E-commerce startup Incnut Digital has raised around $4 million funding in Series A from RPSG Ventures, an early stage consumer centric venture capital fund backed by RP-Sanjiv Goenka Group.
Incnut Digital owns and operates stylecraze.com, a portal focused on beauty, health and wellness and momjunction.com online platform on parenting. It is also behind two beauty care brands SkinKraft and Vedix.
With the funding, it looked to strengthen and expand its research and development (R&D) labs, overall infrastructure and AI-driven data technology, a release on Monday from the startup said. “Our vision at SkinKraft and Vedix is to revolutionise beauty with customised e-commerce. Since the last few years we have seen an increased interest in customised skincare using AI and ML,” CEO Chaitanya Nallan said.
Head of RPSG Ventures Abhishek Goenka said, “We see an incredible potential in the data driven skincare industry… delighted to support the company in developing the technology as they start to scale the business.”