Sustainable beauty brand WishCare raises Rs 20 Cr from Unilever Ventures

WishCare, a science and efficacy-based beauty brand, has raised Rs 20 crore in its first institutional round of funding from Unilever Ventures, the venture and growth capital arm of Unilever.

The startup aims to use the funds towards amplifying research and development capabilities, and focusing on formulating high-efficacy products fortified with clinically tested ingredients.

Co-founded by Stuti Kothari, Ankit Kothari, and Ayush Kothari, WishCare is a sustainable D2C personal care brand with over 10 lakh customer base. It currently operates in over 15 marketplaces such as Nykaa, Amazon, Flipkart, Purplle, Myntra, and others, along with its own D2C website.

The startup currently offers a diverse range of haircare and skincare products ranging from bond repair hair treatments, hair growth serums, face serums, sunscreens, and active-based body lotions.

"Our focus has always been to understand the needs of consumers and co-create innovative and result-driven products with them. We use nature-mimicking scientific, clinically tested and research-backed ingredients to solve the customer’s concerns, which has enabled us to gain their trust. As we enter the next phase of growth, we look forward to working together with Unilever Ventures' to help the brand set new benchmarks in the industry,” stated Stuti Kothari, Co-founder of WishCare.

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WishCare said it is well positioned to strengthen its presence in the domestic market and expand internationally, capitalising on the growing online market for transparent and science-backed skincare and haircare products, the company claims.

Currently, WishCare claims that its current ARR stands at Rs 85 crore, having grown 4x in the last 12 months, while maintaining a double-digit EBITDA.

"We are delighted to have WishCare as an addition to our fast-growing beauty and wellness portfolio in India. WishCare has built a suite of evidence-based products that have shown rapid growth and we’re looking forward to supporting the founders to build a long-lasting brand,” said Pawan Chaturvedi, Partner at Unilever Ventures.