Disclosean African beauty brand has successfully closed its second round of seed funding, raising 1.4 million dollars in total.
The round was led by EQ2 Ventures and IgniteXL Ventures, with participation from Chui Ventures, Samata Capital and Altree Capital.
Details
Uncover is a Kenyan-based company that leverages data for its women’s skincare brand. The company leverages leading K-Beauty technology and innovation, infused with African botanicals such as Baobab, Argan and Rooibos to create safe, nourishing solutions for women.
The company expanded to Nigeria, Uganda, and recently Ghana and has plans to settle in the Democratic Republic of the Congo (DRC).
Digging deeper
The latest round of funding will support the Uncover team in its plans to further develop its technology platform, launch new products, expand into new markets and continue to leverage data to build the leading skincare brand for melanin-rich skin.
Uncover says it has seen demand for its products not only from Africa but also from diaspora populations worldwide and is actively working on partnerships in key diaspora markets in North America.
What they say
Sneha Mehtathe co-founder and CEO of Uncover said, “Uncover is much more than a skincare brand. We are a movement that prioritizes women of color who have been sidelined by the beauty industry for generations. The industry represented only a few skin tones in testing and we are one of the first brands to test on women in Africa. Our data-driven products combined with a personalization-focused platform technology have fueled the company’s growth. What’s exciting is that we’re starting in Africa, but we’re seeing global demand and opportunity for our solution.”
Jade Oyateruco-founder and COO of Uncover said, “We are delighted to partner with a remarkable group of investors who share our vision for the future of women’s care and wellness, both on the continent and beyond. They bring a wealth of experience in this industry. This funding will enable us to unlock our next stage of growth, expand our product portfolio, improve our technology and reach even more consumers looking for personalized skin care solutions.”
By The Numbers
Uncover engages a digital community 200,000+ women across Kenya, Nigeria and the diaspora, and has grown its revenue 10x in the last 24 months since their last funding round.
Growth has been supported by their successful expansion into Nigeria, the launch of new data-driven products created specifically with melanin-rich skin in mind, and investments in their technology platform.
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