The brand plan to invest this amount to drive more innovation and bring cutting edge ingredients with safe formulations to the Indian market
CosIQ, a four-month-old start-up that wants to be an Intelligent skincare brand has bagged funding of 5 million in its seed round from Shark Tank India in its fourth episode on 23rd December.
The four-month-old start-up is the brainchild of Kanika Talwar and her husband. It is a budding molecular skincare brand that offers a range of scientifically-backed products with visible results. Judges of Shark Tank India Ms Vineeta Singh, CEO, SUGAR Cosmetics, and Anupam Mittal, Founder, and CEO, Shaadi.com – Peoples Group have invested in the skincare brand against 25% share of the company.
“Getting the seed funds from Shark Tank India is a validation of our idea to create a revolution in the skincare industry with clinically proven and research-driven products. We plan to invest this amount to drive more innovation and bring cutting edge ingredients with safe formulations to the Indian market, said Angad Talwar, Co-Founder, CosIQ.
The brand already offers breakthrough formulas with all active ingredients and their percentages mentioned on the labels that distinguish them from the competition. The brand is changing the skincare industry landscape with products backed by effective clinical technologies, focusing on clean ingredients with minimalist formulations that give real results. Their only 2 ingredient Vit-C serum is the first in the Indian market and their sunscreen comes in a serum form, which highly impressed Ms Vineeta on the show.
As per a report, the skincare products market was valued at INR 129.76 Bn in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.22% during the 2021 – 2025 period, to reach a value of INR 191.09 Bn by 2025. The rise in the incidence of skin diseases and increased focus on self-care, along with improved awareness regarding skin health among people are a few of the significant factors that propel market growth. The skincare products market in India is categorized into face, body, sun care, and other skincare products segments.
With the increasing pollution and lifestyle issues, effective skincare is becoming very important in today’s time. Therefore, brands like CosIQ offering scientifically proven solutions that are inherently different from all the natural-based products from other brands and give real, tangible results are gaining a lot of customer appreciation.
Source: Business World