Total amount raised
$25.5 Million
Latest funding date
3/1/2024
Location
CureSkin has successfully raised funding over five rounds, with the latest being a Series B round involving four investors, including HealthQuad as a lead investor. The platform offers AI-powered, dermatologist-led treatments for skin and hair health.
Keep reading to explore the intricacies of CureSkin's fundraising journey and the investors backing this innovative platform.
What Is CureSkin?
CureSkin is a private company based in Bengaluru, Karnataka, India, specializing in AI-powered derma care through mobile devices. The company operates in various industries, including artificial intelligence, beauty, health care, mobile apps, personal health, and wellness.
Founded by a team of experts, CureSkin employs between 101-250 people and offers personalized, dermatologist-led treatments for skin and hair health. Their approach combines AI-assisted photo-based diagnosis with continuous specialist care to address both external symptoms and internal triggers.
How Much Funding Has CureSkin Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: August 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial AI technology and launch the platform.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: SenseAI Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the user base and improve AI capabilities.
- Series Unknown
- Amount Raised: $500,000
- Date: January 2020
- Lead Investors: SenseAI Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and enhance AI-driven diagnostics.
- Series A
- Amount Raised: $5,000,000
- Date: March 2022
- Lead Investors: JSW Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance technological capabilities.
- Series B
- Amount Raised: $20,000,000
- Date: March 2024
- Lead Investors: HealthQuad
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand solution offerings and improve AI capabilities.
Total Amount Raised: $25,500,000
Current Valuation: Not publicly disclosed
Key Investors
- HealthQuad
- Details: HealthQuad is a healthcare-focused venture capital fund that led the $20 million Series B funding round for CureSkin. They specialize in investing in companies that leverage technology to improve healthcare outcomes.
- Investment Focus Areas: Healthcare, Technology, Digital health
- Notable Investments: Not publicly disclosed
- JSW Ventures
- Details: JSW Ventures is a venture capital fund investing in early-stage technology companies. They participated in both the Series A and Series B funding rounds for CureSkin.
- Investment Focus Areas: Technology, Digital media, Consumer internet
- Notable Investments: Not publicly disclosed
- SenseAI Ventures
- Details: SenseAI Ventures is a venture capital firm focusing on AI and technology. They have been involved in multiple funding rounds for CureSkin.
- Investment Focus Areas: Artificial intelligence, Technology, Startups
- Notable Investments: Not publicly disclosed
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm that participated in the Series B funding round for CureSkin. They are known for investing in transformative technology companies.
- Investment Focus Areas: Technology, Healthcare, Consumer
- Notable Investments: Not publicly disclosed
- Sharrp Ventures
- Details: Sharrp Ventures is an investment firm that participated in the Series B funding round for CureSkin. They focus on high-growth potential companies.
- Investment Focus Areas: Technology, Consumer goods, Healthcare
- Notable Investments: Not publicly disclosed
What's Next for CureSkin?
With the recent $20 million Series B funding, CureSkin is poised to capitalize on several significant opportunities. The company plans to enhance its AI capabilities and broaden its range of solution offerings, particularly targeting the growing markets in tier II and III cities in India. This expansion is supported by the increasing demand for personalized skincare solutions and the rapid adoption of AI in the personal care industry.
Given its substantial growth in revenue and user base, CureSkin is well-positioned for future fundraising opportunities. The company may attract further investments to scale its operations and technology, potentially leading to additional Series C or later-stage funding rounds. Strategic partnerships or acquisitions could also be on the horizon to enhance its technological stack and market reach.
However, CureSkin faces several challenges, including intense competition from other tech-driven personal care brands and the need to balance rapid growth with profitability. Ensuring data privacy and maintaining the quality of personalized care as the customer base expands will be critical. Navigating regulatory hurdles and building trust among users and healthcare professionals are also essential for sustained success.
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