Uncover, a Kenyan-founded women’s skincare brand focused on melanin-rich skin, has successfully closed a $1.4 million Seed II funding round.
This investment will fuel further development of their tech platform, product launches, and expansion into new markets.
Focus on Data and Personalization
Founded three years ago, Uncover utilizes data-driven insights and K-Beauty technology combined with African botanicals to create personalized skincare solutions. They prioritize testing products on women in Africa, a market often overlooked by global brands.
The funding round was led by EQ2 Ventures and IgniteXL Ventures, with participation from African venture capital firms Chui Ventures, Samata Capital, and Altree Capital. This mix of global and local investors reflects Uncover’s aspirations to become a leading skincare brand not only in Africa but globally, particularly among diaspora communities.
Rapid Growth Driven by Innovation and Expansion
Uncover has experienced an impressive 10x revenue growth in the past two years. This success is attributed to their expansion into Nigeria, launching new data-driven products, and investing in their technology platform.
Uncover emphasizes a combined online and offline presence (“omnichannel approach”) crucial for scaling within Africa. They have built a robust online platform for personalized product recommendations and customer education, while also partnering with top retailers to increase visibility and product availability.
“Uncover is more than just a brand,” says Sneha Mehta, Co-Founder and CEO. “We’re a movement for women of colour who have been neglected by the beauty industry. The funding allows us to further our mission and cater to the global demand for inclusive skincare solutions.”
Mehta further emphasized the significance of the achievement: “Proud, excited, and grateful to announce Uncover’s successful $1.4m fundraising bringing in partners that truly believe in our mission as founders. It has been a ride of a lifetime in the short three and a half years since the launch of our first product and it is almost surreal to see how far we’ve come from a team of three and a warehouse that was my kid’s bedroom.”
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