KorinMi Raises ₹3 Crore, Turns Profitable, Expands D2C & Clinics
In a significant development for the Indian beauty and skincare industry, KorinMi, India’s first Korean skin clinic, has raised ₹3 crore in pre-seed funding from a consortium of investors led by Vikas Agarwal, the former CEO of Kaya UAE, and Vivek Kumar of Venture Garage. This impressive feat is all the more remarkable considering that the clinic 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’s mission is to provide Indian consumers with access to professional Korean skincare solutions that are tailored to their specific skin requirements. With its innovative approach and commitment to quality, KorinMi has quickly established itself as a leading player in the Indian skincare market.
The pre-seed funding round, which was oversubscribed, will be used to expand KorinMi’s operations and increase its presence in the Indian market. The clinic plans to open 25 new clinics across India, in addition to its existing two locations, which are already witnessing significant demand.
KorinMi’s entry into the direct-to-consumer (D2C) space is another significant development. The clinic will now offer professional Korean skincare products to Indian consumers through its own e-commerce platform, allowing them to experience the benefits of Korean skincare solutions in the comfort of their own homes.
The Indian skincare market is growing rapidly, driven by increasing awareness of the importance of skincare and the availability of a wide range of products. However, the market is also characterized by a lack of quality and authenticity, with many products being heavily marketed but lacking in efficacy.
KorinMi is addressing this gap by offering high-quality, professionally-formulated products that are backed by scientific research and clinical trials. The clinic’s products are designed to address specific skin concerns, such as acne, aging, and hyperpigmentation, and are formulated with natural ingredients that are gentle on the skin.
The success of KorinMi’s clinics and products can be attributed to the clinic’s commitment to quality and customer satisfaction. KorinMi’s team of dermatologists and skincare experts work closely with each patient to understand their skin concerns and develop personalized treatment plans that are tailored to their specific needs.
The clinic’s use of Korean technology and products is another key differentiator. Korean skincare is renowned for its effectiveness and has gained a significant following globally. KorinMi is bringing this expertise to India, offering Indian consumers access to high-quality, scientifically-formulated products that are designed to deliver results.
The pre-seed funding round is a significant vote of confidence in KorinMi’s business model and growth potential. The investors, who include Vikas Agarwal and Vivek Kumar, bring a wealth of experience and expertise to the table. Agarwal, the former CEO of Kaya UAE, has a deep understanding of the beauty and skincare industry, having led the expansion of Kaya UAE into several international markets. Kumar, of Venture Garage, is a seasoned entrepreneur and investor who has a track record of identifying and supporting innovative startups.
The funding will be used to scale KorinMi’s operations, expand its product range, and increase its marketing and sales efforts. The clinic plans to use the funding to expand its team, hire more dermatologists and skincare experts, and establish a strong online presence.
In conclusion, KorinMi’s pre-seed funding round is a significant milestone in the clinic’s journey to become a leading player in the Indian skincare market. The clinic’s commitment to quality, customer satisfaction, and innovation has earned it a loyal customer base and a reputation for excellence. With its planned expansion into the D2C space and the opening of new clinics, KorinMi is poised to make a significant impact on the Indian beauty and skincare industry.
Source: https://startuptalky.com/news/korinmi-raised-pre-seed-funding-round/
