Skincare start-up Uncover raises Ksh.181M seed extension

Kenya-based skincare start-up Uncover has raised $1.4 million (Ksh181 million) in a second seed round to expand across Africa.

The beauty brand was founded in 2021 by Sneha Mehta (CEO) and Jade Oyateru, the Chief Operations Officer.

The start-up uses data provided by users on its app to create personalised skin care products with labs in South Korea.

Uncover then distributes the products online via its e-commerce marketplace and offline through local pharmaceutical retailers like Goodlife.

The new funding was led by EQ2 and IgniteXL Ventures, with participation from Chui Ventures, Samata Capital, and Altree Capital.

“The industry has represented only a few skin tones in testing and we are one of the first brands testing on women in Africa… What’s exciting is that we are starting in Africa but seeing global demand and opportunity for our solution,” Mehta said.

“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,” added Oyateru.

Uncover said the funding will go towards building its tech platform, launching new products, and scaling to new markets.

The company currently operates in Kenya, Nigeria, Uganda and Ghana, and is eyeing the Democratic Republic of Congo (DRC).

Uncover says it has over 200,000 users in these African markets as well as the diaspora, and that its revenue has grown tenfold in the last 24 months since their last funding round.

It raised $1 million in a seed round in 2022 and $100,000 pre-seed in 2021.