· The round had participation from existing investors including JSW Ventures, Khosla Ventures and Sharrp Ventures
· The fresh funding further fuels the Company’s vision to widen access to quality dermatological care in India leveraging AI built over millions of datasets
· Cureskin aims to disrupt the large and growing skin and hair care industry in India by providing high-quality, customised solutions through a comprehensive digital-first platform
Mumbai, NFAPost: Cureskin, an AI-driven dermatology platform that provides clinically validated skin and hair health solutions, has raised Series B funding of $20 million.
The round was led by India’s leading digital health-focused venture capital fund, HealthQuad along with participation from existing marquee investors including JSW Ventures, Khosla Ventures and Sharrp Ventures. The latest investment brings Cureskin’s total funding to $26 million, further fuelling its vision to widen access to quality dermatological care in India.
India grapples with a significant shortage of access to qualified dermatologists, leaving millions without quality skin care. At the same time, there is a significant and growing demand for such a solution in India due to its young and aspirational demographic.
Cureskin is expanding the skin and hair care market by bridging this gap by leveraging AI to scale the reach of dermatologists. Through its mobile app, Cureskin has treated over 15 Lakh customers so far for various conditions such as acne, hyper-pigmentation, post-acne issues, hair loss etc, with over 80% of customers in Tier 2 and 3 regions.
Cureskin CEO and Co-founder Guna Kakulapati said the company is delighted to have earned the backing of HealthQuad alongside its existing partners.’
“This investment reaffirms the growing demand for accessible expertise and quality care to solve skin & hair problems for people in India. These funds will help further enhance our AI capabilities, accelerate our growth and expand solution offerings. We aim to provide optimal skin and hair health to millions of individuals across the country,” said Cureskin CEO and Co-founder Guna Kakulapati.
The domestic market is flooded with many beauty and personal care brands making it difficult for consumers to make product choices that are right for their skin and can effectively solve their concerns. Cureskin stands apart by offering dermat-prescribed, continuously-monitored, high-efficacy personalised solutions to every consumer at affordable prices.
HealthQuad Managing Director Dr. Pinak Shrikhande said lack of qualified dermatologists in Tier 3+ towns and lack of product knowledge leads to ineffective self-treatments.
“Cureskin is a comprehensive digital-first platform focused on customised skin and hair care treatments solving for the lack of access to dermatologists with a deep AI-led diagnosis while providing high-quality outcome-driven regimens at affordable prices. We are proud to be partners in Cureskin’s journey to create impact as it scales,” said HealthQuad Managing Director Dr. Pinak Shrikhande.
HealthQuad Chief Investment Officer Charles–Antoine Janssen said he is excited to be part of Cureskin and is deeply aligned with its vision of creating impact through widening access to qualified dermatological care pan-India.
“With more than 70% of the Company’s users currently coming from Tier 3+ locations, Cureskin is aligned with HealthQuad’s mission of solving the accessibility, affordability and quality issues in healthcare in India. We remain committed to partnering with transformational digital-first companies creating impact for the underserved,” added HealthQuad Chief Investment Officer Charles–Antoine Janssen.
JSW Ventures Managing Partner Sachin Tagra said the company has demonstrated exemplary execution capabilities.
“This capital will help the company continue scaling its operations, innovate further on AI development to build a stronger technology moat, and expand its distribution capabilities,” said JSW Ventures Managing Partner Sachin Tagra.
Veda Corporate Advisors acted as Exclusive Advisors to Cureskin for the transaction.
About Cureskin:
Cureskin is an AI-enabled app that provides skin and hair care solutions to individuals across India that are personalised and dermatologist-prescribed. Cureskin ensures a holistic approach to addressing individual needs through root-cause understanding, diet/lifestyle guidance, and regular dermatologist follow-ups to ensure measurably better outcomes. It has a 98% treatment success rate for skin conditions within 3 months of adherence.
The Cureskin app uses photo-analysis AI to analyse more than 10M skin pixels and derive more than 2000 facial attributes to understand problem conditions and severity. The technology was developed using a database of 50 million+ images, to detect skin conditions and assist dermatologists in treatment design. It therefore understands skin in a much more detailed way, segmenting consumers into over 65K different profiles and offering individualised guidance for the unique needs of every user.
About HealthQuad:
HealthQuad is India’s leading digital health-focused venture capital fund, with assets under management of more than USD 280 Mn across two funds. Its focus is to nurture innovative models which radically improve healthcare access and affordability by leveraging technology.
About JSW Ventures:
JSW Ventures is an early-stage institutional venture capital fund sponsored by the family office of the JSW Group, investing in technology-led startups. The fund is focused on investing in platform companies across ConsumerTech, HealthTech, B2B, AgriTech, FinTech and Enterprise SaaS companies.
