The premium skincare brand, known for integrating ancient global beauty rituals with cutting-edge science, plans to utilize the funds to broaden its product range, enhance branding, marketing initiatives, and strengthen working capital.
ClayCo Cosmetics, a premium skincare brand, has successfully raised $2 million (approximately Rs 16 crore) from Unilever Ventures, the venture capital division of Unilever. The company, which focuses on delivering high-performance skincare solutions to the Indian market, made the announcement in a recent statement.
Founded in March 2024 by Niharika Jhunjhunwala, ClayCo is built on the fusion of traditional beauty practices from around the globe and modern scientific advancements. The company currently offers its products through its website and several e-commerce platforms.
“With this funding, we can amplify brand visibility, introduce new products, and invest further in R&D, all of which will propel our growth. As consumers grow increasingly conscious of global ingredients like fermented rice, ginseng, and CICA, they are willing to invest in premium, effective skincare,” said Jhunjhunwala. ClayCo also plans to launch new products, including a body care range inspired by Moroccan beauty rituals.
In the highly competitive skincare sector, the Mumbai-based brand rivals players like Minimalist (backed by Peak XV Partners), Pilgrim (supported by Vertex Ventures), Plum (backed by A91 Partners), Dot & Key by Nykaa, Mamaearth, and The Derma Co., both under Honasa Consumer.
Pawan Chaturvedi, Partner for Asia at Unilever Ventures, commented on the investment, saying, “We are excited to partner with ClayCo as they aim to redefine India’s beauty industry by introducing innovative global beauty rituals that highlight individuality.”
Earlier in June, another D2C skincare company, Foxtale, secured $18 million (Rs 150 crore) in funding led by Singapore-based Panthera Growth Partners.