KorinMi raises ₹3 crore, turns profitable, expands D2C & clinics
In today’s fast-paced and competitive beauty industry, it’s not every day that a startup makes headlines by raising significant funding, turning profitable within a short span, and expanding its reach across multiple channels. However, India’s first Korean skin clinic, KorinMi, has achieved just that. With a pre-seed funding round of ₹3 crore, KorinMi has set its sights on revolutionizing the beauty landscape in India.
Founded in 2024, KorinMi is a unique blend of Korean technology and Indian skin needs. The clinic focuses on providing cutting-edge, Korean-inspired skincare solutions to Indian consumers, addressing specific skin concerns such as acne, pigmentation, and aging. With its innovative approach, KorinMi has managed to attract the attention of prominent investors, including Vikas Agarwal, ex-CEO of Kaya UAE, and Vivek Kumar, founder of Venture Garage.
The funding round, which was led by Agarwal and Kumar, saw participation from other prominent investors as well. This significant investment has enabled KorinMi to accelerate its growth plans, expand its presence, and further develop its product offerings.
Profitable within six months
What’s even more remarkable about KorinMi is its profitability. Within just six months of its inception, the clinic has managed to turn a profit. This achievement is a testament to the clinic’s focus on providing high-quality services and products, as well as its ability to effectively manage costs.
KorinMi’s profitable status has given the company the necessary momentum to expand its operations and reach new heights. With a strong foundation in place, the clinic is now poised to take its services to a wider audience, making it a significant player in the Indian beauty industry.
Expansion plans
So, what’s next for KorinMi? The clinic has ambitious plans to expand its reach across multiple channels. Firstly, KorinMi plans to open 25 more clinics across India, making it a pan-India presence. This expansion will enable the clinic to cater to a wider audience, providing its unique Korean-inspired skincare solutions to even more Indian consumers.
In addition to its clinic expansion plans, KorinMi is also entering the direct-to-consumer (D2C) space. The clinic will launch a professional Korean skincare line for Indian consumers, offering a range of products that are tailored to specific skin types and concerns. This move will enable KorinMi to reach a wider audience, beyond its clinic presence, and provide Indian consumers with access to high-quality, Korean-inspired skincare products.
A game-changer for the Indian beauty industry
KorinMi’s innovative approach, coupled with its significant funding and expansion plans, makes it a game-changer for the Indian beauty industry. The clinic’s focus on providing high-quality, Korean-inspired skincare solutions will undoubtedly disrupt the status quo, offering Indian consumers a new and exciting option.
As KorinMi continues to expand its reach and offerings, it will be interesting to see how the Indian beauty industry responds. Will other players in the market take note of KorinMi’s innovative approach and follow suit? Only time will tell.
Conclusion
In conclusion, KorinMi’s pre-seed funding round of ₹3 crore, coupled with its profitable status and expansion plans, makes it a significant player in the Indian beauty industry. With its focus on providing high-quality, Korean-inspired skincare solutions, KorinMi is poised to revolutionize the beauty landscape in India. As the clinic continues to expand its reach and offerings, it will be exciting to see how the industry responds.
Source:
https://startuptalky.com/news/korinmi-raised-pre-seed-funding-round/
