All-female Kenyan skincare brand poised to transform African beauty market
An all-female Kenyan skincare brand, leveraging technology to develop products, has raised about $1.4million for expansion to other African countries.
The company, founded by Sneha Mehta and Jade Oyateru and launched in 2021, leverages technology to develop personalized skincare products using data provided by users through its app.
The funds will enable Uncover to enter new markets, including Ghana and Uganda.
"Proud, excited, and grateful to announce Uncover's successful $1.4 million fundraising bringing in partners that truly believe in our mission as founders. It has been a ride of a lifetime in the short three and a half years since the launch of our first product and it is almost surreal to see how far we've come from a team of three and a warehouse that was my kid's bedroom," Mehta wrote in a post.
Uncover, which collaborates with labs in South Korea to create its products, has achieved significant milestones in a short period. This latest funding marks the company's third round, following a $100,000 pre-seed round in 2021 from Antler VC and a $1 million seed round in 2022. The most recent round also provided exits for early investors through a secondary sale.
Operating within Africa’s growing beauty and personal care market, which is projected to reach $83.19 billion by 2028, Uncover caters to the skincare needs of Africa’s young, fashion-savvy middle-class population.
The startup boosts over 200,000 users across Kenya, Nigeria, and the diaspora, and has seen its revenue grow tenfold in the past 24 months. Uncover also reported breaking even in the past year and is on the path to profitability.
