WOW Skin Science is said to be looking to raise up to $75 Mn at a flat valuation from new and existing investors The company reported a 15.5X jump in its net loss to INR 135.83 Cr in FY22 The number of online beauty shoppers in India will cross the mark of 122 Mn by FY25 as per Inc42 analysis D2C skincare brand WOW Skin Science, which counts GIC and ChrysCapital among key investors, is reportedly in talks with existing and new investors to raise fresh capital at a flat valuation.
According to a Mint report, the Bengaluru-based startup is looking to raise $65 Mn-$75 Mn in primary capital at a valuation of $400 Mn, the same valuation as its previous round when GIC infused $48 Mn in 2022. WOW is said to be in talks with Japanese and Middle East-based funds for the round. “The company has appointed investment bank Investec for the fundraising process, while consulting firm KPMG is conducting vendor due diligence.
It is early days, the final contours of the fund raise will be decided in months to come,” the report quoted one of the sources as saying. Founded in 2014 by Karan Chowdhary and Manish Chowdhary, WOW Skin Science claims to formulate products with natural ingredients, and free from sulphates, silicones, mineral oils, parabens and artificial colouring. The product line includes skincare, haircare, bathing, fragrance and nutrition products.
The brand competes with the likes of Plum, Honasa, Good Glamm Group, The Ayurveda Co, and a host of other players in the BPC catego.
