Kenya’s Uncover, a tech-enabled emerging beauty brand, has closed a US$1.4 million seed II funding round to further build its tech platform, launch new products, and expand to new markets.
Founded in 2021, Uncover is a data-driven women’s skincare brand that creates highly effective, science-backed products that are tested and approved by melanated women.
The startup has built a tech platform that supports product discovery, relatable educational information and community engagement. It has thousands of data points on women to help drive personalisation for its community’s unique skincare needs.
Uncover has built a digital community of more than 200,000 women across Kenya, Nigeria, and the diaspora, and has grown its revenue 10x in the last 24 months. It has just expanded into Uganda and Ghana, and is now set for further growth after securing US$1.4 million in an oversubscribed seed II funding round.
The round was co-led by EQ2 Ventures and IgniteXL Ventures, with participation from Chui Ventures, Samata Capital and Altree Capital. As part of the round, Uncover also facilitated a significant secondary transaction to accommodate investor demand.
Uncover will use the funding to further develop its platform, launch new products, expand to more new markets, and continue to leverage data to build the leading skincare brand made with melanin-rich skin in mind. The company has seen demand for their products not only from Africa, but also from diaspora populations globally, and is actively working on partnerships in key diaspora markets in North America.
“Uncover is much more than a skincare brand. We are a movement to prioritise women of colour who have been sidelined by the beauty industry for generations. The industry has represented only a few skin tones in testing and we are one of the first brands testing on women in Africa. Our data-driven products combined with a tech platform focused personalization have fueled the company’s growth. What’s exciting is that we are starting in Africa but seeing global demand and opportunity for our solution,” said Sneha Mehta, co-Founder and CEO of Uncover.
Jade Oyateru, the startup’s co-founder and COO, said she was “delighted” to partner with a “remarkable” group of investors who share Uncover’s vision for the future of women’s skincare and wellness, both on the continent and beyond.
“They bring a wealth of experience in this industry. 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 personalised skincare solutions,” she said.
Patrick Thiriet from EQ2 Ventures said his firm had been following Uncover since the early days, and was impressed by the co-founders.
“As investors in several consumer-tech businesses over the last eight years, we’ve rarely seen such a combination of clarity in the vision and maturity in the execution. We believe Uncover’s team has what’s required to build a leading skincare and beauty brand for Africa and are looking forward to helping them in this journey,” he said.
