Mumbai-based skin care brand Clayco has raised a $4.1 million series A funding round.
The round was led by Unilever’s corporate venture capital arm, Unilever Ventures, which previously invested $2 million in Clayco in 2024, shortly after the brand’s debut that year. Singapore-based ICMG Global Ventures II Pte. Ltd. also participated in this latest funding round.
Clayco was launched in 2024 with a premise of developing products inspired by global beauty rituals. Its assortment so far includes a Japanese-inspired skin care line featuring a Detoxifying Matcha Clay Mask; Tsubaki Cleansing Oil; sulfur acne paste, and more.
Prices range from 599 Indian rupees for the acne paste to 1,398 Indian rupees for a set of PDRN sheet masks (or about $6.50 to $15).
This infusion comes as Clayco’s annual revenues have grown to roughly $7.7 million.
“For too long, Indian consumers who wanted truly world-class skin care had to look abroad. We built Clayco to change that — to prove that you don’t have to compromise on formulation, texture or results when buying an Indian brand,” said Clayco founder and chief executive officer Niharika Jhunjhunwala in a statement. “This funding allows us to go further, faster — into new categories, new formulations and deeper into the lives of the Indian consumer.”
Clayco is available direct-to-consumer, via Amazon and at India-based retailers like Nykaa, Tira and a number of quick-commerce (or “Q-Commerce”) platforms in the region.
With this funding, Clayco will look to introduce new products, including inaugural innovations in hair and body care; boost its retail presence, and scale supply chain capabilities.
Last month, Unilever Ventures took a minority stake in Novos, a New York-based longevity supplement company, for an undisclosed sum.
The firm’s investment in Clayco comes as India — which is the most populous country in the world — is becoming an increasingly key target for beauty and fashion companies. For instance, Cartier and Harrods both hosted galas for Diwali last year, while Galeries Lafayette recently opened a Mumbai store and plans to open a next outpost in Delhi.
