a leader in the industry and a go-to destination for Indian consumers seeking effective and professional skincare solutions.
Source: https://startuptalky.com/news/korinmi-raised-pre-seed-funding-round/
