Female-Led Startup Strengthens Market Position in Clean Beauty
Dubai-based Powder Beauty has secured undisclosed pre-Series A funding led by Wharton Alumni Angel Network-based Sophia Collective and NKHEL, founded by Nithin and Nikhil Kamath of Zerodha. This will be a milestone round for the female-founded start-up. The round will now enable the start-up to spread its wings and enter the Saudi market which has seen phenomenal growth over the last year.
PC: Wamda
Investors and Strategic Partners
The funding round was led by Sophia Collective, a female founder-specialised venture, and regional angel investment outfit NKHEL, the family office fund of the founders of stock brokerage Zerodha. Other angel investors were notable across the region and included Shark Tank Arabia high- profile investor Maha Taibah.
“Female-founded startups received only 1% of VC funding in the region in 2023. That isn’t right, and that’s why we’re so excited to invest in Powder Beauty, right during their growth,” she said. And with this new backing, the journey toward Powder Beauty is bound to have the steepest goals: become the leading brand across the Middle East in almost all respects.
Powder Beauty’s Vision and Market Strategy
Powder Beauty was founded in 2018 by Ayat Toufeeq, Amina Grimen, and Marriam Mossalli, with the very evident mission to bring eco-conscious and sustainable beauty products to the Middle Eastern consumer. Since its launch, Powder Beauty has quickly become the authority when it comes to clean beauty, assuring consumers of its products in terms of being both cruelty-free and sustainably sourced.
“With this round of funding, we are on track to leverage our leading position in this high-growth but largely untapped market,” said Powder Beauty co-founder and CEO Ayat Toufeeq.
This entry into Saudi Arabia is made with the awareness that its beauty market, worth $8.7 billion, is anticipated to grow to $39 billion in the next ten years. Powder Beauty intends to maximise this opportunity and will, therefore, expand operations, premiere new exclusive brands, and introduce a new category of products.
Empowering Women in the Beauty Industry
The founders of Powder Beauty are not just concerned about clean beauty but also on changing industry dynamics. One of Powder Beauty’s co-founders, the CMO Marriam Mossalli said, “The multi-billion-dollar beauty industry sells primarily to women, but its biggest companies continue to be run mostly by men. I’m keen on having more female investors become owners within the beauty industry, shifting their role from simply consumer to shareholder.”
This investment represents an extremely powerful milestone for Powder Beauty—shoring up our financial fortitude, but also gaining entry into a network of like-minded investors who are committed to female empowerment through business.
Market Impact and Future Prospects
Having this new capital infusion, Powder Beauty is ready to change the beauty standards throughout the Middle East. The company is to introduce new brands and products, which stand for their values of sustainability and ethical sourcing. Leading the charge in changing the beauty industry of the Middle East, Powder Beauty is going to make access to clean beauty universal.
Aside from this, the anchoring of the project by the two firms cements the strength of Powder Beauty in the market. Embracing clean beauty globally, Powder Beauty paves the way in the MENA region to be the one-stop brand that will provide consumers with products that will be environmentally friendly yet high in efficacy.
The solid support of investors puts Powder Beauty on the threshold of a new future: The backing opens ways for expansion and leading the clean beauty movement in and outside Saudi. It seems to be part of an overall trend in the region where women-led businesses are finally being supported in their own push to consider gender in business investment.
