Deal Overview
Gurugram-based skincare startup KorinMi has successfully raised ₹10 crore ($1.2M approx.) from the Lotus Herbals Innovation Fund. This investment marks a strategic push by the parent brand to consolidate its footprint in the high-growth Indian beauty and wellness segment.
Company Background
Founded in 2024 by Reshbha Munjal and Jenovia Daun Jung, KorinMi positions itself as a clinical-first beauty brand. It combines authentic Korean skincare technology with customized treatments designed specifically for Indian skin types and weather conditions. Since opening its flagship Gurugram clinic in October 2024, the company has served over 3,000 clients.
Strategic Expansion
The fresh capital will be deployed to accelerate physical expansion. KorinMi plans to enter Tier-1 markets, specifically Mumbai, Bengaluru, and Hyderabad. The company utilizes a hybrid model, combining clinical treatments with a D2C product line manufactured in Korea to ensure continuity of care between clinical visits.
Investor Insight
This deal represents a classic corporate venture strategy. By tapping into its $50 million innovation fund, Lotus Herbals is not just providing capital but leveraging its industry expertise to mentor early-stage players—a playbook previously utilized in their 32% acquisition of Fixderma in 2021.
Founder Takeaway
KorinMi’s success highlights the power of niche localization. By taking proven international science (Korean aesthetics) and modifying the delivery mechanism for the specific needs of the local demographic (Indian climate and skin profile), the founders built a defensible moat that attracted institutional corporate backing.