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AI-Powered Skincare Brand CureSkin Secures $20 Million in Funding Boost



CureSkin, a Bengaluru-based company offering personalized skincare solutions through advanced technology, has secured $20 million in its Series B funding round. This round, led by healthcare venture capital firm HealthQuad, also saw participation from existing investors JSW Ventures, Khosla Ventures, and Sharrp Ventures.


This latest investment brings CureSkin's total funding to $26 million, solidifying their commitment to increasing access to quality dermatological care in India.

Founded in 2017, CureSkin stands out for its use of cutting-edge technology to analyze users' skin concerns with a high degree of accuracy.


CureSkin's approach revolves around two key aspects:


  • AI-Driven Analysis: Leveraging user data, their system meticulously examines common skin issues like acne, hyperpigmentation, and hair loss.

  • Tailored Treatment Plans: Based on this analysis, CureSkin recommends personalized treatment kits and comprehensive care plans designed to address each user's specific needs.


CureSkin has served over 1.5 million users, addressing a vast customer base seeking solutions for various skin concerns. Their commitment to accessibility is evident, with 80% of their current user base residing in tier II and III cities.


To achieve this level of in-depth analysis, CureSkin's system analyzes a massive dataset exceeding 10 million skin pixels. This allows them to assess up to 2,000 facial attributes, providing a granular understanding of individual user requirements.


CureSkin's operational revenue has witnessed a significant rise, reaching Rs 35.46 crore in FY23 compared to Rs 2.57 crore in the previous year. This indicates strong growth. However, the company is also reinvesting heavily in its development, with losses increasing from Rs 2.57 crore to Rs 28 crore. This highlights their focus on fueling future growth initiatives.


The market for AI-powered skincare solutions is growing, with CureSkin facing competition from players like Clinikally, another Y Combinator alumnus that recently secured $2.6 million in funding.

Looking ahead, CureSkin plans to leverage the fresh capital to refine its AI capabilities and expand its product portfolio. Their goal is to solidify their position as a leading provider of personalized skincare solutions, catering to the diverse needs of customers across India.


 

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