Illustration: Rahul Awasthi
Illustration: Rahul Awasthi

Media and e-commerce startup Incnut Digital has raised around $4 million (approx Rs 30 crore) in a Series A funding round led by RPSG Ventures, an early stage consumer-centric venture capital fund backed by RP-Sanjiv Goenka Group.

Incnut Digital, which owns and operates online beauty and wellness community StyleCraze, parenting network MomJunction and personalised beauty care brands like SkinKraft and Vedix, said the funds will be utilised for strengthening and expanding its research and development (R&D) labs, overall infrastructure and artificial intelligence (AI) driven data technology.

“Our vision at SkinKraft and Vedix is to revolutionise beauty with customised e-commerce. Since the last few years, we have seen an increased interest in customised skincare… With RPSG Venture’s operational experience and expertise in the consumer domain, we will be able to strengthen our positioning and expand more rapidly across India,” IncNut CEO Chaitanya Nallan said.

RPSG Ventures head Abhishek Goenka said the company sees an incredible potential in the data-driven skincare industry.

“SkinKraft & Vedix have been successful in building, scaling, and sustaining a content to commerce community and have leveraged that in connecting the dots between brand building and performance. We, at RPSG Ventures, see an incredible potential in the data-driven skincare industry. We are delighted to support the company in developing the technology as they start to scale the business,” Goenka said.

Chaitanya Nallan, Sangram Simha, and Veerendra Shivhare built Incnut together in 2011. IncNut secured a seed round of Rs 50 lakh from Venture East in 2013, which was later purchased by Japanese conglomerate Istyle in 2018.

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