Kult Raises $20 Million in Series A Funding Led by M3M Family Office

Kult Secures $20 Million in Series A Funding to Revolutionize India’s Beauty Tech Landscape

In a major leap for the beauty tech industry, Kult, an AI-powered beauty discovery platform, has successfully raised $20 million (over ₹170 crore) in a Series A funding round. The investment was led by Dr. Payal Kanodia and Aishwarya Bansal from the M3M Family Office, with additional participation from Venture Catalysts. This move promises to accelerate Kult’s mission of revolutionizing personalized skincare recommendations for diverse Indian skin tones.

A Vision for the Future of Beauty

Founded by Karishma Singh and Ruchika Pallavi, Kult is more than just a beauty discovery platform. It integrates cutting-edge AI technology to offer personalized skincare solutions tailored specifically to the needs of individual users. With insights from over 300 global beauty experts, Kult’s platform provides recommendations that are as unique as its users.

The funding will be utilized to expand the platform’s product offerings, grow the team, and scale operations. With the goal of onboarding 700 premium beauty products and processing over 10,000 orders per day by the end of 2025, Kult is poised for explosive growth. The company also plans to hire more than 200 employees across key functions including sourcing, engineering, product development, and user experience.

Tapping Into India’s Booming Beauty Market

Kult’s Series A funding comes at a crucial time, as India’s beauty and personal care (BPC) market is projected to grow at a compound annual growth rate (CAGR) of 10%, reaching $30 billion by 2027. Within this, the online BPC segment is set to account for $10 billion, representing nearly 33% of the total market. This growth trend makes the beauty sector an exciting opportunity, and Kult’s AI-driven approach sets it apart in a competitive landscape.

A Unique Position in the Market

While Nykaa, the Good Glamm Group, and Smytten are established players in India’s beauty market, Kult’s commitment to AI-powered personalization and diverse skin tone representation positions it uniquely in the race. Kult’s approach goes beyond just selling beauty products; it focuses on delivering an inclusive, personalized experience that resonates with today’s diverse and conscious consumer base.

The Road Ahead for Kult

With this $20 million funding, Kult is set to scale new heights in India’s burgeoning beauty market. By offering a seamless blend of technology, diversity, and expertise, Kult is poised to capture the imagination of beauty enthusiasts across the nation.

Stay tuned to DhanTax for more exciting updates in the world of innovative startups and the tech-driven transformations reshaping industries worldwide.