[Funding News] AI-powered Beauty Startup Honestly Secures Rs 3.2 Cr Funding from Better Capital

Honestly, a beauty and personal care (BPC) review platform powered by AI, has secured Rs 3.2 crore in a pre-seed funding round led by Better Capital.

The funds will be allocated to the initial product launch and the establishment of early indications of product-market fit.

Additionally, senior executives from Flipkart, Polygon, and Cred participated in the round, as well as Kunal Shah-led QED Innovations.

To facilitate the exchange of product evaluations, the platform will facilitate peer-to-peer connections. The AI will evaluate the ingredients of products to assist users in comprehending how new products may integrate into their current routines.

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The revenue model will concentrate on business-to-business (B2B) transactions, which will enable other brands to incorporate widgets into their product pages and utilise the platform's APIs.

Karishma Rathaur, founder, Honestly, said: "While social media has helped educate people about skincare, haircare and makeup, it has also added to the confusion. We're thrilled to be backed by investors who understand the problem. This investment will enable us to build a strong engineering and marketing founding team over the next few months,”

About Honestly

Founded by Karishma Rathaur and Vivek Madani, Honestly will facilitate peer-to-peer interactions for the purpose of exchanging product evaluations.

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