[Funding alert] Minimalist raises Rs 110 Cr Series A round led by Sequoia Capital
Minimalist, the new-age homegrown skincare brand, has raised Series A funding of Rs 110 crore, (approx $15 million) led by Sequoia Capital India, with participation from Unilever Ventures. The round also saw multiple international investors in just nine months of its inception.
Minimalist plans to utilise the funds to enhance its infrastructure and R&D capabilities, launch in global markets, as well as double down on its content creation efforts by sharing well-researched knowledge about skincare with its consumers.
Speaking about the fundraise, Mohit Yadav, Co-founder, Minimalist, said, “Consumers today are looking beyond marketing claims and are seeking efficacy based skincare products. Our growth so far proves that a radical change in skincare industry is underway. Together with our customers, we are creating ‘Skincare 2.0’ by offering proven solutions driven by scientific innovations.”
Having a portfolio of diverse skincare and hair care products, the brand retails through its own website, along with ecommerce giants like Amazon, Nykaa, Flipkart, Myntra, and numerous other marketplaces. Minimalist currently offers 20 products — ranging from serums, toners, face acids, and moisturizers that are well-researched, backed by proven science, safe, effective, mindfully created, and suited for all skin types.
“Minimalist's products take an efficacy-first approach using transparency and science as underpinnings to improving personal care outcomes. This has resulted in a strong following and business momentum. Having seen the power of Mohit and Rahul’s execution over many years, Sequoia Capital India is thrilled to lead the Series A financing in the company,” said Shailesh Lakhani, Managing Director, Sequoia India.
The brand was launched in 2020 by Mohit and Rahul Yadav with a focus to bring high levels of efficacy and transparency to the personal care segment. It has over one million customers, and is the fastest-growing skincare brand in India.
“Minimalist is trailblazing science-backed clean beauty formulations in India, a trend that has gained massive consumer acceptance worldwide and with growing consumer traction in India. We look forward to working with the founders and management team along with our fellow investors in supporting the brand’s ambitions over the coming years” said Pawan Chaturvedi, Partner at Unilever Ventures.