WishCare Secures Rs 20 Crore in Funding Round Led by Unilever Ventures
In a significant move, WishCare, the pioneering science and efficacy-driven beauty brand, has successfully raised Rs 20 crore in its inaugural institutional funding round, with Unilever Ventures, the venture and growth capital arm of Unilever, leading the investment charge. This strategic infusion of capital is poised to propel WishCare’s ambitious plans for bolstering research and development capabilities, with a focus on crafting high-efficacy products fortified with rigorously tested clinical ingredients.
Founded by Stuti Kothari, Ankit Kothari, and Ayush Kothari, WishCare has rapidly emerged as a sustainable direct-to-consumer (D2C) personal care brand, boasting an impressive customer base of over 10 lakh individuals. Operating across more than 15 marketplaces, including prominent platforms such as Nykaa, Amazon, Flipkart, Purplle, Myntra, and its own D2C website, the startup offers a diverse array of haircare and skincare products. The product range encompasses bond repair hair treatments, hair growth serums, face serums, sunscreens, and active-based body lotions.
With the infusion of funds from Unilever Ventures, WishCare is strategically positioned to amplify its presence in the domestic market and embark on an international expansion journey. The startup is keen on capitalizing on the burgeoning online market for transparent and science-backed skincare and haircare products, asserting its commitment to providing consumers with products grounded in scientific research.
WishCare, expressing confidence in its growth trajectory, disclosed that its current Annual Recurring Revenue (ARR) stands at an impressive Rs 85 crore. Over the last 12 months, the company has experienced a remarkable fourfold increase in its financial performance while maintaining a robust double-digit EBITDA.
The infusion of funds from Unilever Ventures not only signifies a strong vote of confidence in WishCare’s vision and business model but also marks a pivotal moment for the brand as it gears up for an exciting phase of expansion, innovation, and market dominance in the rapidly evolving landscape of skincare and haircare. As WishCare continues to captivate consumers with its commitment to science-backed formulations and sustainability, the funding injection is set to fuel the brand’s trajectory towards even greater heights in the beauty and personal care industry.
Subscribe to our free newsletter to read the latest news and articles before they are published.