- Kenyan skincare firm Uncover secures $1.4m funding round led by EQ2 Ventures and IgniteXL Ventures
- Uncover, founded in Kenya, uses K-Beauty tech and African botanicals like Baobab and Rooibos for safe, nourishing skincare solutions
- Operations in Kenya, Nigeria, Uganda, and Ghana with plans to expand to the DRC
- Uncover prioritizes women of color, testing products on African women and seeing global demand
- Funding to support tech platform development, new product launches, market expansion, and personalized skincare solutions for melanin-rich skin
Kenyan Skincare Firm Uncover Secures $1.4m Funding
In the world of beauty and skincare, African brands are making significant strides, with Kenya’s Uncover being a shining example. Recently, Uncover, an emerging beauty brand, successfully closed a $1.4 million Seed II funding round. The funding was a major milestone for the company, signaling confidence from investors in its vision and potential for growth in the skincare market. Let’s delve deeper into the details of this exciting development in the realm of Kenyan skincare funding.
Uncover: A Data-Driven Women’s Skincare Brand
Uncover, a Kenyan skincare company founded three years ago, has carved a niche for itself as a data-driven women’s skincare brand. The company’s unique selling proposition lies in its utilization of leading K-Beauty technology and innovation combined with the healing properties of African botanicals like Baobab, Argan, and Rooibos. These ingredients are carefully selected to create safe and nourishing skincare solutions tailored specifically for women of color.
The firm’s operations initially started in Kenya but have since expanded to Nigeria, Uganda, and more recently, Ghana. With plans to further extend its reach to the Democratic Republic of Congo (DRC), Uncover is on a mission to cater to diverse melanin-rich skin tones that have historically been underrepresented in the beauty industry. Sneha Mehta, the Co-Founder and CEO of Uncover, emphasized the brand’s commitment to prioritizing women of color who have long been marginalized in the beauty space.
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Global Support and Expansion Plans
The recent funding round, led by EQ2 Ventures and IgniteXL Ventures, included contributions from Chui Ventures, Samata Capital, and Altree Capital. This diverse group of investors reflects a blend of global and local support for Uncover’s mission to revolutionize women’s skincare. The infusion of capital will enable Uncover to enhance its tech platform, introduce new products, explore new markets, and continue leveraging data to create personalized skincare solutions for its expanding customer base.
Jade Oyateru, the Co-Founder and COO of Uncover, expressed excitement about partnering with investors who share the brand’s vision for the future of women’s skincare. The funding will propel Uncover into its next phase of growth, facilitating the expansion of its product range, technological advancements, and accessibility to a broader consumer demographic seeking tailored skincare solutions.
Driving Growth Through Innovation and Community Engagement
Uncover’s success can be attributed to its innovative approach to product development and its strong engagement with a digital community of over 200,000 women across Kenya, Nigeria, and the diaspora. Over the past 24 months, the company has witnessed a remarkable 10x revenue growth, driven by its expansion into Nigeria, the launch of data-driven products tailored for melanin-rich skin tones, and investments in its tech infrastructure.
The company’s strategy of blending online and offline channels has proven to be instrumental in scaling within the African beauty market. Uncover’s omnichannel approach involves leveraging a robust consumer tech platform to enhance product discovery, customer education, and personalized offerings online. In parallel, the brand has forged partnerships with top retailers to bolster visibility, trust, and accessibility offline.
Uncover’s recent funding milestone not only underscores the brand’s potential for growth and innovation but also highlights the increasing recognition of African beauty brands on the global stage. With a strong focus on inclusivity, data-driven solutions, and community engagement, Uncover is well-positioned to make a lasting impact in the skincare industry, both locally and internationally. Keep an eye on this dynamic Kenyan skincare firm as it continues to redefine beauty standards and empower women of color worldwide.
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