Nairobi-based skincare startup Uncover has raised US$1 million in seed capital, which it will use to scale up its operations in Kenya and establish a presence across Africa.
Uncover, co-founded by Sneha Mehta, Jade Oyateru and Catherine Lee, was born out of global VC accelerator Antler, and is a data-driven, digital-first women’s brand made specifically to address women’s health and wellness in Africa.
The US$1 million seed round featured investors including FirstCheck Africa, Samata Capital, Future Africa and IgniteXL, as well as a number of angel investors. Uncover said plans were underway to expand into the Nigerian market in January 2023.
“We are so proud of this important milestone in our journey and couldn’t be more excited to have our new investors as partners. The funds will be used to fund the launching of more products, going into additional markets and also improving on our tech and data to effectively produce, reach and market to our audience,” Uncover co-founder and CEO Sneha Mehta said.
She said since launch the startup’s revenue had grown many-fold, buoyed by the growing demand for its products, recording 20x growth in monthly revenue and garnered a loyal and highly engaged community of almost 60,000 women.
“The rapid traction we’ve seen in 24 months since launch is testament to the need for healthy, safe and affordable women’s health products specifically made for women of color combined with digitally enabled customer education and product discovery tools,” Mehta said.
FirstCheck Africa co-founder and general partner Eloho Omame said she was thrilled to have been one of Uncover’s earliest backers.
“Since we invested, the company’s growth has been incredible, and the team is already working on its third country entry,” she said.
“Sneha, Jade and Catherine are an impressive trio of ambitious female entrepreneurs building a differentiated, first-of-its-kind company in Africa. Uncover’s products are an innovative blend of Korean skincare technology and African ingredients, and the founders are leveraging data and community to build a category leader with global potential.”