Kenya-based skincare start-up Uncover has successfully secured $1.4 million (Ksh181 million) in its second seed funding round aimed at expanding its operations across Africa.
Founded in 2021 by Sneha Mehta as CEO and Jade Oyateru as Chief Operations Officer, Uncover leverages user-provided data through its app to develop personalized skincare products. These products are manufactured in laboratories based in South Korea.
Uncover distributes its skincare solutions both online through its e-commerce platform and offline via partnerships with local pharmaceutical retailers such as Goodlife. The recent funding round was led by EQ2 and IgniteXL Ventures, with additional participation from Chui Ventures, Samata Capital, and Altree Capital.
“The industry has represented only a few skin tones in testing and we are one of the first brands testing on women in Africa… What’s exciting is that we are starting in Africa but seeing global demand and opportunity for our solution,” Mehta said.
“This funding will empower us to unlock our next stage of growth, expand our product portfolio, enhance our technology, and reach even more consumers seeking personalized skincare solutions,” added Oyateru.
Uncover has announced that the recently raised funding will be allocated towards enhancing its tech platform, introducing new product lines, and expanding into new markets. Currently operational in Kenya, Nigeria, Uganda, and Ghana, the company has set its sights on entering the Democratic Republic of Congo (DRC).
With a user base exceeding 200,000 across these African markets and the diaspora, Uncover has reported significant growth, with revenue increasing tenfold over the past 24 months since its last funding round. The start-up initially raised $100,000 in a pre-seed round in 2021, followed by $1 million in a seed round in 2022.
(Conversion note: $1 = Ksh.129.63)
