Mumbai-based skincare brand ClayCo Cosmetics has successfully raised $2 million (INR 16 crore) in a Series A funding round led by Unilever Ventures.
This funding is a major milestone for the young company, founded just six months ago in March 2024 by Niharika Jhunjhunwala.
Purpose of the Funding
The newly secured capital will be directed toward several strategic initiatives:
- Product Development: Expanding the range with innovative offerings inspired by global beauty rituals.
- Brand Building: Boosting visibility and awareness through targeted marketing campaigns.
- Recruitment: Scaling the team to meet growing operational demands.
- Research and Development: Investing in R&D to create premium skincare products that resonate with consumer preferences.
Brand Philosophy and Popular Products
ClayCo Cosmetics blends ancient beauty rituals with modern skincare science, using global ingredients like fermented rice and ginseng.
Their flagship collection, Rituals of Japan, features products like cleansers and moisturizers enriched with traditional elements like sake and adzuki beans.
Their standout product, the Rice & Sake Sleep Mask, has sold over 100,000 units on major e-commerce platforms, becoming a bestseller.
Founder Niharika Jhunjhunwala expressed excitement about partnering with Unilever Ventures, highlighting the alignment with their vision to expand product offerings and boost brand awareness.
She noted increasing demand for high-quality, globally inspired skincare among Indian consumers.
Growing Indian Beauty Market
India’s beauty and personal care market is booming, projected to reach $28 billion by 2030.
With this growth, innovative startups like ClayCo are attracting substantial investment, competing with established brands like Minimalist, Pilgrim, and Mamaearth.
Pawan Chaturvedi of Unilever Ventures emphasized their support for ClayCo’s mission to reshape India’s beauty landscape with products that celebrate individuality.
In Summary
With the recent funding round, ClayCo Cosmetics is positioned for substantial growth, leveraging its unique blend of tradition and modern science to capture a larger share of India’s expanding beauty market.
