Kult Raises $20 Million to Revolutionize Beauty Tech

Beauty tech startup Kult has secured $20 million in funding, led by M3M Family Office, to expand its app-based business. Founders Karishma Singh and Ruchika Pallavi aim for a GMV of Rs 650-700 crore this fiscal year with plans to offer personalized skincare solutions.

Kult, a beauty tech startup based in Gurugram, has raised USD 20 million in Series A funding to significantly expand its app-based business operations. The funding round, led by the M3M Family Office, aims to bolster the company's technological capabilities and operational growth.

The startup, fostering an AI-driven platform offering personalized skincare solutions, will use the funds for technology and operational expenses, according to co-founder Karishma Singh. Kult is eyeing a Gross Merchandise Value (GMV) of Rs 650-700 crore in the current fiscal year.

Adding board members from M3M Family Office, Kult aims to reach 10,000 orders daily by next year, targeting the intersection of data-driven solutions and consumer personalization in the beauty industry. The round also saw involvement from major investment firm Venture Catalysts.