Dermocosmetics Startup SkinQ Raises Rs. 3 Crores In Seed Round Led By Inflection Point Ventures
In a significant boost to the burgeoning personalized skincare market, SkinQ Dermo cosmetics has secured a seed investment led by Inflection Point Ventures with participation from Venture catalysts and Super Angels. This funding round marks a milestone in SkinQ's journey to bring cutting-edge dermo cosmetics solutions to the market.
Founded by the globally acclaimed dermatologist Dr. Chytra V Anand, SkinQ is not just a pioneering brand but a movement towards redefining skincare standards. The company's ethos is rooted in empowering individuals with melanin-rich skin, enhancing their confidence and well-being. With its mission to elevate the Skin Quotient of 10 million customers in the next three years, SkinQ is setting a new precedent in the industry with Clinically tested and proven solutions for Skin of Colour. SkinQ is bringing dermatologist expertise to the homes of the consumers with solutions for common skin concerns
The seed capital from IPV is pivotal for SkinQ's aggressive expansion plans. The funds will be strategically channelled towards launching innovative products, ramping up research and development, expanding the team, and enhancing the brand’s market presence. This investment signifies a transformative phase for SkinQ, poised to disrupt the traditional skincare market with its unique focus on melanin-rich skin.
SkinQ is spearheaded by 2 Women of renown in their fields. Founder & Chief formulator, Dr. Chytra Anand, a globally renowned Dermatologist and a leading skin influencer is the visionary force behind SkinQ, leveraging her expertise as a skin of colour expert and acclaimed award winning dermatologist.
Co-Founder & CEO, Meera Iyer, equipped with a B.Sc in Chemistry and Biotechnology, and an MMS in Marketing, complements the venture with her strategic acumen, serving as an instrumental co-founder shaping SkinQ's growth trajectory leveraging her expertise from Unilever, Big basket and Medlife CMO & CBO roles. Ivy Chin, Partner, Inflection Point Ventures, says, “By embracing the melanin-rich skin of Indians, SkinQ aims to revolutionise skincare by recognizing the unique needs of Indians . By addressing the distinct requirements of the melanin-rich skin, SkinQ has the potential to captivate the hearts of millions, who can truly appreciate the difference in its products.”
SkinQ achieved a significant operational milestone, growing MOM in their revenues, marking substantial growth and success in its endeavours with a discerning customer base and new channels of distribution. SkinQ is the first Indian Origin Dermo Cosmetics brand retailing in Dermatology offices & MedSpas in USA.
It boasts a unique array of strengths and USPs, including clinically proven functional Dermo Cosmetic solutions known for their efficacy. As the brainchild of a dermatologist, the brand stands out as the first to specifically formulate and test products addressing concerns of skin of colour, setting a pioneering standard in the industry.
Dr. Chytra Anand, Founder, SkinQ, says, “Everyone deserves to have healthy glowing skin and access to best in the class solutions celebrating the diversity and uniqueness of Indian skin and melanin rich skin. With over 2/3 of the world’s population being Melanin rich there is an under representation with only 8% of skin solutions solving for them globally.
“The alliance with IPV & our investors is a strategic enabler in our quest to redefine the skincare paradigm through a fusion of scientific ingenuity and technological innovation. This capital infusion is pivotal in augmenting our research and development bandwidth, enriching our bespoke product portfolio, and amplifying our outreach to a discerning customer base.”
We are building a multi-dimensional approach to be present at various touch points of our customers skin health journey in the fasting growing segment today.”
SkinQ garnered notable recognition in the beauty industry, securing finalist positions at esteemed events like Estee Lauder & Nykaa's Beauty & You awards and the D2C Innovation Awards underscoring its innovative approach. Additionally, its sunscreens have received accolades, ranking as the top choices—voted as the top 5 by Vogue Beauty Awards and top 4 by Elle Beauty awards—solidifying SkinQ's commitment to quality and effectiveness in skincare.
The Dermo Cosmetics market in India showed substantial growth, rising from $188 million in 2021 to an anticipated $450 million by 2030, indicating a significant upward trajectory.
Globally, the industry was valued at $51 billion in 2021, forecasted to reach an impressive $130 billion by 2030, showcasing substantial expansion and potential for the coming years.
