Uncover, a tech-enabled beauty brand, has secured $1.4 million in a Seed II funding round to enhance its technology platform, launch new products, and expand into new markets.
Founded in 2021, Uncover is a women’s skincare brand that leverages data to create science-backed products tailored to the needs of women. The startup’s tech platform facilitates product discovery, provides educational information, and fosters community engagement, utilizing thousands of data points to personalize skincare solutions for its users.
Uncover has built a digital community of over 200,000 women across Kenya, Nigeria, and the diaspora. Over the past two years, the company has grown its revenue tenfold and recently expanded into Uganda and Ghana. The new funding round, which was oversubscribed, will further support its growth ambitions.
The Seed II round was co-led by EQ2 Ventures and IgniteXL Ventures, with additional participation from Chui Ventures, Samata Capital, and Altree Capital. Uncover also facilitated a significant secondary transaction to meet investor demand.
The newly raised funds will be used to further develop Uncover’s tech platform, introduce new products, and expand to additional markets. The company aims to leverage its data-driven approach to become the leading skincare brand for melanin-rich skin. Uncover is also exploring partnerships in key diaspora markets in North America to meet global demand.
Sneha Mehta, the co-founder and CEO of Uncover: “Uncover is more than a skincare brand; it’s a movement prioritizing woman of colour who have been overlooked by the beauty industry. Our data-driven products and personalized tech platform have fueled our growth. We see global demand and opportunity, starting from Africa.”
Jade Oyateru, co-founder and COO of Uncover, expressed excitement about the support from investors who share Uncover’s vision for the future of women’s skincare and wellness. “This funding will empower us to unlock our next stage of growth, expand our product portfolio, enhance our technology, and reach even more consumers seeking personalized skincare solutions,” she said.
Patrick Thiriet from EQ2 Ventures praised the Uncover team, noting their clarity of vision and execution maturity. “We believe Uncover has what it takes to build a leading skincare and beauty brand for Africa and are excited to support them on this journey,” he said.
With this new funding, Uncover is set to continue its mission to revolutionize the beauty industry for women of colour, both in Africa and around the world.
