KorinMi raises ₹3 crore, turns profitable, expands D2C & clinics
In a significant development in the Indian beauty and wellness sector, KorinMi, India’s first Korean skin clinic, has raised ₹3 crore in pre-seed funding from a group of investors led by Vikas Agarwal, former CEO of Kaya UAE, and Vivek Kumar from Venture Garage. This marked a significant milestone for the company, which has been expanding rapidly since its inception in 2024.
KorinMi’s unique value proposition lies in its ability to blend Korean technology with Indian skin needs. The clinic uses advanced Korean skincare treatments and products to address various skin concerns, including acne, pigmentation, and aging. The company’s founders, with their deep understanding of Indian skin types and needs, have successfully adapted Korean skincare technology to cater to the Indian market.
The pre-seed funding round is a testament to KorinMi’s growing reputation and potential for growth. The company has managed to turn profitable within just six months of its inception, a remarkable achievement that sets it apart from many other startups in the industry.
With the funding, KorinMi plans to expand its clinical presence by opening 25 more clinics across India. Currently, the company operates two clinics in Delhi and Mumbai, with plans to expand to other major cities such as Bengaluru, Chennai, and Hyderabad.
In addition to its clinical expansion, KorinMi is also entering the direct-to-consumer (D2C) space with a range of professional Korean skincare products for Indian consumers. This move is designed to cater to the growing demand for high-quality, affordable skincare products in India. The company’s D2C platform will offer a range of products that are not only effective but also safe and suitable for Indian skin types.
KorinMi’s entry into the D2C space is a strategic move to expand its reach and revenue streams. The company’s clinical business will continue to focus on providing premium skincare treatments, while the D2C platform will offer a more affordable and accessible option for customers who prefer to use products at home.
The funding round was led by Vikas Agarwal, former CEO of Kaya UAE, who is known for his expertise in the beauty and wellness industry. “KorinMi has the potential to disrupt the Indian beauty and wellness sector with its unique blend of Korean technology and Indian skin understanding,” said Agarwal. “I am excited to be a part of this journey and support the company’s growth plans.”
Vivek Kumar from Venture Garage, another investor in the round, echoed similar sentiments. “KorinMi has a strong value proposition and a clear understanding of the Indian market. We believe that the company has the potential to scale rapidly and become a leader in the Indian beauty and wellness sector.”
KorinMi’s success is a testament to the growing popularity of Korean skincare in India. Korean beauty products have gained a significant following in India, thanks to their reputation for being effective, affordable, and easy to use. KorinMi’s unique blend of Korean technology and Indian skin understanding has allowed the company to capitalize on this trend and establish itself as a leader in the Indian beauty and wellness sector.
In conclusion, KorinMi’s ₹3 crore pre-seed funding round is a significant milestone for the company, marking its entry into the Indian beauty and wellness sector. With its unique blend of Korean technology and Indian skin understanding, KorinMi is well-positioned to disrupt the industry and become a leader in the years to come.
Source: https://startuptalky.com/news/korinmi-raised-pre-seed-funding-round/
