Kult, a rising player in the beauty tech and discovery space, has secured $20 million (over ₹170 crore) in a significant Series A funding round. The round was led by Dr. Payal Kanodia and Aishwarya Bansal of the M3M Family Office, with additional backing from Venture Catalysts.
Strategic Investment to Fuel Growth and Innovation
The capital infusion will be strategically allocated to expand product offerings, scale up operations, and strengthen the team across key verticals including sourcing, engineering, product development, and user experience. With this investment, Kult aims to significantly boost its market presence in the Indian beauty and personal care (BPC) ecosystem.
AI-Powered Skincare and Inclusive Beauty
Founded by Karishma Singh and Ruchika Pallavi, Kult offers AI-driven skincare recommendations tailored to individual needs. The platform prides itself on showcasing products across diverse Indian skin tones, ensuring inclusivity and personalization. Backed by insights from over 300 global beauty experts, Kult is building a next-generation, data-powered beauty discovery platform.
Board Expansion and Talent Acquisition
As part of the investment, both Payal Kanodia and Aishwarya Bansal will join Kult’s board, contributing strategic vision and leadership. Kult also plans to hire over 200 new employees in product, engineering, and design teams to support its aggressive growth roadmap.
Aggressive Expansion Plans by 2025
By the end of 2025, Kult aims to:
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Onboard over 700 premium beauty products
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Process more than 10,000 orders per day
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Accelerate product innovation through AI and machine learning
These milestones are aligned with the platform’s mission to become a leading digital-first beauty destination for India’s growing online consumer base.
India’s Beauty Market: A Growing Opportunity
India’s beauty and personal care market is projected to grow at a 10% CAGR, reaching $30 billion by 2027. The online beauty segment alone is expected to contribute $10 billion, representing one-third of the total market. Kult is well-positioned to capitalize on this surge, leveraging its AI technology and content-driven approach.
Facing Stiff Competition in the D2C Beauty Space
Kult competes with major players such as Nykaa, which offers AR-based try-ons and content-based product discovery, as well as Good Glamm Group, known for its content-to-commerce strategy. Smytten is another key competitor, offering trial packs and expanding into offline experiences.