Unilever Ventures has made a series of investments in two Indian beauty brands.
Perfume brand Secret Alchemist has raised US$3m in a seed funding round led by Unilever’s investment branch, with participation from DSG Consumer Partners.
The brand – founded by Ankita Thadani, Akash Valia and Samantha Ruth Prabhu – is described as offering ingredient-led fragrances designed for modern consumers.
The capital raised will be used to expand Secret Alchemist’s fragrance portfolio and strengthen its formulation and R&D capabilities.
Secret Alchemist will also invest in scaling brand presence and distribution as it continues to build an “India-first brand with global ambitions”.
Pawan Chaturvedi, Partner and Head of Asia at Unilever Ventures, said: “We are delighted to partner with Secret Alchemist as it builds one of India’s first ‘clean’, fragrance indie brands.
“‘Clean’ has already become a norm in beauty globally, and we are beginning to see fragrance follow the same trajectory, and Secret Alchemist is well positioned to lead this emerging category in India.”
Thadani, co-founder of Secret Alchemist, added: “With Secret Alchemist, our focus is on building perfumes that are ingredient-led, well-formulated and uncompromising on quality.
“We are among the first in India to openly publish full ingredient and allergen disclosures in perfumery, because for us, ‘clean’ means being honest.
“This investment allows us to deepen product innovation and strengthen our R&D capabilities in line with that belief.”
Skin care brand SkinInspired also raised ₹24 crore ($321m) in Series A funding round led by Spring Marketing Capital, with participation from Lotus Herbals’ Beauty Innovation Fund.
Unilever Ventures, which is an existing investor, also participated in the round.
SkinInspired was launched in 2023 by Piyush Jain, founder and CEO, who said: “This funding round further cements SkinInspired as a brand that is raising the bar in the Indian skin care market.
“Our partnership with 200-plus dermatologists, the high repeats of our products, and backing by marquee investors shows the trust all stakeholders have placed in the brand.
“The proceeds from this round will mainly be allocated towards research and innovation, brand building and team expansion.”