Investors are showing more trust in personal care brands. After Mamaearth and MyGlamm, skincare firm Minimalist has raised Rs 110 crore($15 million) in its latest Series A financial event.
Minimalist Raises $15 Million
9 months old startup Minimalist has closed a Series A funding round of $15 million led by international investors including Sequoia Capital, and Unilever Ventures. This milestone, the company said validates the brand as a forerunner in the personal care segment. Mohit Yadav and Rahul Yadav co-founded Minimalist in 2020.
The skincare startup wants to utilize current funding in infrastructure extension and R&D capabilities, and launch in global markets. The firm is also looking to go global in the coming days. Since content is the king to drive more traffic, the startup would also double down on its content creation efforts by sharing valuable tips and other details about skincare with its consumers.
Minimalist is committed to bringing transparency and efficacy in the personal care sector. The startup has established itself in a short period due to its values and ethics.
How Minimalist Became Popular in a Short period?
Talking about Minimalist’s short and impactful journey, co-founder Mohit Yadav released an official statement. He 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 the skincare industry is underway. Together with our customers, we are creating ‘Skincare 2.0’ by offering proven solutions driven by scientific innovations.”
Minimalist has a customer base of over 1 million within one year of its journey. The startup has skincare products for both men and women both. The firm is specially providing solutions related to common skin issues including acne, pigmentation, excess sebum, and dull skin.
Minimalist sells products via its website along with e-commerce giants like Amazon, Nykaa, Flipkart, Myntra, and numerous other marketplaces.
Currently, Minimalist has 20 products in the market. These products are in the form of serums, toners, face acids, and moisturizers. The firm claims that the products are well researched, safe, and scientifically proven.
Why Sequoia Capital took a risk to invest in a young brand like Minimalist? Answering this question, Shailesh Lakhani, managing director, Sequoia India, said, “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,”
Pawan Chaturvedi, partner at Unilever Ventures also praised the scientific approach of Minimalist to develop skin-friendly products. He said, “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.”
