Total amount raised
₹1.1 Billion
Latest funding date
7/1/2021
Location
Minimalist has successfully raised an undisclosed amount in a Series A funding round, with Peak XV Partners as the lead investor. The company has also been acquired by Hindustan Unilever for an undisclosed amount.
Keep reading to explore the intricacies of Minimalist's fundraising journey and the investors backing this transparent skincare brand.
What Is Minimalist?
Minimalist is a skincare line dedicated to bringing transparency to the beauty industry. Based in Jaipur, Rajasthan, India, the company operates in the e-commerce sector, focusing on providing clear and honest information about its products. The company has an employee count ranging from 51 to 100.
Founded with the mission to offer honest, authentic, and affordable beauty products, Minimalist emphasizes transparency, efficacy, and the use of high-quality ingredients. The company has been acquired by Hindustan Unilever and has raised funding through a Series A round, supported by investors like Unilever Ventures and Peak XV Partners.
How Much Funding Has Minimalist Raised?
- Series A
- Amount Raised: $15 million
- Date: July 2021
- Lead Investors: Sequoia Capital India, Unilever Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The funds will be used for global expansion, enhancing infrastructure, research and development capabilities, and content curation.
Total Amount Raised: $15 million. Current Valuation: Not publicly disclosed.
Key Investors
- Sequoia Capital India
- Details: Sequoia Capital India is a venture capital firm that invests in early and growth-stage companies across various sectors in India and Southeast Asia. It has a strong reputation for backing high-growth startups.
- Investment Focus Areas: Technology, consumer, healthcare, financial services
- Notable Investments: Byju's, Zomato, OYO
- Unilever Ventures
- Details: Unilever Ventures is the venture capital and private equity arm of Unilever, focusing on investing in young, promising companies in the consumer and technology sectors. It aims to support startups that can benefit from Unilever's expertise and global reach.
- Investment Focus Areas: Consumer goods, beauty and personal care, technology
- Notable Investments: Gousto, True Botanicals
- Peak XV Partners
- Details: Peak XV Partners is a major investor in Minimalist, participating in the Series A funding round. The firm is known for its strategic investments in high-potential startups.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
What's Next for Minimalist?
Minimalist is poised for significant growth, with plans to expand into the Middle East and Southeast Asian markets. This global expansion offers vast opportunities, given the increasing consumer demand for efficacy-based and science-backed skincare products. Enhancing infrastructure and R&D capabilities will further bolster their product offerings, while content creation will drive brand engagement.
Future fundraising opportunities are likely as the company scales and enters new markets. Existing investors like Sequoia Capital and Unilever Ventures may continue to support, and new investors could be attracted by Minimalist's growth trajectory. However, challenges such as intense competition, regulatory hurdles, and maintaining product quality while scaling up remain.
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