KorinMi Secures $1.14 Million from Lotus Herbals Innovation Fund
Gurugram-based KorinMi, a company specializing in premium Korean skincare and hair treatments, has successfully raised $1.14 million (Rs 10 crore) in a funding round led by the Lotus Herbals Innovation Fund. This investment is aimed at expanding the company’s presence across India by opening new clinics in major cities like Mumbai, Bengaluru, and Hyderabad.
Company Background
KorinMi, founded in 2024 by Reshbha Munjal, offers advanced skincare solutions that are tailored to the needs of Indian consumers. The company combines cutting-edge Korean technology with personalized care to deliver radiant and youthful results. Operating both physical clinics and a direct-to-consumer (D2C) skincare product line, KorinMi has quickly made a name for itself in the beauty industry.
Expansion Plans
The newly acquired funds will be strategically used for expanding KorinMi's physical footprint in India. The company currently operates a clinic in Gurugram and plans to establish new locations in other metropolitan areas. The expansion aims to meet the growing demand for high-quality skincare treatments in these regions.
Lead Investor: Lotus Herbals Innovation Fund
The Lotus Herbals Innovation Fund, which led this funding round, has been actively investing in early-stage beauty and wellness startups in India. With a corpus of $50 million, the fund focuses on diversifying into various segments of the beauty industry.
Leadership and Vision
Reshbha Munjal, Founder and CEO of KorinMi, has been instrumental in steering the company towards achieving its mission. Alongside Munjal, Jenovia Daun Jung, the co-founder and Chief Operating Officer, oversees the treatment and consultation processes. Jung, a South Korean national with experience in the Korean beauty industry, ensures that the company’s offerings are both authentic and effective. "We are excited to bring our advanced Korean skincare solutions to more cities in India," said Munjal.
Conclusion
With this latest funding round, KorinMi is well-positioned to expand its reach and continue offering premium skincare treatments tailored for Indian consumers. The company’s focus on quality and personalized care, combined with the support of Lotus Herbals Innovation Fund, sets the stage for significant growth in the coming years.