SkinInspired Fuels Growth with ₹24 Crore Series A Funding

Direct-to-consumer skincare brand SkinInspired announced on Monday it has secured ₹24 crore in a Series A funding round. Spring Marketing Capital led the investment, with participation from existing investors like Unilever Ventures and new entrants including Lotus Herbals. The capital injection marks a significant step for the company as it targets accelerated growth and product innovation.

Strategic Investment in R&D

Founder and CEO Piyush Jain detailed the primary use of the funds will be establishing an in-house laboratory. This strategic move aims to bring formulation and testing capabilities in-house, reducing reliance on third-party facilities and sharpening the brand's focus on efficacy-driven products. Jain indicated that capital will also support team expansion and capability building, providing a runway of at least two years.

"The funds will primarily be used in research and development. We are setting up our own laboratory and later plan to bring in our own plant," Jain stated. He emphasized that strengthening internal resources is key for long-term growth.

Growth Trajectory and Consumer Trust

The funding round follows a seed investment of approximately $1.5 million a year ago. Since then, SkinInspired has reported substantial operational improvements, with its business tripling. This expansion is largely attributed to a strong base of repeat customers, with purchase rates exceeding 45% – a figure Jain described as robust for the industry. Consumer acceptance is further reflected in product ratings between 4.5 and 4.7 across major online marketplaces.

Customer lifetime value on platforms like Amazon is reportedly 2.5 times the category average. Dermatologist prescriptions are also increasing in key cities like Delhi and Mumbai.

Path to Profitability

While the company reported sales of ₹1.5 crore and a net loss of ₹1.9 crore in the fiscal year 2024, Jain noted significant improvements in financial performance since then. SkinInspired has achieved CM2 performance positive and is on track for break-even within the next six to 12 months. This projected profitability comes as cash burn has decreased while growth in core categories has accelerated.

Key growth drivers include its retinol-based night cream and sunscreen spray. The company is also preparing for new product launches, including an acne spot corrector and India's first dual-chamber under-eye serum.