One of the rapidly-growing platforms for skin, hair and aesthetic wellness, MyDermacy, has raised a fresh round of undisclosed funding from Cyber Carrier, an India-focused Chinese venture capital fund as well as existing investors.
The current round has been reportedly raised against fresh equity amounting to 15%-18%. This is a second round of funding having previously raised $150,000 from prominent angels including Promoters of Spectranet and Daljit Singh (President - Fortis Healthcare), besides others.
Cyber Carrier, which launched with a target corpus of $45million by China headquartered intelligent mobile advertising platform Yeahmobi, founded by Peter Zou, had recently announced plans to back startups in India.
The early stage venture fund usually invests $50,000 to $3 million in the second and third round of funding.
Ankit Khurana, Founder & Chief Executive Officer, MyDermacy, said, "This funding will primarily be utilized towards the expansion of the product offering and leadership hiring. The health and wellness industry is undergoing a revolution in terms of technology and services. MyDermacy is focused on being at the forefront of this change in the digital world.
While many consumers endure various problems in discovering and buying the ideal solutions for their skin and hair, through MyDermacy, we strive to bring transparency and credibility to people searching for aesthetic results. We are also working on our next level of a diversified product offering on both consumer and B2B side. The investment from Cyber Carrier for our venture has allowed us to aggressively execute our strategically-planned expansion in the tremendous and competitive wellness market in the country."
Jessica Wong, Founder and Managing Partner, Cyber Carrier, said, "MyDermacy is targeting a large market, with immense understanding of both the consumer and the business. The team has been deeply immersed in the industry for many decades now, and has demonstrated strong strategic and execution capabilities. We look forward to supporting the team in realizing their vision to be the largest aesthetic brand in the country."
