JSW Ventures invests approx 38 crores in CureSkin
The CureSkin app enables users to take photos and instantly get AI analysis for acne, dark spots, pigmentation, wrinkles, and others for free.
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Mumbai: CureSkin, artificial intelligence-driven beauty and personal care brand, has raised $5 Mn in a Series A round led by JSW Ventures with participation from Sharrp Ventures, SenseAI and other existing investors. CureSkin plans to deploy these funds to grow its overall customer base, expand into adjacent categories and make further investments in technology.
In India, the penetration of dermatologists is very low with high concentration in top metro cities. According to the Indian Association of Dermatologists, Venereologists and Leprologists (IADVL), the largest representing the official society of Indian Dermatologists, there is one registered dermatologist for over 1,00,000 people in India. With the lack of qualified opinion and prescription-based medication, chemists act as a proxy resulting in major challenges related to damaged skin while creating an environment of distrust. CureSkin is addressing these concerns by offering expert-designed personalized regimens through its technology platform. CureSkin has served users in the remotest regions across all states in India.
The CureSkin app enables users to take photos and instantly get AI analysis for acne, dark spots, pigmentation, wrinkles, and others for free. Its technology is built using a database of millions of images that detect skin conditions with high-level of accuracy across different skin types. Once the analysis is complete, CureSkin prepares a personalized safe and effective treatment that can be purchased through in-app transactions. The plan includes free diet and lifestyle guidance. For users with good skin, the app suggests a dermatologist designed plan to maintain healthy skin and hair.
According to Guna Kakulapati, Co-Founder & CEO of CureSkin, "We are excited to partner with JSW Ventures and the other investors in this exciting journey to build India's largest technology-led personal care brand. There is a large market need for outcome-oriented, specialist care for skin and hair conditions. We believe that our data and technology-based approach to developing superior products and providing personalised advice will solve this problem and cater to every Indian's skin, hair and personal care needs."
Commenting on the investment, Sachin Tagra, Partner at JSW Ventures said, "CureSkin is a category creator in the technology led beauty and personal care industry. We are excited to partner with them to build a truly unique brand that leverages technology to solve the lack of access to dermatologists in the country. The capital will help the company to continue scaling its operations, innovate on new products and build a stronger technology solution that will allow the brand to become a category leader."
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