The beauty and personal care startup honestly secured Rs 3.2 crore in its pre-seed funding round from  Better Capital. The funding round also saw the participation of other investors including QED  Innovations and senior leaders from CRED, polygon, and Flipkart. The startup intends to use this fresh  capital to scale its operations, and product development, increase its offerings, initial product launch,  and develop market presence.  

Honestly allows users to share their reviews among themselves. The company will focus on the B2B  revenue model to enable other brands to use the-driven platform and APIs, and use it in their product  pages. The company aims to expand its network and reach around 1 million users across India in the  next few years. The artificial intelligence will analyze the product’s ingredients and help users  understand how their skin will react to the products. This technique will allow the users to find the  products that might fit into their routines. The company plans to use this investment to solidify its  position in the market. 

The co-founder of Honeslty, Vivek Madani told ET that after the company proves its B2C user  application it will have enough proprietary data to offer e-commerce platforms APIs and integrate into  their platforms. The startup plans to go deeper in India and expand in the international market  including UAE and the UK. This investment will help the firm build a strong marketing and engineering  workforce in the next few months. The Better Capital mentioned that on platforms like Reddit, we can  see how broken skin care is today and consumers are looking for products that go well with their skin  types.  

The company offers several skincare and beauty products including toners, cleansers, moisturizing  creams, and lotions. The skin care startup aims to help its customers achieve problem-free skin tones.  The company claims to use safe, and nourishing natural ingredients in its products. The products  offered by the firm are scientifically tested and expert-formulated. The brand also offers customized  skin care routines for its customers according to their skin types. The investment will help the company  strengthen its product services through its integrated services. 

Conclusion: 

Honeslty is a skincare and beauty product-selling AI-powered startup that secured Rs 3.2 crore in its  seed funding round. Better Capital led the funding round with the participation of QED Innovations and senior leaders from Polygon, CRED, and Flipkart. The company intends to use these fresh proceeds to scale up its operations, expand its network, initial product launch, meet market demands, and  enhance its platform for better user experience. The company offers online platforms including websites that allow users to share reviews about the products. The company provides clinically tested  skincare products based on different skin types. The categories offered by the company include  cleanser, lotion, face serum, and moisturizer. The company faces competition from other skincare and  beauty brands such as MamaEarth, Zulily, and Hello Bello.