KorinMi Raises ₹3 Crore, Turns Profitable, Expands D2C & Clinics
In a significant development in the Indian startup ecosystem, KorinMi, India’s first Korean skin clinic, has raised ₹3 crore in a pre-seed funding round from prominent investors, including Vikas Agarwal, the former CEO of Kaya UAE, Vivek Kumar of Venture Garage, and others. This funding round not only marks a milestone for KorinMi but also underscores the growing interest in the Indian skincare market.
Founded in 2024, KorinMi is a unique blend of Korean technology and Indian skin needs. The clinic offers a range of treatments and products that cater specifically to the Indian skin type. The company’s success can be attributed to its focus on providing customized solutions to Indian customers, who have distinct skin concerns and requirements.
What’s impressive about KorinMi’s journey is that it has achieved profitability within just six months of its inception. This feat is a testament to the company’s effective business model and its ability to adapt to the Indian market. KorinMi’s profitability is a significant achievement, especially in the competitive skincare industry.
The funding received by KorinMi will be used to expand its clinic network and enter the direct-to-consumer (D2C) space. The company plans to open 25 new clinics across India, taking its total count to 27 clinics. This aggressive expansion plan is aimed at increasing KorinMi’s presence in the Indian market and providing its services to a wider audience.
In addition to its clinic expansion, KorinMi is also foraying into the D2C space with professional Korean skincare products. The company has launched a range of products that are designed specifically for Indian skin types and concerns. These products are available online, making it convenient for customers to purchase them from the comfort of their own homes.
KorinMi’s D2C products are designed to offer customers a more affordable and convenient option to access high-quality Korean skincare products. The company’s products are priced competitively, making them accessible to a wider audience. KorinMi’s D2C products are also available on e-commerce platforms, making it easy for customers to purchase them online.
The Indian skincare market is growing rapidly, driven by increasing awareness about skin health and the availability of a wide range of products and treatments. The market is expected to continue growing in the coming years, driven by factors such as increasing disposable income, changing lifestyles, and the growing popularity of skincare products.
KorinMi’s success is a testament to the growing demand for Korean skincare products in India. The company’s unique blend of Korean technology and Indian skin needs has resonated with Indian customers, who are looking for products that cater specifically to their skin concerns and requirements.
In conclusion, KorinMi’s ₹3 crore pre-seed funding round is a significant development in the Indian startup ecosystem. The company’s profitability within six months of its inception is a testament to its effective business model and its ability to adapt to the Indian market. KorinMi’s expansion plans, including the opening of new clinics and the launch of D2C products, are expected to further boost its growth and presence in the Indian market.
Source: https://startuptalky.com/news/korinmi-raised-pre-seed-funding-round/
