Beauty tech startup Kult scores $20M in Series A funding from M3M Family Office
Kult plans to use the funds for scaling its business by adding new products. It is also looking to expand its team and touch 10,000 orders a day.
Beauty tech platform Kult has raised $20 million in its Series A round led by Payal Kanodia and Aishwarya Bansal from the M3M Family Office, along with participation from Venture Catalysts.
Founded by Karishma Singh and Ruchika Pallavi, Kult is a beauty platform that uses technology and AI to offer personalised skincare recommendations. It features a visual catalogue that displays products on a variety of Indian skin tones, helping users discover and choose products.
It is targeting a gross merchandise value (GMV) of Rs 650-700 crore this fiscal year, and already has a margin upwards of 35%, Singh said at a press conference.
"Kult’s data-driven, customer-first, tech-led model signals the next evolution in the online beauty space—where deep personalisation and human insight converge to deliver instant, precise solutions. The strong traction from repeat users in this early stage validates the timing and necessity of launching such a sharply focused, super-niche platform,” Kanodia said in a statement.
With the funding, the startup plans to accelerate its growth, intending to onboard 700 premium products from around the world and process over 10,000 orders per day by the end of 2025.
As part of this expansion, the company will also scale its workforce, with plans to hire more than 200 professionals across functions like sourcing, engineering, product development, and user experience.
Edited by Kanishk Singh