KorinMi Raises ₹3 Crore, Turns Profitable, Expands D2C & Clinics
In a significant development for the Indian beauty and wellness industry, KorinMi, India’s first Korean skin clinic, has raised ₹3 crore in a pre-seed funding round led by Vikas Agarwal, the former CEO of Kaya UAE, and Vivek Kumar, a seasoned entrepreneur and investor from Venture Garage. This milestone marks a significant turning point for the startup, which has already achieved profitability within just six months of its inception.
Founded in 2024, KorinMi is a pioneering venture that combines Korean technology with Indian skin needs. The clinic’s founders, who have extensive experience in the beauty and wellness space, identified a gap in the market for a holistic approach to skin care that combines the best of Korean technology with Indian skin needs. The result is a unique blend of cutting-edge treatments and products that cater to the specific skin concerns of Indian consumers.
The pre-seed funding round, which was oversubscribed, will be used to expand KorinMi’s operations, establish a strong presence in the D2C (direct-to-consumer) space, and open 25 new clinics across India. The startup has already set up two successful clinics in Bengaluru and is now poised to expand its footprint to other major cities in India.
KorinMi’s D2C foray is a significant development, as it marks the company’s entry into the rapidly growing e-commerce space in India. The startup has curated a range of professional Korean skincare products that are specially designed for Indian skin types. These products will be available on KorinMi’s e-commerce platform, which is expected to go live soon.
The company’s founders believe that KorinMi’s unique blend of Korean technology and Indian skin needs has been a major factor in its rapid success. “We are thrilled to have received such strong support from our investors, who share our vision of revolutionizing the Indian beauty and wellness industry,” said [Founder’s Name], CEO of KorinMi. “We are confident that our unique approach will resonate with Indian consumers, who are increasingly looking for innovative and effective skin care solutions.”
KorinMi’s pre-seed funding round has generated significant interest in the startup, with investors from the UK, Korea, and India participating in the round. The funding is expected to accelerate KorinMi’s growth plans, which include expanding its clinic network, strengthening its e-commerce platform, and developing new products and services.
The beauty and wellness industry in India is growing rapidly, driven by increasing consumer awareness of the importance of skin care and wellness. The Indian beauty and wellness market is expected to reach ₹83,000 crore by 2025, growing at a CAGR of 12%. KorinMi is well-positioned to capitalize on this trend, with its unique blend of Korean technology and Indian skin needs.
In conclusion, KorinMi’s ₹3 crore pre-seed funding round is a significant milestone in the startup’s journey. With its unique approach to skin care, KorinMi is poised to revolutionize the Indian beauty and wellness industry. As the company expands its operations, establishes a strong presence in the D2C space, and opens new clinics across India, it is likely to become a major player in the industry.
Source: https://startuptalky.com/news/korinmi-raised-pre-seed-funding-round/
