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KorinMi raises ₹3 crore, turns profitable, expands D2C & clinics

Inshorts · 3m ago

KorinMi raises ₹3 crore, turns profitable, expands D2C & clinics

India’s first Korean skin clinic, KorinMi, raised ₹3 crore in pre-seed funding from Vikas Agarwal (ex-CEO, Kaya UAE), Vivek Kumar (Venture Garage), and others. Founded in 2024, it blends Korean tech with Indian skin needs. Profitable within six months, KorinMi runs two clinics and plans 25 more, while also entering the D2C space with professional Korean skincare for Indian consumers.

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

Entrackr

Entrackr · 3m ago

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

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.

Nawgati, Troovy, KorinMi snag early-stage funding

VCCircle

VCCircle · 3m ago

Nawgati, Troovy, KorinMi snag early-stage funding

Fuel-tech platform Nawgati, children’s snacks brand Troovy, and skincare clinic KorinMi have secured early-stage funding from various investors. Nawgati raised $2.5 million to expand its fuel station optimization solutions globally. Troovy raised $2.3 million to enhance its nutritious children’s snack offerings. KorinMi secured Rs 3 crore to advance its Korean-inspired skincare treatments tailored for Indian consumers, with plans to open 25 new clinics in major Indian cities.

Beautywise raises Rs 3 crore from Boat's cofounder

Economic Times

Economic Times · 5m ago

Beautywise raises Rs 3 crore from Boat's cofounder

Beautywise, a beauty and wellness brand, secured Rs 3 crore funding from Boat cofounder Aman Gupta on Shark Tank India, following a Rs 6 crore round raised earlier in February 2024. The new funding will support the development of innovative products, team expansion, and brand presence enhancement. CEO Shreyansh Chauhan stated that the funds will be directed towards R&D and broadening their reach by hiring more field personnel and fortifying partnerships with clinics and pharmacies nationwide.

D2C brand Wellness Nutrition raises debt

Entrackr

Entrackr · 4m ago

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.

Bottomline: VC-backed fintech startup Olyv doubles revenue, turns profitable

VCCircle

VCCircle · 1y ago

Bottomline: VC-backed fintech startup Olyv doubles revenue, turns profitable

Fintech startup Olyv, formerly known as SmartCoin, has reported a significant increase in revenue and has become profitable. The company, supported by venture capital firms Lightrock and Unicorn India Ventures, saw its operating revenue rise to Rs 250 crore in the last financial year, up from Rs 113 crore. Olyv offers digital lending solutions and aims to provide financial services to underserved populations in India.

YS Exclusive: Vet chain Dr. Paws raises Rs 7.8 crore in seed

YourStory

YourStory · 11m ago

YS Exclusive: Vet chain Dr. Paws raises Rs 7.8 crore in seed

Bengaluru-based veterinary clinic chain Dr. Paws has raised Rs 7.8 crore in a seed round led by Sauce.vc, with participation from angel investors. The funds will be used to open more clinics and hire talent. Dr. Paws differentiates itself by offering an "elevated experience" for both pets and their owners. The company aims to have three clinics in operation by the end of the year. Its services include consultation, tests, grooming, and supplying pet care items. The average billing is around Rs 2,000.

Former Ola exec Pranay Jivrajka’s sexual wellness startup Allo raises Rs 16 crore from Zerodha’s Rainmatter, others

Economic Times

Economic Times · 4m ago

Former Ola exec Pranay Jivrajka’s sexual wellness startup Allo raises Rs 16 crore from Zerodha’s Rainmatter, others

Allo Health, a sexual wellness startup founded by former Ola executive Pranay Jivrajka, raised Rs 16 crore in a funding round led by Zerodha's Rainmatter. The funds aim to expand clinic networks, enhance technology, and improve patient engagement. Supported by Flipkart’s Binny Bansal, Allo Health combines physical clinics with AI-driven treatment and plans to enter the mental health segment. It highlights the need for accessible sexual healthcare in India, treating over 200,000 patients across 35 clinics.

Arya.ag near Rs 300 Cr revenue in FY23; turns profitable

Entrackr

Entrackr · 1y ago

Arya.ag near Rs 300 Cr revenue in FY23; turns profitable

Arya.ag, an agritech startup, raised $60 million before the start of FY23. The company achieved 50% growth and turned profitable in the last fiscal year, with revenue from operations increasing by 50% to Rs 290 crore. Income from storage and warehousing accounted for 68% of the revenue. The company's expenses grew by 43.9%, leading to a profit of Rs 7.5 crore. Arya.ag is valued at $300 million, with Aspada Investment being the largest stakeholder. The company competes with the likes of Farmart, Dehaat, Ninjacart, and Bijak.

Country Delight posts Rs 543 Cr revenue in FY22, losses surge 6.6X

Entrackr

Entrackr · 1y ago

Country Delight posts Rs 543 Cr revenue in FY22, losses surge 6.6X

Country Delight, a D2C dairy brand, experienced a 70% growth in revenue to surpass Rs 500 crore in FY22. However, losses surged 6.6X during the same period. The company's revenue from operations reached Rs 543 crore, with fresh milk sales forming 67.8%. High procurement and advertising costs led to increased losses of Rs 186 crore. Country Delight aims to be profitable by FY24 by expanding its non-milk offerings and rationalizing costs.

Myntra’s Marketplace Entity Turns EBITDA Positive In Q4 2023

Inc42 · 1y ago

Myntra’s Marketplace Entity Turns EBITDA Positive In Q4 2023

Fashion ecommerce platform Myntra, owned by Flipkart, saw its net loss increase over 30% YoY to INR 782.4 crore ($105.9 million) in FY23, while operating revenue rose 25% to INR 4,375.3 crore ($588.9 million). Myntra's marketplace entity turned EBITDA positive since Q4 of CY23. The company witnessed a 33% surge in monthly active users, reaching 60 million at the end of 2023. Myntra aims to expand into non-metro cities, cater to GenZs, and increase its share of non-apparel segments. Myntra also reported growth in D2C, beauty, and home categories, as well as partnerships with international brands and the acquisition of the franchise rights for UK's NEXT.

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