Prolixr Raises Seed Round Funding From Prominent Angel Investors.
The skincare startup has witnessed a revenue of INR 5.18 CR in last 6 months and will be using the undisclosed funding to expand the scalability of the brand in India and for community & product development. The round saw participation from Dhianu Das from Alfa Ventures and Divij Bajaj from Power Gummies
New Delhi, 19 November 2020: Prolixr, a DTC (direct-to-consumer) and homegrown millennial skincare startup, today announced that it has raised an undisclosed amount of funding in a seed round from Alfa Ventures and Divij Bajaj, Founder & CEO, Power Gummies.
With a vision to offer premium and innovative skincare experience to millennial women within the comfort of their homes, Prolixr has already witnessed exponential growth in the business. The growing demand for a premium skincare experience without stepping out of homes during the pandemic led to Prolixr witnessing a total revenue of INR 5.18 crore in the last 6 months (May-October 2020). Prolixr primarily focuses on the Beauty Mask segment which represents a niche of the cosmetic market that has shown booming growth in the last few years.
The funding validates the brand’s scalability and the demand for a premium skincare experience in a massive personal care industry which is touted to reach $20 billion in India by the year 2035, as per ASSOCHAM report. Prolixr will use this funding for - expansion, R&D/product development, and community development. Prolixr is on track to achieve a target of INR 12 Cr ARR by March 2021.
Founded in December 2018, Prolixr resonates with the ideologies of a modern, millennial Indian woman, offering authentic, latest on-trend, safe, high-quality, allergy-tested products to women. Prolixr has witnessed maximum sales in the age group of 18-35 years across cities including Delhi, Mumbai, Kolkata, Bangalore, Pune, Chennai, Surat, Jaipur, Hyderabad, and others.
Jayesh Hans, Aditya Sharma, and Mayur Mahajan, Founders, Prolixr, said, “Prolixr is a result of utmost dedication and passion to introduce innovation and customer-centricity to the Indian skincare industry. The market is full of offerings that are standardized and do not take Indian preferences, weather, and skin type into consideration. We saw the opportunity and bridged that gap with our premium and innovative offerings that directly spoke to the millennial woman, building resonance, and connection. With Prolixr, we want to empower millennial women to make an informed choice to experience premium skincare routines designed especially for them, without stepping into a salon. The funding validates our beliefs that the Indian skincare industry is poised for an innovative, digital, and DTC transformation.”
Dhianu Das, prominent angel investor, and Founder - Alfa Ventures, said, “At Alfa Ventures, we empower homegrown entrepreneurs with funds, mentorship, and scalability to enable successful business development. We see immense potential in Prolixr and the vision of the founders to redefine the personal care industry in India with innovation. ”
“The first time I met the founders and heard about their plans on introducing innovation and customer-centricity in the beauty mask industry, I knew Prolixr is on its way to being a category definer. With every other skincare brand functioning in the general category- Prolixr is the next game changer! ”, said Divij Bajaj, Founder & CEO - Power Gummies.