|
Conscious Chemist raises bridge round from Inflection Point Ventures
|
|
Our Bureau, Mumbai
November 24 , 2023
|
|
|
Beauty brand Conscious Chemist has raised an undisclosed amount from Inflection Point Ventures. Funds will primarily be directed towards expanding product categories, strengthening brand presence through marketing, and establishing offline retail locations/stores.
Founded in 2019 by Robin Gupta and Prakher Mathur, Conscious Chemist is a science-backed beauty brand with a mission to debunk chemical fears through evidence-based solutions. The company has a portfolio of 29 products that are performance oriented and Made Safe certified. The brand prioritizes transparency regarding ingredients and focuses on clinically proven activities to deliver real results in skincare.
Co-founder Prakher Mathur, COO, Conscious Chemist has an expertise in content marketing and sales from his previous experience at PropTiger & Schindler. Together, they are driving the brand's mission with their complementary skills.
Ivy Chin, partner, Inflection Point Ventures, says, “In the last 3 to 5 years, there has been a clear change in the consumer behaviour with reference to beauty and skincare. Emergence of influencers and celebrities sharing their beauty regimen has only propelled the narrative around clean and sustainable beauty products and rightfully so. Legacy and new age brands entering this segment will only help grow this market faster and we believe that Conscious Chemist has carved out the right niche with its purpose driven philosophy of building the brand. At IPV, it has always been important to back businesses that are not only building profitable growth trajectory but also conscious about the planet.”
Conscious Chemist operates at a significant scale, selling over 25,000 units each month across India. Their products are not only available to a wide customer base nationwide but also through prominent retail chains such as Health & Glow and Shoppers Stop.
Their key strengths and USPs encompass a range of factors. They offer innovative, problem-specific skincare solutions for issues like sun damage, acne, aging, and hyperpigmentation. Their products are designed with clinical actives, making them suitable for skincare beginners. The brand's portfolio is strongly focused on delivering results, and they prioritize raising awareness about the benefits of science-backed products and educating consumers about ingredients. In a market increasingly valuing honesty and transparency, Conscious Chemist stands out by providing informed choices to consumers who seek effective, trustworthy products.
Robin Gupta, CEO & Co-founder, Conscious Chemist, says,” Needs & choices of Indian consumers have evolved significantly over the last 5 years. Now consumers are looking for more specific and evidence led solutions tailored to their concerns. We have remained consistent on our product & brand philosophy of delivering science & evidence backed skincare for all genders. We have grown close to 110% yoy. This partnership with IPV will allow us to execute our business plan and grow more than 50% qoq at healthy EBITDA levels. The capital acquired will help us to amplify our brand voice. We will double down on our digital footprint with deeper penetration into online marketplaces while optimising our offline channels”.
India's beauty & personal care market is estimated to be USD 25.96 billion in 2023 and is expected to reach USD 35.21 billion by 2028, growing at a CAGR of 6.286%.
Conscious Chemist has achieved notable milestones, with a customer base of 350,000 demonstrating strong customer retention and product loyalty. They have also built an impressive presence on Instagram, amassing a following of 61,000 followers, further solidifying their brand's reach and influence.
|
|
|
|
|
|
|
|
TOPICS
|
That foods might provide therapeutic benefits is clearly not a new concept. ...
|
|
|
|
|