KorinMi Raises ₹3 Crore, Turns Profitable, Expands D2C & Clinics
In a significant development for the Indian beauty and wellness industry, KorinMi, the country’s first Korean skin clinic, has raised a pre-seed funding round of ₹3 crore from a group of investors led by Vikas Agarwal, ex-CEO of Kaya UAE, and Vivek Kumar, Managing Partner at Venture Garage. This milestone marks a significant turning point for KorinMi, which has achieved profitability within just six months of its inception.
Founded in 2024, KorinMi is a unique concept that blends the best of Korean technology with Indian skin needs. The clinic offers a range of treatments and products that cater to the specific skin concerns of Indian consumers, leveraging the popularity of Korean beauty products and skincare trends.
The pre-seed funding round, which was announced recently, will be used to expand KorinMi’s clinic network and enter the Direct-to-Consumer (D2C) space. The company plans to open 25 more clinics across the country, in addition to its existing two locations in Delhi and Gurgaon.
KorinMi’s D2C foray is aimed at making professional Korean skincare accessible to Indian consumers. The company will offer a range of products, including serums, moisturizers, and sunscreens, that are designed to meet the specific skin needs of Indian consumers. This move is expected to further solidify KorinMi’s position as a leading player in the Indian beauty and wellness market.
Speaking about the funding round, Rohan Suri, Co-Founder of KorinMi, said, “We are thrilled to have received this pre-seed funding from a group of experienced investors. This funding will enable us to scale our operations and expand our reach across the country. We believe that our unique blend of Korean technology and Indian skin needs will resonate with consumers, and we are excited to bring professional Korean skincare to the Indian market.”
KorinMi’s success is a testament to the growing popularity of Korean beauty products and skincare trends in India. The company’s focus on providing high-quality, results-driven treatments and products has resonated with consumers, who are increasingly looking for effective solutions to address their skin concerns.
The pre-seed funding round is a significant milestone for KorinMi, which has achieved profitability within just six months of its inception. This achievement is a testament to the company’s strong business model and its ability to execute effectively.
In a statement, Vikas Agarwal, ex-CEO of Kaya UAE, said, “I am impressed by KorinMi’s innovative approach to skincare and its ability to adapt Korean technology to Indian skin needs. I believe that the company has huge potential for growth, and I am excited to be a part of its journey.”
KorinMi’s expansion plans are expected to create new job opportunities in the beauty and wellness industry, and the company is committed to working with local partners and suppliers to promote sustainable growth.
In conclusion, KorinMi’s pre-seed funding round is a significant development for the Indian beauty and wellness industry. The company’s unique blend of Korean technology and Indian skin needs has resonated with consumers, and its expansion plans are expected to create new job opportunities and promote sustainable growth.
Source: https://startuptalky.com/news/korinmi-raised-pre-seed-funding-round/
