Wednesday, November 29, 2023
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WishCare Raises Rs 20 Crore In Its First Funding Round From Unilever Ventures

The hair and skincare D2C brand currently has Rs 85 crore ARR

WishCare Raises Rs 20 Crore In Its First Funding Round From Unilever Ventures
WishCare's founders Stuti Kothari, Ankit Kothari and Ayush Kothari

Outlook Start-Up Desk

POSTED ON November 08, 2023 11:40 AM

WishCare, a science-based Indian beauty brand, has secured Rs 20 crore in its first institutional round of funding from Unilever Ventures, the venture and growth capital arm of Unilever. Founded by Stuti Kothari, Ankit Kothari and Ayush Kothari, the company currently has Rs 85 crore ARR, having grown 4x in the last 12 months while maintaining a strong double-digit EBITDA. 

WishCare plans to channel these funds towards amplifying research and development capabilities and focusing on formulating high-efficacy products fortified with clinically tested ingredients. It will strengthen its presence in the domestic market and expand internationally, capitalising on the growing online market for transparent and science-backed skincare and haircare products.

Sharing her enthusiasm, Stuti, co-founder of WishCare, said, "Our focus has always been to understand the needs of consumers and co-create innovative and result-driven products with them. We use nature-mimicking scientific, clinically tested and research-backed ingredients to solve the customer’s concerns, which has enabled us to gain their trust. As we enter the next phase of growth, we look forward to working together with Unilever Ventures to help the brand set new benchmarks in the industry.”

Pawan Chaturvedi, Partner at Unilever Ventures, said, "We are delighted to have WishCare as an addition to our fast-growing beauty and wellness portfolio in India. It has built a suite of evidence-based products that have shown rapid growth and we’re looking forward to supporting the founders to build a long-lasting brand.”

Since the past year, WishCare’s haircare and skincare products are available on over 15 marketplaces including Nykaa, Amazon, Flipkart, Purplle and Myntra, along with its own D2C website.

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