Uncover, a Kenyan-founded skincare company has secured Kes 180.9 million from international investors to expand its business portfolio.
EQ2 and IgniteXL Ventures led the Seed 2 funding, which was participated in by Chui Ventures, Samata Capital, and Altree Capital.
Uncover is expected to use the fund to build a tech platform, launch new products, and expand to new markets such as the Democratic Republic of the Congo (DRC).
“We’ve been following Uncover since the early days, and I must say we kept on being impressed by Sneha and Jade,” Patrick Thiriet from EQ2 Ventures said.
“We believe Uncover’s team has what’s required to build a leading skincare & beauty brand for Africa and are looking forward to helping them in this journey.”
Did you read this?
According to McKinsey’s 2023 global beauty report, the African beauty market is the fastest-growing globally, growing twice the world’s average.
Jade Oyateru, Co-Founder and COO of Uncover, revealed that since the company leveraged technology, it has boosted a community of over 200,000 women in Kenya, Nigeria, and the diaspora on its digital platform.
“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 personalized skincare solutions.”
