D2C skincare brand Deconstruct has raised INR 65 Cr (about $7.5 Mn) from French cosmetics giant L’Oréal’s venture capital (VC) fund BOLD, V3 Ventures, and DSG Consumer Partners.
The funding round also saw participation from existing investors Kalaari Capital and BEENEXT.
Deconstruct will use the fresh capital to fuel product innovation, venture into new categories and bolster its existing portfolio of offerings. A chunk of the fresh proceeds will also be utilised to enhance its distribution network by expanding its presence on quick commerce platforms and the retail channel.
Founded in 2020 by Malini Adapureddy, Deconstruct is a D2C brand that claims to sell evidence-based skincare products that are gentle and non-irritating. The startup sells serums, facewashes, shampoos, sunscreens, among others.
Commenting on the fundraise, founder and CEO Adapureddy said, “This milestone is a proud moment for us and reflects the trust our consumers and investors have placed in our vision… This funding empowers us to singularly focus on building highly effective yet gentle products.”
The Bengaluru-based startup last raised $2 Mn in a funding round led by Kalaari Capital’s flagship program CXXO and BEENEXT in 2022. Including the latest fundraise, it has raised about $10 Mn to date.
Deconstruct also featured on the 2023 edition of Inc42’s FAST42, which lists the biggest emerging D2C brands in the country.
The D2C brand claims to have “helped” more than 2 Cr customers start their skincare journey in the past year. Deconstruct also claimed that it has clocked a 1,000% growth in the financial year 2024-25 (FY25) so far and has achieved an annualised net revenue of INR 200 Cr this fiscal so far.
The fundraise comes at a time when the rising penetration of the internet and smartphones has spurred India’s burgeoning digital economy. With more than 500 Mn online shoppers, the country has witnessed the rise of ecommerce giants as well as big-ticket D2C brands in the past decade.
The overall Indian ecommerce sector is expected to become a $400 Bn market opportunity by 2030. Within this, D2C continues to make a mark for itself, and investors are bullish on the sector. For context, homegrown D2C brands raised $595 Mn across 115 deals in 2024.
Just days ago, Mumbai-based D2C skincare brand Foxtale bagged $30 Mn in its Series C round led by KOSÉ Corporation. Earlier this month, D2C dinnerware brand BlackCarrot also bagged an undisclosed amount in its seed funding round led by We Founder Circle.
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