Uncover, a personalised skincare startup based in Kenya, has raised $1.4 million in seed money to support its growth into Ghana, Uganda, and the US. Established in 2021 by Sneha Mehta and Jade Oyateru, Uncover utilises user information gathered via its application to produce personalised skincare remedies.
In partnership with South Korean labs, this data—which is acquired through quizzes and other interactive features—is utilised to create customised products. Through its e-commerce platform, Uncover directly distributes these customised regimens. In Kenya and Nigeria, it collaborates with pharmaceutical chains such as Goodlife and Medplus.
“The industry has represented only a few skin tones in testing and we are one of the first brands testing on women in Africa. What’s exciting is that we are starting in Africa but seeing global demand and opportunity for our solution,” Sneha Mehta, CEO of Uncover, said.
Uncover has completed its third funding round, raising $100,000 in 2021 from Antler VC and $1 million in 2022. The latest round allowed early investors to exit through a secondary sale, according to the CEO.
“Secondary sales were driven by demand. There was more demand than the round size,” Mehta added.
Uncover secured funding from EQ2 Ventures, IgniteXL Ventures, Chui Ventures, Samata Capital, and Altree Capital. It operates in Africa’s fast-growing beauty market projected to reach $83.19 billion by 2028. With over 200,000 users in Kenya, Nigeria, and the diaspora, Uncover has increased revenue tenfold in the past two years, achieving break-even and aiming for profitability.
“We are incredibly impressed with Uncover’s use of data and technology to understand their core customer’s needs,” Claire Chang from IgniteXL Ventures said.
With this new round of funding, Uncover is well-positioned to take the lead in customised skincare and provide solutions with an African focus to a worldwide clientele.