KENYA – Uncover, a beauty brand, has successfully closed a US$1.4 million Seed II funding round to support the Uncover team in their plans to build their tech platform further, launch new products, expand to new markets.
EQ2 Ventures and IgniteXL Ventures led the round, which also included Chui Ventures, Samata Capital, and Altree Capital.
Uncover is a data-driven women’s skincare brand founded in Kenya three years ago. The firm leverages leading K-Beauty technology and innovation infused with the healing powers of African botanicals like Baobab, Argan, and Rooibos to create safe, nourishing solutions for women.
Uncover has operations in Kenya and has expanded to Nigeria, Uganda, and recently Ghana – with plans to set up shop in the Democratic Republic of Congo (DRC).
“Uncover is much more than a skincare brand. We are a movement to prioritize women of color who have been side-lined by the beauty industry for generations,” Sneha Mehta, Co-Founder and CEO of Uncover, said.
“The industry has represented only a few skin tones in testing, and we are one of the first brands testing on women in Africa.
“Our data-driven products and a tech platform-focused personalization have fueled the company’s growth. What’s exciting is that we are starting in Africa but seeing global demand and opportunity for our solution.”
The round brings together global and local investors to support the Uncover team in continuing to leverage data to build the leading skincare brand with melanin-rich skin in mind.
Uncover says it has seen global demand for its products from Africa and diaspora populations and is actively working on partnerships in key diaspora markets in North America.
“We are delighted to partner with a remarkable group of investors who share our vision for the future of women’s skincare and wellness, both on the continent and beyond. They bring a wealth of experience in this industry,” Jade Oyateru, Co-Founder and COO of Uncover, said.
“This funding will empower us to unlock our next growth stage, expand our product portfolio, enhance our technology, and reach even more consumers seeking personalized skincare solutions.”
Uncover engages a digital community of 200,000+ women across Kenya, Nigeria, and the diaspora and has grown its revenue 10x in the last 24 months since its previous funding round.
Their successful expansion to Nigeria underpinned the growth, the launch of new data-driven products made specifically with melanin-rich skin women in mind, and investments in their tech platform.
The company says the cross-pollination between online and offline is critical to scaling within the African beauty market.
Uncover leverages an omnichannel approach: Online, it is building a solid consumer tech platform driven by data to ensure optimal product discovery, customer education, and personalized offerings.
Offline, the company has also built partnerships with top retailers to drive visibility, trust, and availability.
Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals and insights from Africa’s business, economy, and more. SUBSCRIBE HERE
