WishCare, a science & efficacy-based Indian beauty brand, has secured Rs 20 crore in its first institutional round of funding from Unilever Ventures, the venture and growth capital arm of Unilever.
This investment round signifies an important milestone in the journey of WishCare’s high growth trajectory as it promises to continue delivering distinctive, innovative, and efficacy-inspired formulations.
Sharing her enthusiasm, Stuti Kothari, Co-Founder of WishCare, said, “Our focus has always been to understand the needs of consumers and co-create innovative and result-driven products with them. We use nature mimicking scientific, clinically tested and research backed ingredients to solve the customer’s concerns, which has enabled us to gain their trust. As we enter the next phase of growth, we look forward to working together with Unilever Ventures’ to help the brand set new benchmarks in the industry.”
The company is currently at INR 85 Cr ARR, having grown 4x in the last 12 months while maintaining a strong double-digit EBITDA. The company was founded by Stuti Kothari, Ankit Kothari & Ayush Kothari, who come with diverse skill sets in tech consulting, digital marketing, and finance respectively.
Pawan Chaturvedi, Partner at Unilever Ventures said, ” We are delighted to have WishCare as an addition to our fast-growing beauty and wellness portfolio in India. WishCare has built a suite of evidence-based products that have shown rapid growth and we’re looking forward to supporting the founders to build a long-lasting brand.”
WishCare’ s unwavering dedication to biomimetic science, efficacy, and a customer-centric ethos has been the growth catalyst behind the brand. The company aims to channel these funds towards amplifying research and development capabilities and focusing on formulating high-efficacy products fortified with clinically tested ingredients. Furthermore, WishCare is well positioned to strengthen its presence in the domestic market and expand internationally, capitalising on the growing online market for transparent and science backed skincare and haircare products.
Over the past year, WishCare has witnessed strong growth across channels driven by high organic reviews, impressive customer repeats and strong product organic listings across leading e-commerce marketplaces. WishCare is available on 15+ marketplaces like Nykaa, Amazon, Flipkart, Purplle, Myntra, etc., along with its own D2C website. It currently offers a diverse range of haircare and skincare products ranging from bond repair hair treatments, hair growth serums, face serums, sunscreens, and active-based body lotions that are well-researched and formulated with clinically proven effective ingredients.
Founded in 2019 by Stuti Kothari (ex-JP Morgan), Ankit Kothari (ex-Google) & Ayush Kothari (Finance Consultant), WishCare is a sustainable D2C personal care brand with over 10 Lakhs+ customer base that currently operates in over 15 distinctive marketplaces. Fortified with effective yet safe ingredients, most of the product line of WishCare has gained popularity owing to their efficacy and one of its kind formulation.
WishCare was founded on the three core principles of Clean and Effective Formulas, Conscious Packaging, and Caring Social Initiatives. Built on the commitment of efficient and safe formulations, the brand aims to deliver products that solves the consumer’s needs as a sustainable, unique and minimal hassle experience.
About Unilever Ventures
The venture and growth capital arm of Unilever, empowers a new breed of forward-thinking entrepreneurs with ground-breaking ideas and ambitions to transform the world. Our mission extends beyond mere capital provision; we enable these visionaries to cultivate distinctive brands and innovative technology solutions that resonate on a global scale.