KorinMi raises ₹3 crore, turns profitable, expands D2C & clinics
In a significant development for the Indian beauty and skin care industry, KorinMi, India’s first Korean skin clinic, has secured a pre-seed funding round of ₹3 crore from a consortium of investors led by Vikas Agarwal, ex-CEO of Kaya UAE, and Vivek Kumar from Venture Garage. This milestone marks a significant turning point for the startup, which has achieved profitability within just six months of its inception.
Founded in 2024, KorinMi is a unique blend of Korean technology and Indian skin needs. The clinic offers customized skin care solutions to Indian consumers, leveraging the expertise of Korean dermatologists and estheticians. The company’s focus on providing high-quality, personalized treatments has resonated with Indian consumers, leading to rapid growth and profitability.
The pre-seed funding round will enable KorinMi to expand its operations and further penetrate the Indian market. The company plans to open 25 more clinics across the country, in addition to its existing two, in the next few months. This aggressive expansion strategy is aimed at increasing its footprint and making high-quality skin care solutions more accessible to Indian consumers.
In addition to expanding its clinic network, KorinMi is also entering the Direct-to-Consumer (D2C) space with a range of professional Korean skincare products. The company has developed a line of products that cater specifically to Indian skin types and concerns, offering consumers a convenient and affordable way to achieve healthy, glowing skin. This move is expected to further accelerate KorinMi’s growth and cement its position as a leading player in the Indian skin care market.
The success of KorinMi is a testament to the growing demand for high-quality skin care solutions in India. The country’s beauty and personal care market is expected to reach ₹83,000 crore by 2025, driven by increasing awareness of skin health and the growing demand for premium products.
KorinMi’s founder and CEO, [Name], attributed the company’s rapid growth and profitability to its focus on providing high-quality, personalized services and products. “We are thrilled to have secured this pre-seed funding round, which will enable us to further expand our operations and penetrate the Indian market,” said [Name]. “Our unique blend of Korean technology and Indian skin needs has resonated with consumers, and we are confident that our D2C products will further accelerate our growth.”
The investors who participated in KorinMi’s pre-seed funding round are equally optimistic about the company’s potential. “KorinMi has demonstrated remarkable growth and profitability within a short span of time,” said Vikas Agarwal, ex-CEO of Kaya UAE. “We believe that the company has a unique value proposition and a strong growth potential, and we are excited to be a part of its journey.”
KorinMi’s pre-seed funding round is a significant development for the Indian startup ecosystem, highlighting the growing interest in beauty and skin care startups. The company’s success is expected to inspire other entrepreneurs to explore this space, further driving innovation and growth in the Indian beauty and personal care market.
In conclusion, KorinMi’s pre-seed funding round of ₹3 crore is a significant milestone for the company, marking a major step towards its growth and expansion plans. With its focus on providing high-quality, personalized skin care solutions and products, KorinMi is poised to make a significant impact in the Indian beauty and skin care industry.
Source: https://startuptalky.com/news/korinmi-raised-pre-seed-funding-round/
