KorinMi Raises ₹3 Crore, Turns Profitable, Expands D2C & Clinics
In a significant development, KorinMi, India’s first Korean skin clinic, has raised ₹3 crore in pre-seed funding from a group of investors led by Vikas Agarwal, the former CEO of Kaya UAE, and Vivek Kumar, a prominent angel investor and founder of Venture Garage. This funding round marks a significant milestone for KorinMi, which has managed to turn profitable within just six months of its inception.
Founded in 2024, KorinMi is a unique concept that blends Korean technology with Indian skin needs. The clinic aims to provide Indian consumers with access to high-quality, professional Korean skincare treatments and products. With its innovative approach and commitment to excellence, KorinMi has quickly gained popularity among Indian beauty enthusiasts.
The pre-seed funding round, which was announced recently, will be used to expand KorinMi’s operations and scale its business. The company plans to open 25 new clinics across India, taking its total count to 27. This aggressive expansion plan is aimed at increasing KorinMi’s footprint and making its services more accessible to a wider audience.
In addition to expanding its clinic network, KorinMi is also entering the direct-to-consumer (D2C) space. The company has launched a range of professional Korean skincare products that are designed specifically for Indian skin types. These products will be available online, allowing consumers to purchase them from the comfort of their own homes.
KorinMi’s decision to enter the D2C space is driven by the growing demand for online beauty and skincare products in India. The COVID-19 pandemic has accelerated the shift towards online shopping, and KorinMi sees an opportunity to capitalize on this trend.
“We are thrilled to have received this funding round, which will enable us to achieve our ambitious plans for growth,” said a spokesperson for KorinMi. “Our focus on providing high-quality Korean skincare treatments and products has resonated with Indian consumers, and we are confident that our D2C platform will be a huge success.”
KorinMi’s founders have extensive experience in the beauty and skincare industry, having worked with leading brands such as Kaya and Dr. Batra’s. The company’s team is committed to providing exceptional customer service and ensuring that every patient receives personalized attention and care.
The funding round was led by Vikas Agarwal, who has a wealth of experience in the beauty and healthcare industry. Agarwal, who was the CEO of Kaya UAE, brings a deep understanding of the Indian beauty market and will play a key role in guiding KorinMi’s growth strategy.
“I am excited to be a part of KorinMi’s journey,” said Agarwal. “The company has a unique value proposition, and I believe that its focus on Korean skincare will resonate with Indian consumers. I am confident that KorinMi will become a leading player in the Indian beauty and skincare industry.”
KorinMi’s success is a testament to the growing popularity of Korean beauty and skincare products in India. The company’s innovative approach and commitment to quality have earned it a loyal following among Indian beauty enthusiasts.
As KorinMi continues to expand its operations and enter new markets, it is likely to face stiff competition from established players in the beauty and skincare industry. However, the company’s focus on providing high-quality products and services, combined with its unique Korean twist, sets it apart from the competition.
In conclusion, KorinMi’s ₹3 crore funding round is a significant milestone for the company, which has quickly established itself as a leading player in the Indian beauty and skincare industry. With its plans to expand its clinic network and enter the D2C space, KorinMi is well-positioned for future growth and success.
Source:
https://startuptalky.com/news/korinmi-raised-pre-seed-funding-round/
