In a landmark move for the Indian skincare industry, SkinQ Dermo cosmetics has successfully secured a seed investment of ₹3 crore, led by Inflection Point Ventures. This strategic financial boost, further bolstered by contributions from Venture Catalysts and Super Angels, marks a significant milestone in SkinQ’s quest to revolutionize skincare, particularly for individuals with melanin-rich skin.
Innovative Leadership Driving Change
At the helm of SkinQ is Dr. Chytra V Anand, a globally renowned dermatologist and a leading skin influencer, serving as the founder and chief formulator. Her expertise as a skin of color expert and acclaimed award-winning dermatologist is the visionary force propelling SkinQ forward. Complementing Dr. Anand’s medical proficiency is co-founder and CEO Meera Iyer, who brings her extensive experience in chemistry, biotechnology, and marketing, having held pivotal roles at Unilever, Big basket, and Medlife.
Empowering Melanin-Rich Skin
SkinQ’s core mission revolves around catering to the unique needs of melanin-rich skin, a demographic that has been historically underrepresented in global skincare solutions. Dr. Anand emphasizes that over two-thirds of the world’s population has melanin-rich skin, yet only a mere 8% of skin solutions globally cater to this group. Through scientific ingenuity and technological innovation, SkinQ aims to address this gap, offering bespoke products that celebrate the diversity and uniqueness of Indian and melanin-rich skin.
Strategic Growth and Expansion
The infusion of capital is set to significantly augment SkinQ’s research and development, enriching its product portfolio and enhancing its market presence. The startup has already demonstrated robust month-on-month revenue growth and is expanding its distribution channels. Notably, SkinQ has the distinction of being the first Indian-origin dermo-cosmetics brand to be retailed in dermatology offices and MedSpas in the USA. The brand has also received recognition in the beauty industry, especially for its sunscreens, and has been a finalist in prestigious beauty awards.
A Promising Future for Dermocosmetics
The dermocosmetics market in India is on an upward trajectory, with projections indicating a rise from $188 million in 2021 to $450 million by 2030. On a global scale, the market is expected to reach $130 billion by 2030. With its innovative approach and strategic investments, SkinQ is poised to make a significant impact in the skincare industry, transforming the way melanin-rich skin is cared for and celebrated.
This pivotal development underscores the growing importance and potential of the dermocosmetics sector in India and globally, promising a future where skincare solutions are more inclusive and tailored to the diverse needs of consumers around the world.