In a big move that shows the growing investor interest in India’s beauty tech space, Kult, a Gurugram based AI powered skincare and beauty discovery platform has raised USD 20 million (~INR 170 crore) in a Series A round led by M3M Family Office with participation from Venture Catalysts. This is one of the largest Series A round of 2025 and Kult is now a big player in the beauty tech space.
The investment, spearheaded by Dr. Payal Kanodia and Aishwarya Bansal, members of the promoter family behind real estate major M3M Group, also brings them onto Kult’s board, signaling a deeper strategic alignment beyond capital.
Vision Meets Venture: A Beauty-Tech Bet
Founded by Karishma Singh and Ruchika Pallavi, Kult has carved out a niche in India’s booming beauty and personal care (BPC) market through a data-driven, AI-first platform that delivers personalised skincare recommendations. The platform combines artificial intelligence with insights from over 300 global beauty experts, and uniquely displays products on diverse Indian skin tones, enhancing discovery and inclusivity in beauty consumption.
“This is not just about selling beauty products—it’s about transforming the discovery process. We’re building a platform where technology and human insight converge to guide consumers through an overwhelming product landscape,” said Singh during a press interaction.
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Strategic Growth Plans and Ambitious Targets
The funds will be strategically deployed to onboard 700 premium global beauty products, scale to 10,000 daily orders by end of 2025, and grow its team by over 200 professionals across key verticals like sourcing, engineering, product development, and user experience.
Kult is also targeting a Gross Merchandise Value (GMV) of INR 650 – 700 crore for the current fiscal year, while maintaining margins upwards of 35%—figures that are rare for such an early-stage player.
The company is already in advanced talks with exclusive beauty brands from the US, UK, France, Korea, and Japan, a move intended to differentiate it from incumbents like Nykaa, Good Glamm Group, and Smytten.
Stake and Strategic Intent
In a notable development, it was revealed that the M3M Family Office has acquired a 55% equity stake in Kult, with USD 8 million (~INR 68 crore) of the total USD 20 million (~INR 170 crore) already disbursed, according to Dr. Kanodia. The family office, traditionally focused on real estate, has begun diversifying into startup investments and views beauty tech as a “sunrise sector.”
“We saw not just a business opportunity, but a purposeful platform. Kult’s hyper-personalised, tech-led model reflects where the market is headed,” said Bansal. “It helps consumers make more informed, confident choices—not just impulse purchases.”
Dr. Kanodia added that the family office aims to help Kult reach a valuation of INR 5,000 crore within the next 12 months, hinting at further funding rounds down the line.
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The Bigger Picture
Kult’s funding comes amid a 10% CAGR growth trajectory in India’s BPC market, expected to touch USD 30 billion (~INR 2.54 lakh crore) by 2027, with online channels alone accounting for USD 10 billion (~INR 84,753 crore) – about 33% of the total market. This signals a strong digital shift and creates fertile ground for platforms like Kult that blend commerce with curation.
Other big Series A rounds this year are Atomicwork (USD 25 million (~INR 212 crore) and Lucidity (USD 21 million (~INR 178 crore) , showing the growing investor confidence in consumer tech platforms.
While biggies like L’Oréal, Nykaa, Mamaearth and Nivea are still dominant, the success of Kult shows a shift towards niche, tech first brands for the increasingly savvy and diverse Indian consumer.
Conclusion
As beauty tech in India grows up, Kult’s journey from an AI powered idea to a multi-crore funded company is the intersection of consumer tech, personalized commerce and investor conviction. With an ambitious roadmap, strategic capital, and a differentiated product experience, Kult is not just riding the beauty wave—it’s helping shape its next crest.