[Funding alert] CureSkin raises $500k led by SenseAI Ventures
Bengaluru-based healthcare startuphas raised $500k in funding led by SenseAI Ventures. The healthcare startup provides a treatment solution for skincare and hair fall issues with an artificial intelligence-enabled solution through mobile devices.
CureSkin was founded by two ex-Google employees Guna Kakulapati and Rama Rajanna, and dermatologist Charu Sharma in 2017. Guna is an IIT-Madras graduate and did his MS in computer science from the University of Illinois at Urbana-Champaign (UIUC). Ramakrishna completed his engineering from PES University. Both of them met while working at Google.
CureSkin founders (from left): Ramakrishna R, Dr Charu Sharma and Guna Kakulapati
Speaking on the investment, Vinish Kathuria, Managing Partner, SenseAI Ventures said, “CureSkin’s use of computer vision technology to offer a dermatologist service on the phone is a real testimonial of the power of artificial intelligence. At SenseAI, we believe in empowering smart entrepreneurs to make a difference in people’s lives, and CureSkin is a prime example of that belief.”
CureSkin's proprietary advanced image recognition AI can automatically identify skin problems like different types of acne, pigmentation, and assist doctors — from the photos taken in the app. Based on this photo, users can get skin treatment at home with personalised treatment kits built by certified dermatologists.
The startup was selected for the third batch of Google Launchpad programme, which had a specific focus on supporting startups solving India specific challenges using AI and machine learning. In 2017, CureSkin was part of the Y Combinator Summer Batch - the only Indian company to be selected as a part of its AI cohort.
CureSkin, which is available as an app, recently launched an updated version providing vernacular support in multiple Indian languages.
Reports suggest that about 300 million people in India suffer from various skin conditions. According to Techsci Research, the Indian skincare market stood at $1.6 billion in 2017 and is projected to grow at a CAGR of nine percent to reach $2.7 billion by 2023.
(Edited by Suman Singh)