Skincare brand ClayCo has raised Rs 34.59 crore (around $3.7 million) in a Series A funding round led by Twenty-Nine Capital Partners Ventures, with participation from ICMG Global Ventures.
The Mumbai-based startup had earlier secured $2 million from Unilever Ventures in October 2024 as its first external investment.
The company will use the fresh capital to accelerate product development, expand into new categories, and strengthen working capital, it said in a press release.
Founded in 2023 by Niharika Jhunjhunwala, ClayCo focuses on skincare products that combine natural ingredients with modern formulations. Its debut range, "Rituals of Japan," includes cleansers, moisturizers, serums, and essences inspired by traditional ingredients such as rice, sake, and azuki beans.
The brand reported revenue growth from Rs 5 crore in FY24 to Rs 33 crore in FY25, reaching Rs 72 crore in FY26.
ClayCo sells through its D2C platform as well as marketplaces such as Nykaa, Amazon, and Tira, and also operates on quick commerce platforms. It plans to expand into body care and hair care categories.