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 a pre-seed funding round of ₹3 crore from notable investors such as Vikas Agarwal (ex-CEO, Kaya UAE), Vivek Kumar (Venture Garage), and others. This milestone achievement has propelled KorinMi to become a profitable venture within just six months of its inception in 2024. The funding will be utilized to expand the company’s clinic network, foray into the Direct-to-Consumer (D2C) space, and scale its professional Korean skincare offerings for Indian consumers.
KorinMi’s success can be attributed to its innovative approach of blending Korean technology with Indian skin needs. The company’s founders, who have extensive experience in the beauty and wellness industry, recognized the growing demand for effective and result-oriented skincare solutions in India. To address this demand, KorinMi brought together the best of Korean skincare technology and Indian skincare expertise to create a unique offering that caters to the specific skin concerns and needs of Indian consumers.
The pre-seed funding round, which was closed in 2024, has enabled KorinMi to establish a strong foundation for its business. The company has already set up two clinics in India, which have witnessed significant patient inflow and positive word-of-mouth. With the fresh injection of capital, KorinMi plans to expand its clinic network to 25 locations across India, making it one of the largest Korean skin clinic chains in the country.
In addition to expanding its clinic network, KorinMi is also venturing into the D2C space with a range of professional Korean skincare products. These products will be designed to cater to the specific skin concerns and needs of Indian consumers, and will be available through KorinMi’s e-commerce platform and other online channels. The company’s D2C foray is expected to further accelerate its growth, as it will enable KorinMi to reach a wider audience and provide its customers with a seamless shopping experience.
KorinMi’s entry into the D2C space is a strategic move, given the growing popularity of online beauty and skincare shopping in India. According to a recent report, the Indian beauty and personal care market is expected to grow at a CAGR of 10% between 2024 and 2029, driven by increasing consumer awareness and demand for high-quality skincare products. KorinMi’s D2C platform will enable it to capitalize on this trend, and offer Indian consumers a range of professional Korean skincare products that are tailored to their specific skin needs.
KorinMi’s founders are confident that the company’s unique blend of Korean technology and Indian skincare expertise will enable it to establish a strong presence in the Indian beauty and wellness market. “We are thrilled to have received the support of notable investors in our pre-seed funding round,” said [Founder’s Name], CEO of KorinMi. “We believe that our unique approach of blending Korean technology with Indian skincare expertise will enable us to create a loyal customer base and establish a strong presence in the Indian market.”
In conclusion, KorinMi’s pre-seed funding round of ₹3 crore is a significant milestone in the company’s journey to become a leading player in the Indian beauty and wellness industry. With its unique blend of Korean technology and Indian skincare expertise, KorinMi is well-positioned to capitalize on the growing demand for effective and result-oriented skincare solutions in India. As the company expands its clinic network and enters the D2C space, it is likely to create a significant impact in the Indian beauty and wellness market.
News Source:
https://startuptalky.com/news/korinmi-raised-pre-seed-funding-round/
