KorinMi Raises ₹3 Crore, Turns Profitable, Expands D2C & Clinics
In a significant milestone for the Indian beauty and wellness industry, KorinMi, India’s first Korean skin clinic, has raised ₹3 crore in pre-seed funding from prominent investors, including Vikas Agarwal, ex-CEO of Kaya UAE, and Vivek Kumar of Venture Garage. This funding round not only marks a significant achievement for the young startup but also underscores the growing demand for Korean beauty and skincare solutions in India.
Founded in 2024, KorinMi is a pioneer in blending Korean technology with Indian skin needs. The clinic’s unique approach has resonated with Indian consumers, who are increasingly seeking effective and innovative skincare solutions. In a remarkable feat, KorinMi has achieved profitability within just six months of its operations, a testament to the clinic’s sound business model and operations.
With the fresh funding, KorinMi plans to expand its presence in the Indian market by opening 25 new clinics across major cities. This aggressive expansion plan is aimed at making KorinMi’s Korean skincare solutions accessible to a wider audience, further solidifying its position as a leading player in the Indian beauty and wellness industry.
In addition to its clinic expansion, KorinMi is also entering the direct-to-consumer (D2C) space with a range of professional Korean skincare products designed specifically for Indian consumers. This move will enable KorinMi to reach a broader customer base, leveraging the growing demand for online beauty and skincare products in India.
“We are thrilled to have received the backing of such esteemed investors, who share our vision of bringing Korean skincare expertise to Indian consumers,” said [Founder’s Name], Founder and CEO of KorinMi. “With this funding, we are poised to take our unique blend of Korean technology and Indian skin needs to the next level, expanding our clinics and D2C offerings to cater to the growing demand for innovative skincare solutions in India.”
KorinMi’s clinics, which currently operate in two locations, offer a range of treatments and services, including facial treatments, chemical peels, and laser hair removal. The clinic’s team of expert dermatologists and skin therapists use cutting-edge technology and Korean skincare products to deliver customized treatments tailored to individual skin types and concerns.
The D2C space, which KorinMi is entering, is expected to be a key growth driver for the brand. With a range of professional Korean skincare products, KorinMi aims to cater to the growing demand for online beauty and skincare products in India. The products will be designed to address specific skin concerns, such as acne, pigmentation, and aging, and will be available on KorinMi’s e-commerce platform.
KorinMi’s entry into the D2C space is a strategic move, given the growing popularity of online beauty and skincare products in India. According to a recent report, the Indian online beauty and skincare market is expected to reach ₹12,000 crore by 2025, driven by increasing adoption of e-commerce and the growing demand for convenient and affordable skincare solutions.
In conclusion, KorinMi’s ₹3 crore pre-seed funding round is a significant milestone for the Indian beauty and wellness industry. With its unique blend of Korean technology and Indian skin needs, KorinMi is poised to capture a significant share of the growing demand for innovative skincare solutions in India. The brand’s plans to expand its clinics and D2C offerings will enable it to reach a wider audience, further solidifying its position as a leading player in the Indian beauty and wellness industry.
Source: https://startuptalky.com/news/korinmi-raised-pre-seed-funding-round/
