Kenya’s Uncover, a skincare brand, raised USD 1 million in seed capital to scale up its operations in the country and establish a presence across Africa.
The new funding brings the total amount raised by Uncover, since its launch in 2020, to $1.225 million.
FirstCheck Africa, Samata Capital, Future Africa and IgniteXL participated in the round, in addition to angel investors ex-SokoWatch COO Kwenhui Tawah, and ex-L’Oréal executive and current WPP Scangroup CEO Patricia Ithau.
“The funds will be used to fund the launching of more products, going into additional markets and also improving on our tech and data to produce effectively, reach and market to our audience,” Uncover co-founder and Chief Executive Officer Sneha Mehta said.
According to market-analyst firm Mordor intelligence, the beauty and personal care products market in Africa and in the Middle East will expand at a compound annual growth rate of 3.1% over the next five years.
