Protouch has raised $2 Mn (INR 17.72 Cr) in its Pre-Series A round led by GVFL, at a post money valuation of $10 Mn
The funding round also saw participation from Enrission India Capital and Anicut Capital
The startup plans on utilising the fresh capital to scale its product portfolio, bolster its R&D function and enhance its offline and online retail presence
Beauty appliance creater Protouch has raised $2 Mn (INR 17.72 Cr) in its Pre-Series A round led by GVFL, at a post money valuation of $10 Mn. The round also saw participation from Enrission India Capital and Anicut Capital.
The startup plans on utilising the fresh capital to scale its product portfolio, bolster its R&D function and enhance its offline and online retail presence. Protouch is tarobtaining further category expansion and aims to establish itself as a houtilizehold beauty appliance brand within the next three to five years, the startup stated in a statement.
Founded in 2022 by Tanisha Lakhani, Protouch develops and markets tech-driven beauty and personal care appliances tailored for Indian consumers. The brand’s portfolio features LED-based beauty devices, ceramic-edge trimmers, serums, toothpastes, among others. Lakhani notified Inc42 that Protouch initially raised about INR 8 Cr, prior to this round.
“Consumers are seeking smarter, rapider, and more effective beauty solutions. At Protouch, we are committed to simplifying beauty through innovation and functionality. This investment from GVFL and other partners will assist us accelerate our mission to create professional-quality beauty devices accessible to every houtilizehold,” Lakhani stated.
It sells its products via its D2C platform, and ecommerce sites including Amazon, Flipkart and Myntra. It claims that it has served over 2 Lakh customers across India and has also expanded into the Middle East market.
On the financial side, it stated that Protouch’s topline has seen a 15X growth in 30 months while also remaining profitable.
Protouch bids to tap into the consumer beauty tech market in India — specifically home-utilize beauty or grooming tech devices. The global personal care appliances market is projected to grow by 5.5% CAGR to $9.1 Bn by 2034.
Given the opportunity presented by the personal care appliances business, the competition in the segment is also on the upward trajectory in recent times. Emerging brands such as Frizty, Beaute Secrets, Winston, among others, have been eyeing to crack their space in the market.
Besides, larger new-age tech companies like Honasa Consumers are also reported to be eyeing a piece of the beauty tech pie. In July, the Mamaearth parent was reportedly preparing for its next phase of expansion with a focus on beauty tech products such as laser mquestions, LED light therapy devices, face massagers, and facial rollers, a marked shift from its current product mix of traditional beauty and personal care offerings.
The market, however, continues to be dominated by established players like Philips, Panasonic, and Havells, which cumulatively control over 40% share in the market for consumer personal care appliances in India.
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