Hyderabad: Cosmetics and artificial intelligence is not a popular combination. However, going against popular notion has what led to the conceptualisation of a technology-driven customised skincare solution called SkinKraft.
Started around two years ago, the Hyderabad-based company provides customised skincare regime for Indian women. It uses machine learning and artificial intelligence-driven technology platform to get customers answer a set of questions to determine their skin type. And then the company provides the right product for the customer, prepared by the in-house team of dermatologists and researchers.
The customers are provided with three products – cleanser, moisturiser, and, a skin-specific product to address their primary concern. “We started a women-oriented media company Stylecraze and MomJunction, which used to get 50 million visitors per month and one of the pressing problems for women in terms of skin care was that mass-produced products did not suit almost 35 per cent of them. That is when we thought about producing a customised skincare product. And that is how SkinKraft came into being in 2017, wherein we took all the questions that a dermatologist would usually ask patients and came up with customised solutions,” said Chaitanya Nallan, co-founder and CEO.
Started by Nallan, Veerendra Shivhare (CTO), and Sangram Simha (CMO), SkinKraft has so far got 1.5 million users, who have answered the Skin Profile Questions (SPQ), and in the last one-and-half year it has assisted 2.50 lakh users with 40,000 kits sold in the last one month alone.
Starting at Rs 999, the regime kit provides formulations for skin considerations such as acne, dark spots, dark patches, and tanning, and, asks questions about not only the skin type but even about the customer’s lifestyle and eating habits so as to get a complete picture. The company claims that 95 per cent of the ingredients used in the products are naturally derived.
SkinKraft also owns a brand called Vedix, which provides customised haircare solutions through the use of Ayurvedic products. It has a contract manufacturing unit in Jeedimetla and is planning to set up its own plant in the next couple of months in Hyderabad. It is also looking at doubling its user base to 6 to 7 million by next year and is already profitable as a company. In terms of investments, the company had raised Rs 50 lakh from VentureEast in 2013 and in 2018, that stake got acquired by Japanese conglomerate brand Istyle for Rs 28 crore.
Nallan said the company was looking at raising $7-8 million in funding in the next two to three months, which would be used for increasing the efficiency of its technology. Going ahead, it plans to launch haircare solutions from SkinKraft brand while also unveiling skincare regime from Vedix brand.