Uncover, an African beauty brand has successfully closed the second seed funding round, raising $1.4 million in total.
The round was led by EQ2 Ventures and IgniteXL Ventures, with participation from Chui Ventures, Samata Capital, and Altree Capital.
Details
Uncover is a Kenya-based which leverages data for its women’s skincare brand. The firm leverages leading K-Beauty technology and innovation, infused with African botanicals like Baobab, Argan, and Rooibos to create safe, nourishing solutions for women.
The company has expanded to Nigeria, Uganda, and recently Ghana and has plans to set up in the Democratic Republic of Congo (DRC).
Digging Deeper
The recent funding round will support the Uncover team in their plans to further build their tech platform, launch new products, expand to new markets, and continue to leverage data to build the leading skincare brand made with melanin-rich skin in mind.
Uncover says it has seen demand for its products not only from Africa but also from diaspora populations globally and is actively working on partnerships in key diaspora markets in North America.
What They’re Saying
Sneha Mehta, Co-Founder and CEO of Uncover said, “Uncover is much more than a skincare brand. We are a movement to prioritize women of color who have been side-lined by the beauty industry for generations. The industry has represented only a few skin tones in testing and we are one of the first brands testing on women in Africa. Our data-driven products combined with a tech platform-focused personalization have fueled the company’s growth. What’s exciting is that we are starting in Africa but seeing global demand and opportunity for our solution.”
Jade Oyateru, Co-Founder and COO of Uncover said, “We are delighted to partner with a remarkable group of investors who share our vision for the future of women’s skincare and wellness, both on the continent and beyond. They bring a wealth of experience in this industry. This funding will empower us to unlock our next stage of growth, expand our product portfolio, enhance our technology, and reach even more consumers seeking personalized skincare solutions.”
By The Numbers
Uncover engages a digital community of 200,000+ women across Kenya, Nigeria, and the diaspora, and has grown its revenue 10x in the last 24 months since their last funding round.
The growth was underpinned by their successful expansion to Nigeria, the launch of new data-driven products made specifically with melanin-rich skin women in mind, and investments in their tech platform.
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