Minimalist raises $15 million in funding led by Sequoia

Skincare startup Minimalist on Wednesday said it has raised $15 million (Rs 110 crore) in a Series A funding round led by Sequoia Capital India with participation from Unilever Ventures.

The funds will be utilised to expand into global markets besides enhancing infrastructure, research and development capabilities and content curation, Minimalist cofounder Mohit Yadav said.

The company intends to enter the Middle East and Southeast Asian markets.

Launched in 2020, Minimalist claims to have served over one million customers. “Consumers today are looking beyond marketing claims and are seeking efficacy based skincare products,” Yadav said. “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 retails through online marketplaces such as Amazon, Nykaa, Flipkart and Myntra, besides its own website. “We are exploring offline retail as well,” Yadav said. “We will create a roadmap for offline. The plan is to sell through our own retail stores in due course.”

The firm offers 20 products including serums, toners, face acids and moisturisers, all made in its factories.

New age beauty brands are attracting significant investor interest. MyGlamm, a direct-to-consumer (D2C) beauty brand, had raised Rs 355 crore led by Accel, as ET reported on Tuesday.

Earlier this year, Sequoia bet on beauty ecommerce player Purple, which competes with bigger rival and IPO-bound Nykaa. In March, Mumbai-based Purplle raised $45 million (about Rs 326 crore) from Sequoia Capital India and existing investors Verlinvest, Blume Ventures, and JSW Ventures. The round saw the company’s value rise to Rs 2,200 crore, sources told ET.

“Minimalist is trailblazing science-backed clean beauty formulations in India, a trend that has gained massive consumer acceptance worldwide and with growing consumer traction in India,” said Pawan Chaturvedi, partner at



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