Recently, Unilever Ventures, the venture and growth capital arm of consumer goods giant Unilever invested a Indian beauty brand Wishcare with Rs 20 crore ($2.5 million) in its inaugural funding round.
Wishcare, known for its science and efficacy-based approach, plans to allocate the funds toward research and development initiatives and the expansion of its product portfolio. Additionally, the company aims to enhance its presence in the domestic market and venture into international markets with the support of this investment.
Stuti Kothari, co-founder of Wishcare, expressed her enthusiasm about the funding, emphasizing the brand’s commitment to understanding consumer needs and co-creating innovative, result-driven products. Kothari looks forward to collaborating with Unilever Ventures to establish new industry benchmarks and drive the brand’s growth in the next phase.
Pawan Chaturvedi, a partner at Unilever Ventures, echoed Kothari’s sentiments and expressed delight in welcoming Wishcare to their rapidly expanding beauty and wellness portfolio in India. Chaturvedi acknowledged Wishcare’s impressive growth and evidence-based product range, highlighting Unilever Ventures’ dedication to supporting the founders in building a strong and enduring brand.
Wishcare, founded by Stuti Kothari, Ankit Kothari, and Ayush Kothari, offers a diverse range of haircare and skincare products. The brand sells its products through various marketplaces, including Nykaa, Amazon, Flipkart, Purplle, Myntra, and its own direct-to-consumer website. With the backing of Unilever Ventures, Wishcare is poised to further expand its product offerings, enhance its market reach, and continue its trajectory of rapid growth in the beauty and wellness industry.