Total amount raised
$25.5 Millions
Latest funding date
3/1/2024
Location
CureSkin has successfully raised $20 million in its latest Series B funding round, led by HealthQuad. The platform leverages AI technology to offer personalized skin and hair care solutions.
Keep reading to explore the intricacies of CureSkin's fundraising journey and the investors backing this innovative platform.
What Is CureSkin?
CureSkin, founded in October 2016 by Guna Kakulapati and Ramakrishna R, is headquartered in Bengaluru, Karnataka, India. The company leverages AI technology to provide personalized skin and hair care solutions through a mobile application.
With a team of 101-250 employees, CureSkin offers a comprehensive care plan that includes AI-driven skin and hair analysis, personalized regimens, nutritional diet plans, lifestyle guidance, and regular doctor checkups.
The platform aims to bridge the gap for patients who lack access to trained dermatologists, ensuring expert-led care is available at their fingertips.
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 kickstart the development of their AI-powered skin and hair care platform.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: SenseAI Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the AI technology and expand the user base.
- Venture Round
- Amount Raised: $500K
- Date: January 2020
- Lead Investors: SenseAI Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's capabilities and scale operations.
- Series A
- Amount Raised: $5M
- Date: March 2022
- Lead Investors: JSW Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the technology platform.
- Series B
- Amount Raised: $20M
- 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: $25.5M. Current Valuation: Not publicly disclosed.
Key Investors
- HealthQuad
- Details: HealthQuad is a leading healthcare-focused venture capital fund that invests in innovative healthcare companies. They led the $20 million Series B funding round for CureSkin.
- Investment Focus Areas: Healthcare, health technology, digital health.
- Notable Investments: Not publicly disclosed.
- JSW Ventures
- Details: JSW Ventures is a venture capital firm that invests in early to mid-stage technology companies. They participated in both the Series A and Series B funding rounds for CureSkin.
- Investment Focus Areas: Technology-driven businesses, digital platforms, consumer tech.
- Notable Investments: Not publicly disclosed.
- SenseAI Ventures
- Details: SenseAI Ventures is a venture capital firm that invests in AI-driven companies. They led the venture rounds in January 2019 and January 2020 for CureSkin.
- Investment Focus Areas: Artificial intelligence, machine learning, data analytics.
- Notable Investments: Not publicly disclosed.
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm known for investing in transformative technology companies. They participated in the Series B funding round for CureSkin.
- Investment Focus Areas: Technology, healthcare, sustainability.
- Notable Investments: Not publicly disclosed.
- Sharrp Ventures
- Details: Sharrp Ventures is a venture capital firm that invests in early-stage and growth-stage companies. They participated in the Series B funding round for CureSkin.
- Investment Focus Areas: Technology, consumer products, 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 significant opportunities. The company plans to enhance its AI capabilities and broaden its range of solution offerings, particularly targeting the vast market potential in tier II and III cities. The Indian beauty and personal care market, projected to grow to $30 billion by 2027, presents a substantial opportunity for CureSkin to expand its user base and revenue.
Future fundraising rounds seem likely as CureSkin continues to demonstrate growth and technological advancements. The involvement of prominent investors like HealthQuad and JSW Ventures indicates strong investor confidence, paving the way for potential Series C funding or strategic investments. However, the company may face challenges such as competition from other tech-driven skincare companies, managing increased operational costs, and ensuring the accuracy of its AI-driven solutions.
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