ClayCo Cosmetics raises $2 million from Unilever Ventures

Skincare brand ClayCo Cosmetics has raised $2 million (about Rs 16 crore) in a funding round from Unilever Ventures, the venture and growth capital arm of Unilever.

The funds will be used for expanding the product portfolio, investing in branding and marketing, and supporting working capital needs.

The brand aims to bring premium and high-performance skincare solutions to the Indian market, the company said in a statement.


Founded in March 2024 by Niharika Jhunjhunwala, ClayCo is a premium skincare brand that blends ancient beauty rituals from around the world with modern science.

The company sells its products both through its own website and various online ecommerce platforms.

“This funding will enable us to enhance brand awareness, introduce new products, invest in R&D, and fuel our growth. As consumers become more aware of global ingredients like fermented rice, ginseng, and CICA, they are willing to invest in high-quality, efficacious skincare,” said Jhunjhunwala.

ClayCo plans to expand its operations and introduce new products, including a Moroccan-inspired body care range.

In the skincare segment, the Mumbai-based firm competes with brands such as Peak XV Partners-backed Minimalist, Vertex Ventures-backed Pilgrim, A91 Partners-backed Plum, Nykaa’s Dot & Key, Honasa Consumer’s Mamaearth, and The Derma Co.

Commenting on the investment, Pawan Chaturvedi, partner - Asia at Unilever Ventures, said that it is “pleased to support ClayCo in their mission to elevate India’s beauty landscape by introducing global beauty rituals that celebrate individuality and innovation.”

On June 12, D2C skincare firm Foxtale raised $18 million (Rs 150 crore) in a funding round led by Singapore-based Panthera Growth Partners.