eCommerce startup IncNut Digital has raised $4 million in its Series A round. The funding round was led by early-stage consumer-centric venture capital fund, RPSG Ventures.
The startup plans to use the funding amount to strengthen and expand the Research and Developments labs.
Also, the startup plans to use the funds to improve the overall infrastructure and AI-driven data technology of its personalized beauty care brands-SkinKraft and Vedix.
Founded by Chaitanya Nallan, Veerendra Shivhare, and Sangram Simha in 2011, IncNut is a Hyderabad-based eCommerce startup that owns and operates two women-centric digital media platforms – Stylecraze.com and Momjunction.com.
Talking about the vision of the company, CEO and Co-founder Chaitanya Nallan said,
“Our vision at SkinKraft and Vedix is to revolutionize beauty with customized eCommerce. In the last few years, we have seen an increased interest in customized skincare using AI and ML. 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.”