Mumbai-based skincare startup ClayCo has raised ₹34.59 crore (approximately $3.7 million) in a Series A funding round led by Twenty-Nine Capital Partners Ventures, with participation from ICMG Global Ventures.
This comes after the company’s earlier funding round of $2 million from Unilever Ventures in October 2024, marking its first external investment.
The fresh capital will be used to accelerate product development, expand into new categories, and strengthen the company’s working capital.
Founded in 2023 by Niharika Jhunjhunwala, ClayCo focuses on creating skincare products that blend natural ingredients with modern formulations. The brand’s first range, titled “Rituals of Japan,” features products such as cleansers, serums, moisturizers, and essences inspired by traditional Japanese ingredients like rice, sake, and azuki beans.
The company has seen strong growth in a short period. Its revenue increased from ₹5 crore in FY24 to ₹33 crore in FY25, and further to ₹72 crore in FY26, reflecting rising demand for premium skincare products in India.
ClayCo currently sells its products through its own direct-to-consumer (D2C) platform as well as leading marketplaces including Nykaa, Amazon, and Tira. It is also present on quick commerce platforms, allowing faster delivery to customers.
Looking ahead, the company plans to expand its product range beyond skincare into categories such as body care and hair care, aiming to strengthen its position in the broader beauty and personal care market.
With increasing consumer interest in ingredient-led and globally inspired skincare, ClayCo is positioning itself as a growing player in India’s evolving beauty industry.
-By Shivani Solanki
