Deconstruct, a science-backed skincare brand has raised ₹65 crore in a funding round from BOLD, the venture capital arm of L’Oréal, V3 Ventures and DSG Consumer Partners.
The round also saw participation from existing investors Kalaari Capital and Beenext.
The newly raised fund will be used to fuel its expansion across multiple strategic areas. This includes accelerating product innovation by developing solutions that work for diverse skin types, including sensitive skin.
The funds will also used to enhance its distribution network by expanding its presence on Quick Commerce platforms improving nationwide accessibility.
Additionally, the brand aims to diversify its product portfolio by venturing into new categories while strengthening its leadership in existing segments like sunscreens and serums.
In August 2022, the Bengaluru-based startup raised $2 million in a seed funding round led by Kalaari Capital’s flagship program CXXO and BEENEXT.
Malini Adapureddy, Founder, Deconstruct, said, “This milestone is a proud moment for us and reflects the trust our consumers and investors have placed in our vision. We have always built our products with the vision that effective skincare need not be irritating and getting customer love for the exact same reason has been incredibly rewarding Over the past year, we’ve helped 2Cr+ beginners start their skincare journey, in the most remote pin codes. This funding empowers us to singularly focus on building highly effective yet gentle products.”
Founded in 2020 by Malini Adapureddy, Deconstruct is a skincare brand that offers science-backed skincare products that it claims are gentle and non-irritating on the skin. The startup sells serums, facewashes, shampoos, and sunscreens, among others.
The company has shown 1000% growth in FY25, achieving annualised net revenue of ₹200 crore. It also reduced losses by 33% to ₹4.9 crore in FY24, while its operating revenue grew 2.3X to ₹15.46 crore.
BOLD is the corporate venture capital fund of L’Oréal, which invests in beauty brands worldwide through minority investments ranging from Seed to Series C across four areas: Beauty Brands, Beauty Platforms, Tech for Beauty, and Science for Beauty. In India, it has previously invested in hair beauty brand Arata as part of its $4 million Series A round last month.
DSG Consumer Partners is an early-stage fund that has backed over 80 brands and manages over $400 million in assets under management.
This comes at a when new-age digital direct-to-consumer (D2C) brands are seeing increasing traction from legacy FMCG and BPC players. Recently, Hindustan Unilever (HUL) announced the acquisition of a 90.5% stake in Jaipur-based direct-to-consumer (D2C) beauty brand Minimalist.
