Express Computer
Home  »  News  »  SkinKraft and Vedix Raises Series A Funding Led by RPSG Ventures  

SkinKraft and Vedix Raises Series A Funding Led by RPSG Ventures  

With this funding, the startup will augment its R&D infrastructure, AI driven technology to further cater to the evolving needs of millennial consumers

0 801

Incnut Digital, a data-driven media and ecommerce startup has raised around $4M funding in Series A from RPSG Ventures, an early stage consumer-centric venture capital fund backed by RP-Sanjiv Goenka Group as its sponsor investor.

With the inflow of funding, the personalised beauty care startup, Incnut which houses – SkinKraft (India’s first customized Dermatologically-approved beauty care regimen) & Vedix is looking at strengthening and expanding its R&D labs, overall infrastructure and AI-driven data technology.

As per reports, India will constitute 5% of the total global cosmetics market and become one of the top five global markets in revenue terms by 2025, backed by the growing aspiration and awareness towards “personalized” products.

Mr. Chaitanya Nallan, CEO, IncNut, said, “Our vision at SkinKraft & Vedix is to revolutionize beauty with customized e-commerce. Since the last few years we have seen an increased interest in customised skincare using AI and ML. With RPSG Venture’s operational experience and expertise in the consumer domain, we will be able to strengthen our positioning and expand more rapidly across India.”

Mr. Abhishek Goenka, Head of RPSG Ventures, said, “Personalized beauty care provides a unique way of engaging with customers. SkinKraft & Vedix have been successful in building, scaling and sustaining a content to commerce community and have leveraged that in connecting the dots between brand building and performance. We, at RPSG Ventures, see an incredible potential in the data driven skincare industry. We are delighted to support the company in developing the technology as they start to scale the business.”

Chaitanya Nallan, Sangram Simha and Veerendra Shivhare built Incnut together in 2011. IncNut secured a seed round of Rs 50 lakh from Venture East in 2013, which was later purchased by Japanese conglomerate Istyle in 2018.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

LIVE Webinar

Digitize your HR practice with extensions to success factors

Join us for a virtual meeting on how organizations can use these extensions to not just provide a better experience to its’ employees, but also to significantly improve the efficiency of the HR processes
REGISTER NOW 
India's Leading e-Governance Summit is here!!! Attend and Know more.
Register Now!
close-image
Attend Webinar & Enhance Your Organisation's Digital Experience.
Register Now
close-image
Enable A Truly Seamless & Secure Workplace.
Register Now
close-image
Attend Inida's Largest BFSI Technology Conclave!
Register Now
close-image
Know how to protect your company in digital era.
Register Now
close-image
Protect Your Critical Assets From Well-Organized Hackers
Register Now
close-image
Find Solutions to Maintain Productivity
Register Now
close-image
Live Webinar : Improve customer experience with Voice Bots
Register Now
close-image
Live Event: Technology Day- Kerala, E- Governance Champions Awards
Register Now
close-image
Virtual Conference : Learn to Automate complex Business Processes
Register Now
close-image