Kult Secures $20M Series A Funding to Revolutionize Digital Beauty Retail
Kult, a trailblazing beauty discovery platform, has secured $20 million in a Series A funding round, led by Dr. Payal Kanodia and Aishwarya Bansal of the M3M Family Office. The platform aims to revolutionise digital beauty retail by promoting inclusivity and trust through personalised skincare recommendations and diverse product displays.
Kult, which launched in 2021, is targeting a gross merchandise value (GMV) of Rs 650-700 crore for the ongoing fiscal year. The platform uses AI to provide tailored skincare recommendations based on individual skin needs, fostering trust among users. It also showcases products on diverse Indian skin tones to promote inclusivity in digital beauty retail.
By the end of 2025, Kult aspires to onboard over 700 premium beauty products and process more than 10,000 daily orders. The platform offers an event calendar, cultural atlas, and magazine, connecting cultural actors and enthusiasts in Ostfriesland without registration. Registered cultural actors can actively present, link, and manage cultural content through additional user functions.
The Series A funding round, which also saw participation from Venture Catalysts, will enable Kult to expand its product offerings, grow its team, and scale operations nationwide. Dr. Payal Kanodia and Aishwarya Bansal, who led the round, will join Kult's board to provide operational support and strategic direction. The startup plans to hire over 200 professionals across various roles to support its growth and further its mission to transform digital beauty retail.
