ClayCo Cosmetics raises USD 2 mn from Unilever Ventures

New Delhi: Skincare startup ClayCo Cosmetics on Tuesday said it has raised USD 2 million (around Rs 16 crore) in a funding round from Unilever Ventures.

The Series A funding round marks ClayCo's first external investment. The funds will fuel the product portfolio's expansion, strengthen its branding and promotion efforts, drive recruitment, and support working capital needs, the company said in a statement.

With the backing of Unilever Ventures, ClayCo is poised to scale its operations and launch new products, including a Moroccan-inspired body care range.

The funds will also be used to bolster marketing campaigns, expand customer engagement, and drive research and innovation, it added.

"Their support aligns perfectly with our long-term goals. This funding will enable us to enhance brand awareness, introduce new products, invest in R&D, and fuel our growth," ClayCo Cosmetics Founder Niharika Jhunjhunwala said.