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Korean skin clinic KorinMi raises Rs 3 Cr in pre-seed round

EntrackrEntrackr · 7m ago
Korean skin clinic KorinMi raises Rs 3 Cr in pre-seed round
Medial

Korean skin clinic KorinMi has raised Rs 3 crore (around $360K) in its pre-seed round led by angel investors including Vikas Agarwal (ex-CEO, Kaya Skin Clinic, UAE) and Vivek Kumar (CEO, Venture Garage), along with other CXOs and industry leaders. The proceeds will be used to support technology upgrades, marketing, expansion, and product development tailored for Indian skin using Korean skincare science. Founded in 2024 by Reshbha Munjal and Jenovia Daun Jung, KorinMi combines Korean dermatological expertise and technology with solutions adapted to Indian consumers. It uses Korean 3D skin analysis to assess over 15 skin parameters and provides non-invasive and invasive treatments, along with professional-grade homecare products. The brand claims to become operationally profitable within six months of launching its first clinic in Gurugram and now operates two clinics in Delhi-NCR. KorinMi plans to expand to 25 clinics across Delhi, Mumbai, Chennai, and Hyderabad in the next three years. It is also entering the direct-to-consumer (D2C) space with a professional skincare product line specifically formulated for Indian skin. Its competitors include Kaya Clinic, SkinLab, and international D2C skincare brands entering India’s growing premium skincare market.

VAHDAM India turns profitable in FY25; clocks 95% revenue from global markets

EntrackrEntrackr · 1m ago
VAHDAM India turns profitable in FY25; clocks 95% revenue from global markets
Medial

Direct-to-consumer (D2C) tea brand VAHDAM India turned profitable in FY25 and posted nearly 20% year-on-year revenue growth as it expanded its global reach and product offerings. Direct-to-consumer (D2C) tea brand VAHDAM India turned profitable in the fiscal year ended March 2025. The company also reported top-line growth of nearly 20% year-on-year during the period as it expanded its global distribution and added new products across international markets. VAHDAM India's revenue from operations grew by 19% to Rs 267.5 crore in FY25 from Rs 225.2 crore in FY24, as per its consolidated financial statement filed with the Registrar of Companies (RoC). VAHDAM, an e-commerce brand offering teas, spices, and superfoods, sources ingredients directly from farms across India and sells its products in India and key global markets, including the US, Canada, and Europe. Sales of these products formed the company’s main revenue stream. Notably, exports to the US, Europe, and other global markets contributed over 95% of total revenue at Rs 254.5 crore, up 21% from Rs 210 crore in FY24, while revenue from India stood at just Rs 12 crore. The company also earned Rs 5.9 crore in non-operating income, taking its total revenue to Rs 273.4 crore in FY25. For the D2C firm, transportation was the largest cost center, accounting for 27% of total costs due to the company’s heavy reliance on overseas sales. This expense rose 6% in FY25 to Rs 71.5 crore. Advertising was another significant expense, increasing 16% year-on-year to Rs 58 crore. Cost of materials remained steady at Rs 48 crore in the last fiscal, while employee expenses fell 6% to Rs 27 crore. Commission paid to selling agents stood at Rs 21.4 crore. Other overheads, including rent, legal and professional fees, and miscellaneous expenses, added another Rs 42 crore, taking total costs to Rs 268.2 crore in FY25. Overall, the company's expenses rose marginally by 6% compared to FY24. In the end, the firm’s revenue growth helped it turn profitable in the previous fiscal with a net profit of Rs 5.2 crore, compared to a loss of Rs 17.7 crore in FY24. Its ROCE and EBITDA margin also moved into positive territory at 4% and 2.55%, respectively. As of March 2025, the firm reported Rs 144.5 crore of current assets including Rs 64.4 crore of cash and bank balance. According to startup data intelligence platform TheKredible, VAHDAM India has raised over $40 million in funding to date, including its most recent $3 million round led by SIDBI Venture. Its lead investors include Fireside Ventures, Sixth Sense Ventures, and IIFL Asset Management.

D2C brand Wellness Nutrition raises debt

EntrackrEntrackr · 9m ago
D2C brand Wellness Nutrition raises debt
Medial

Wellbeing Nutrition, a D2C health & wellness startup, is raising Rs 25 crore (approximately $3 million) in debt funding led by pharma company ACG-Capsules with the participation of Maheshwari Investors Pvt Ltd, MGB Advisors, and Atmos Finance. The board at Wellbeing Nutrition passed a special resolution to issue 2,500 optionally convertible debentures (OCDs) at an issue price of Rs 1,00,000 each to raise Rs 25 crore or $3 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. ACG led the round with Rs 10 crore investment while Maheshwari Investors, MGB Advisors, and Atmos Finance will be contributing Rs 5 crore each. According to filings, the company will utilize these funds for general business operations, including capital and working capital expenditures. Founded by Avnish Chhabria, Wellbeing Nutrition is a whole-food nutrition company specializing in plant-based ingredients to promote overall wellness. Its product range includes solutions for daily wellness, sleep, headaches, gut health, hair loss, and skincare. According to startup data intelligence platform TheKredible, the D2C company has raised close to $14 million to date, including a $10 million Series B round raised from Fireside Ventures and Hindustan Unilever (HUL) in December 2022. For the fiscal year ended March 2024, Wellbeing Nutrition reported Rs 70 crore in operating revenue while incurring a loss of Rs 32 crore during the same period.

Bare Anatomy parent Innovist crosses Rs 300 Cr revenue in FY25, turns profitable

EntrackrEntrackr · 13d ago
Bare Anatomy parent Innovist crosses Rs 300 Cr revenue in FY25, turns profitable
Medial

Innovist, the parent company of Bare Anatomy, Chemist at Play, Sunscoop, and Vinci, reported strong financial performance in the fiscal year ended March 2025, with total revenue surpassing Rs 300 crore while turning profitable during the year. Innovist has posted over 2.8X year-on-year growth in its operating revenue to Rs 299 crore in FY25 from Rs 105.8 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). Founded in 2018 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovist, formerly known as Onesto Labs, offers hair and skin products and currently operates four brands: Bare Anatomy, Chemist at Play, Sunscoop, and Vinci Botanicals. The sale of these products was the primary source of revenue for the company, accounting for 97.5% of total revenue or Rs 291.5 crore, while the remaining Rs 7.6 crore came from the shipping receipts. Innovist also earned Rs 2.34 crore from interest on current investments and other non-operating sources, taking its total income to Rs 301.4 crore. On the expense side, advertising remained the company’s largest cost head, rising 2.5X year-on-year to Rs 136.5 crore and accounting for over 45% of the total expenditure. The cost of materials, another key expense component, also surged 2.6X to Rs 78.5 crore during the year. Warehousing-related expenses nearly tripled during the fiscal year to Rs 24 crore, while employee benefit expenses stood at Rs 15 crore, accounting for just 5% of the total cost. Meanwhile, commission paid to sole buying agents for procuring raw materials surged over 19X to Rs 15.5 crore. Other overheads, including transportation, rent, IT expenses, and legal and professional fees, took total expenses to Rs 301 crore in FY25. The D2C house of brands recorded nearly threefold revenue growth in the previous fiscal. It also booked Rs 11.8 crore in deferred tax income. Together, these helped the company turn profitable, posting a Rs 12 crore profit compared to a Rs 12.5 crore loss in FY24. Its ROCE improved to -1.46%, while the EBITDA margin turned positive at 0.42% in FY25 with an EBITDA of Rs 1 crore. On a unit level, Innovist improved its expense-to-earning ratio to Rs 1.01 during the period. The Gurugram-based company reported current assets of Rs 116 crore, including cash and bank balances of Rs 46 crore, as of March 2025. According to startup data intelligence platform TheKredible, the Gurugram-based company has raised $30 million in funding to date, including a $16 million round in April this year through a mix of primary and secondary transactions led by ICICI Venture, which also provided an exit to its existing backer Accel. After a difficult 2024 for the D2C category, some of which is still unfolding for some, many others who survived seem to have learned some important lessons. While the high advertising expenses don’t indicate a drop in competitive intensity yet, the topline growth does point to a business with a more than foothold in the market now. A funding revival of sorts is also underway with some recent news in the category, but for Innovist, bigger prizes await if it can sustain the growth and keep improving margins steadily.

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