KorinMi Raises ₹3 Crore, Turns Profitable, Expands D2C & Clinics
In a significant development in the Indian startup ecosystem, KorinMi, India’s first Korean skin clinic, has raised ₹3 crore in pre-seed funding from a group of seasoned investors, including Vikas Agarwal, the former CEO of Kaya UAE, and Vivek Kumar, founder of Venture Garage. This funding round marks a major milestone for the company, which has achieved profitability within just six months of its inception.
Founded in 2024, KorinMi is a unique concept that combines the best of Korean technology with Indian skin care needs. The company’s mission is to provide Indian consumers with access to professional, high-quality Korean skincare products and treatments, which are renowned for their effectiveness in addressing various skin concerns.
The pre-seed funding round will be used to fuel KorinMi’s expansion plans, which include opening 25 more clinics across India, in addition to its existing two locations. The company is also entering the direct-to-consumer (D2C) space, offering a range of professional Korean skincare products to Indian consumers.
“We are thrilled to have secured this funding round, which will enable us to further accelerate our growth plans,” said [Founder’s Name], CEO of KorinMi. “We believe that Korean skincare technology has a lot to offer Indian consumers, and we are committed to making it more accessible and affordable for them.”
KorinMi’s entry into the D2C space is a strategic move to complement its clinic-based business. The company will offer a range of products that are designed to cater to Indian skin types and concerns, including acne, hyperpigmentation, and aging. The products will be available online, and KorinMi plans to leverage social media and influencer marketing to reach its target audience.
The D2C segment is growing rapidly in India, with more consumers opting for online shopping and personalized customer service. KorinMi’s foray into this space is likely to be well-received by Indian consumers, who are increasingly looking for high-quality skincare products that are tailored to their specific skin needs.
KorinMi’s clinic-based business is also expected to benefit from the pre-seed funding round. The company plans to expand its network of clinics to 25 locations across India, which will enable it to reach a wider audience and provide more customers with access to its professional skincare services.
The clinics will be equipped with state-of-the-art technology and staffed by trained professionals who will provide personalized skincare consultations and treatments to customers. KorinMi will also offer loyalty programs and subscription services to its customers, which will enable them to enjoy repeat business and exclusive offers.
KorinMi’s success is a testament to the growing interest in Korean skincare technology in India. Korean beauty products have gained popularity globally in recent years, thanks to their high quality and effectiveness. India is no exception, with many consumers seeking out Korean skincare products that are designed to address their specific skin concerns.
However, KorinMi’s unique proposition is its blend of Korean technology with Indian skin care needs. The company’s products and treatments are designed to cater to Indian skin types and concerns, which sets it apart from other Korean skincare brands that may not have a deep understanding of Indian skin.
The pre-seed funding round is a significant endorsement of KorinMi’s business model and growth potential. The investors, including Vikas Agarwal and Vivek Kumar, bring a wealth of experience and expertise to the table, which will be invaluable in helping KorinMi achieve its goals.
As KorinMi continues to expand its clinic-based business and enter the D2C space, it is likely to face stiff competition from established players in the Indian skincare market. However, the company’s unique proposition and commitment to providing high-quality products and services are likely to help it stand out in a crowded market.
In conclusion, KorinMi’s pre-seed funding round is a significant milestone in the company’s journey to become a leading player in the Indian skincare market. With its unique blend of Korean technology and Indian skin care needs, KorinMi is well-positioned to capitalize on the growing demand for high-quality skincare products and services in India.
Source: https://startuptalky.com/news/korinmi-raised-pre-seed-funding-round/
