Kindlife is a beauty and wellness platform. In a new funding round led by the South Korean private equity firm JB-Dooeun TK Fund and Japanese venture capital firm Mixi Global Investments, it raised $8 million. Existing investor Kalaari Capital also participated in this round. The funds would be deployed toward further development of the platform and increasing the number of international beauty brands in the Indian market, especially Korean and Japanese beauty brands.
PC: Entrepreneur
Founded by Radhika Ghai, Vidit Jain, and Manasa Garemella, Kindlife is leveraging its own AI technology to bring custom-made skincare and wellness to the Gen Z consumer. Exclusively launching over 20 Korean and Japanese beauty brands this year itself, the platform will further diversify its offerings in the beauty and wellness space.
Kindlife’s business model includes a B2B segment within it, known as ‘Kindbox’. As per Ghai, it’s a technology-based distributor for a number of brands across the country. It partners with different distribution channels, including quick commerce and major e-commerce players such as Flipkart and Amazon, in order to reach a greater mass of consumers.
This Gurugram-based startup has come a long way in growth, with almost 2.5 million registered users now. Kindlife’s operating revenue in FY23 stood at around Rs 10.7 crore, with a GMV of close to Rs 17 crore. On both metrics, it more than doubled in FY24 to stand in a strong market place and growing consumer demand.
According to Radhika Ghai, the future of the company was bright as she opined, “Over the next couple of years, we expect to grow 2-3x because we found a solid footing in the kind of categories that we want to play in, and our partnerships with brands have become much deeper and much stronger.”
On this, the investment community expressed faith in the innovative approach and potential of Kindlife’s market. Tak Lee of TKN Advisors said that the focus of the platform on Korean Beauty is one of the growing trends in India, and the use of AI technology to provide personalized beauty solutions, is something very unique.
Tomoharu Urabe, Principal Partner at Mixi Global Investments, said he participated in the round because of an intriguing concept with really strong early metrics that have shown its effectiveness.
Kindlife’s strategy to bring in a plethora of Asian beauty brands falls in line with the vision toward expansion into international beauty markets. Its growth trajectory and strategic partnerships will help leverage the platform by riding the rising demand for customized beauty and wellness solutions in India.
With continued innovation and market presence building, Kindlife will be well on its way to leadership in the beauty and wellness company, through innovations brought by a deep understanding of consumer needs.
