WOW Skin Science, a direct-to-consumer skincare brand with GIC and ChrysCapital among its major backers, is allegedly in talks with both new and current backers to raise additional funds at a flat valuation.
According to a Mint report, the Bengaluru-based startup is seeking to raise between $65 million and $75 million in primary capital at a $400 million valuation. This is the same as its previous round, in which GIC invested $48 million in 2022.
The company has designated investment bank Investec to handle fundraising, and vendor due diligence is being handled by consulting firm KPMG. It’s early; in the coming months, the specifics of the fund raise will be determined,’ one of the sources was quoted as saying in the report.
WOW Skin Science was established in 2014 by Karan and Manish Chowdhary. The company claims that all of its products are made with natural ingredients and are devoid of artificial colouring, parabens, silicones, sulphates, and mineral oils. The product line includes products for skincare, haircare, bathing, fragrance, and nutrition.
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