KorinMi Raises ₹3 Crore, Turns Profitable, Expands D2C & Clinics
The Indian beauty and skincare industry has witnessed a significant boom in recent years, driven by the increasing awareness about the importance of skincare and the growing demand for high-quality, effective products. Amidst this surge, a new player has emerged in the market, offering a unique blend of Korean technology and Indian skin needs. KorinMi, India’s first Korean skin clinic, has raised ₹3 crore in pre-seed funding from prominent investors, including Vikas Agarwal, ex-CEO of Kaya UAE, and Vivek Kumar of Venture Garage. In this blog post, we’ll delve into the story of KorinMi’s impressive journey, from its founding to its recent expansion plans.
A Unique Concept
KorinMi was founded in 2024 with a clear vision to bridge the gap between Korean skincare technology and Indian skin needs. The clinic’s founders recognized that while Korean skincare products have gained immense popularity worldwide, they often lacked a deep understanding of Indian skin types and concerns. KorinMi aimed to change this by offering a bespoke skincare experience that combines Korean technology with Indian skin expertise.
Pre-Seed Funding
The funding round, which raised ₹3 crore, was led by Vikas Agarwal, ex-CEO of Kaya UAE, and Vivek Kumar of Venture Garage. Other investors who participated in the round include a few high-net-worth individuals from the beauty and healthcare sectors. This pre-seed funding will enable KorinMi to scale its operations, expand its clinics, and enter the direct-to-consumer (D2C) space.
Profitability within Six Months
What’s impressive about KorinMi’s journey is that it has achieved profitability within just six months of its operations. This is a testament to the clinic’s focus on providing high-quality services and products that meet the needs of its customers. With a strong track record of success, KorinMi is now poised to take its business to the next level.
Expansion Plans
KorinMi’s plans for expansion are ambitious, with the clinic aiming to open 25 more clinics across India in the next few years. This will enable the company to reach a wider audience and provide its services to more customers across the country. The clinic will also be expanding its D2C presence, offering professional Korean skincare products to Indian consumers through its online platform.
D2C Foray
KorinMi’s entry into the D2C space is significant, as it will allow the company to reach a wider audience and provide its products to customers across India. The clinic’s D2C platform will offer a range of professional Korean skincare products, including serums, moisturizers, and sunscreens. These products will be designed to meet the specific skin needs of Indian consumers, taking into account the country’s unique climate and skin concerns.
Competitive Advantage
So, what sets KorinMi apart from other skincare clinics and D2C brands in the market? According to the clinic’s founders, it’s their unique blend of Korean technology and Indian skin expertise. KorinMi’s team of experts has a deep understanding of Indian skin types and concerns, which enables them to provide customized skincare solutions that are tailored to individual needs. This focus on customization is what sets KorinMi apart from other players in the market.
Conclusion
KorinMi’s journey from its founding to its recent expansion plans is a testament to the power of innovation and entrepreneurship in the Indian beauty and skincare industry. With its unique blend of Korean technology and Indian skin expertise, KorinMi is poised to make a significant impact in the market. As the clinic expands its operations and enters the D2C space, we can expect to see exciting developments in the days to come.
Source: https://startuptalky.com/news/korinmi-raised-pre-seed-funding-round/
