Uncover, a pioneering Kenyan marketplace specializing in personalized skincare products, has secured $1.4 million in seed funding aimed at accelerating its expansion into key international markets. Launched in 2021 by co-founders Sneha Mehta and Jade Oyateru, Uncover has garnered attention for its innovative approach to skincare, leveraging user-provided data to tailor products uniquely suited to individual needs.
The funding round, Uncover’s third to date, was led by EQ2 Ventures and IgniteXL Ventures, with additional participation from Chui Ventures, Samata Capital, and Altree Capital. This round also facilitated exits for early investors through a secondary sale, underscoring the strong demand and investor confidence in the company’s growth trajectory.
CEO Sneha Mehta expressed enthusiasm about the company’s expansion plans, highlighting their strategic move into the US, Ghana, and Uganda markets. “What’s exciting is that we are starting in Africa but seeing global demand and opportunity for our solution,” Mehta stated, emphasizing Uncover’s role in catering to a diverse range of skin tones and needs, which has historically been underrepresented in global skincare testing.
Uncover’s proprietary technology utilizes data insights gathered from user interactions on its app, including quizzes and feedback mechanisms, to formulate personalized skincare regimens. These products are developed in partnership with labs based in South Korea, renowned for their advanced skincare innovations. Distribution occurs through Uncover’s e-commerce platform and strategic retail collaborations with major pharmaceutical chains such as Goodlife and Medplus across Kenya and Nigeria.
With a rapidly growing user base exceeding 200,000 across Kenya, Nigeria, and the diaspora, Uncover has reported substantial revenue growth, achieving a tenfold increase since its last funding round. The startup also reached a significant milestone by breaking even in the past year and is on track towards profitability, reflecting its robust business model and market traction.
Claire Chang from IgniteXL Ventures praised Uncover’s approach, stating, “We are incredibly impressed with Uncover’s use of data and technology to understand their core customer’s needs.” This sentiment echoes the broader industry sentiment towards Uncover’s innovative disruption within Africa’s burgeoning beauty and personal care market, projected to reach $83.19 billion by 2028. With this funding, Uncover hopes for global expansion by that time.
