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Wow Skin Science Raises $48 Million from Singapore's GIC

June 27, 2022
June 27, 2022
Wow Skin Science

Bengaluru-based D2C skincare brand Wow Skin Science raised INR 375 Cr ($48.02 million) from Singapore's sovereign wealth fund GIC.

WHO: Founded in 2014 by Manish and Karan Chowdhary and Ashwin and Arvind Sokke, Wow Skin Science offers a range of personal care products across categories such as skin, hair, bath and body, wellness, nutrition, and health. The first products launched under the Wow brand, and three other brands—Nutrava, Body Cupid, and Shaving Station—were added later. The Bengaluru-based business also has a US-based subsidiary.

WHY: The fresh capital will be used for brand building, hiring talent across verticals, and launching new products.

DETAILS:

  • Wow Skin Science has raised INR 375 Cr ($48.02 million) from Singapore's sovereign wealth fund GIC.
  • With the investment, GIC will hold 17.24% in the company on a fully diluted basis, according to filings with the Registrar of Companies. 
  • This round put Wow Skin Science’s post-money valuation at $275 to $280 million, and the company is rumored to be raising another round at a $400 to $420 million valuation.
  • In 2021, the company's operating revenue increased by 15.6x from 2020 to $12.8 million.
  • The start-up's last funding round happened 14 months ago when it raised $50 million from ChrysCapital for a 35% stake.
  • Wow Skin Science has 2,500 retail stores in the US and claims to have 300 SKUs as of now.
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