WishCare, a sustainable D2C startup providing skincare and haircare products, has made headlines by raising $2.4 million (Rs 20 crore) in its maiden institutional round of funding. The round was led by Unilever Ventures, which is the venture and growth capital arm of Unilever.

As per the startup, the freshly raised funds will enable the startup to amplify research and development capabilities.

Further, the funds will be used by the startup to focus on formulating high-efficacy products fortified with clinically tested ingredients.

WishCare | Toxin-free Beauty and Personal Care Brand

Founded by Stuti Kothari, Ankit Kothari, and Ayush Kothari in 2019, WishCare is a sustainable D2C personal care brand that offers a diverse range of haircare and skincare products that are natural and toxin-free.

These haircare and skincare products include bond repair hair treatments, hair growth serums, sunscreens, face serums, and active-based body lotions.

Speaking about the development, Stuti Kothari, Co-founder of WishCare, stated that WishCare’s focus has always been to understand consumers’ needs and co-create products that are innovative and result-driven with them. As per Kothari, the startup uses nature-mimicking scientific, clinically tested, and research-backed ingredients that enable it to solve the customer’s concerns.

Kothari added,

“As we enter the next phase of growth, we look forward to working together with Unilever Ventures to help the brand set new benchmarks in the industry.”

Statement from the Investor

Commenting on the development, Pawan Chaturvedi, Partner at Unilever Ventures, expressed his delight to have backed WishCare as an addition to its fast-growing beauty and wellness portfolio in India.

Chaturvedi added,

“WishCare has built a suite of evidence-based products that have shown rapid growth, and we’re looking forward to supporting the founders to build a long-lasting brand.”

Claiming to have around 10 lakh customers, WishCare products are available on its D2C website and over 15 marketplaces like Nykaa, Amazon, Flipkart, Purplle, and Myntra, amongst others. As per the startup, it is well-positioned to strengthen its presence in India and expand internationally. It aims to capitalize on the growing online market for science-backed skincare and haircare products.

WishCare claims to have grown 4x in the last 12 months while maintaining a double-digit EBITDA, with its current ARR standing at Rs 85 crore.

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