Protouch is an Indian company that deals with beauty appliances and is fast-growing, and it has already finished its pre-Series A round, raising $2 million. GVFL led this huge capital inflow, although other investors had a substantial contribution. The effective capital round supports the high investor confidence in the innovative products of the brand and its ability to achieve a significant market share of the growing Indian beauty-tech market. Since this investment, Protouch has gained a valuation of $10 million

Strategic investors’ participation and utilization of fresh funds

GVFL, which is one of the major venture capital players, led the $2 million pre-Series A round. Ennission India Capital and Anicut Capital were also strategic investors in the funding round. The fusion of these investors is a confirmation of the business concept of Protouch and its capability in bridging the gap between professional results and home convenience.

The new capital raised by Protouch has been wisely invested to drive the growth and innovations of the company in various important directions. The brand intends to launch new products, namely, in the haircare and skincare categories, thus diversifying its products and serving a larger consumer group.

A significant percentage of the funds will be used to increase R&D, enabling Protouch to remain ahead in making technology-driven smart devices. The company is determined to advance its online and offline retail outlets to improve access and market coverage in India. Protouch is also strategizing to have its own manufacturing unit within the next few years, a move that is most likely to increase quality control, efficiency, and supply chain management.

The founder of Protouch, Tanisha Lakhani, said, “Consumers are seeking smarter, faster, and more effective beauty solutions. At Protouch, we are committed to simplifying beauty through innovation and functionality. This investment from GVFL and other partners will help us accelerate our mission to make professional-quality beauty devices accessible to every household.”

Quotation Source: inc42  

Growth and market position

In 2022, Tanisha Lakhani founded Protouch. Protouch is a company that is involved in the niche market of beauty and personal care appliances. The main idea of the brand is to provide high-tech, yet affordable solutions to haircare, skincare, and grooming to close the gap between affordable at-home practices and high-end treatments in a professional salon.

The product strategy of Protouch is to offer products between low-quality, mass-market alternatives and high-quality, expensive international products. The brand boasts of innovation in unique products, which are technology-driven and created and designed to match the Indian hair, skin, and weather conditions to guarantee maximum performance and longevity.

The innovative product line of the company also contains the first automatic hair multi-styler in India, which is powered by Coanda Airflow Technology. The first LED-based beauty products that have been clinically tested for skin and hair care usage. A two-sided trimmer with a ceramic trimming edge.

Since 2022, Protouch has shown an impressive growth curve and, at the same time, remains profitable during its rather brief history since its inception. The company is reported to have had more than 2 lakh customers in India and has managed to spread its market to the Middle East. Within a span of 30 months, Protouch has registered a 15x revenue growth. Protouch aims to expand further and strategically aims to develop into an established household beauty appliance brand in three to five years.

The Managing Director of GVFL, Mihir Joshi, said, “Protouch is addressing a clear and growing opportunity in India’s beauty-tech segment. The brand combines product innovation, design, and consumer insight to bring professional-grade results into homes. We believe Protouch is well-positioned to become a category leader as the demand for high-quality, technology-enabled beauty solutions continues to rise.”

Quotation Source: MarcaMoney  

Conclusion

Protouch has been able to raise $2 million in a pre-Series A round of funding, led by GVFL and backed up by Ennission India Capital and Anicut Capital, which places the company at a valuation of $10 million. This capital will be used in key projects such as diversification of its products in both haircare and skincare, increasing research and development, as well as setting up its manufacturing facilities. Through this strategic funding, Protouch is now well prepared to speed up its mission of making beauty simple via innovation, as well as meet its objective of becoming a category leader in the Indian market of beauty appliances.