NAIROBI, Kenya- Uncover, an emerging African beauty brand, has successfully closed a $1.4 million Seed II funding round, propelling its mission to revolutionize skincare for women of color.
Led by EQ2 Ventures and IgniteXL Ventures, this round also saw participation from Chui Ventures, Samata Capital, and Altree Capital.
Founded in Kenya three years ago, Uncover leverages advanced K-Beauty technology combined with the healing properties of African botanicals like Baobab, Argan, and Rooibos.
As Sneha Mehta, Co-Founder and CEO of Uncover, passionately states, “Uncover is much more than a skincare brand. We are a movement to prioritize women of color who have been sidelined by the beauty industry for generations.”
The brand utilizes a tech-focused personalization platform to ensure optimal product discovery and customer education, fueling its impressive growth.
With operations in Kenya and recent expansions to Nigeria, Uganda, and Ghana, Uncover plans to set up shop in the Democratic Republic of Congo (DRC) next.
This growth is not just limited to Africa; there is also rising demand from diaspora communities globally, particularly in North America.
The latest funding round brings together a powerhouse of global and local investors.
Jade Oyateru, Co-Founder and COO of Uncover, highlights the significance of these partnerships: “We are delighted to partner with a remarkable group of investors who share our vision for the future of women’s skincare and wellness, both on the continent and beyond.”
The new capital will be instrumental in further building Uncover’s tech platform, launching new products, and expanding to new markets.
The brand’s innovative approach has resonated well, evidenced by a 10x revenue growth in the past 24 months since their last funding round.
This success was driven by their strategic expansion to Nigeria, the introduction of new data-driven products, and significant investments in their tech infrastructure.
Uncover’s strategy blends online and offline channels to scale within the African beauty market effectively.
The brand has cultivated a digital community of over 200,000 women across Kenya, Nigeria, and the diaspora, fostering engagement and loyalty. Online, Uncover’s robust consumer tech platform ensures personalized offerings and customer education.
Offline, strategic partnerships with top retailers enhance visibility, trust, and availability of their products.
This omnichannel approach is designed to meet the diverse needs of their growing customer base and ensure a seamless shopping experience.