KorinMi bags USD 1.1M funding to scale its clinic network
The investment was part of an effort to diversify into beauty and skincare segments where the company currently does not operate.
INDIA – Gurugram-based Korean beauty and skincare startup KorinMi has raised ₹10 crore (USD 1.1 million) from the innovation fund of Lotus Herbals, a capital infusion the company says will fuel clinic expansion and strengthen its direct-to-consumer (D2C) beauty product business across India.
Lotus Herbals set up the innovation fund with a USD 50 million corpus to back promising early-stage beauty and wellness startups, and this transaction continues the fund’s drive to extend the company’s reach into emerging segments of India’s fast-growing beauty and personal care market.
Founded in 2024, KorinMi launched as a Korean-style beauty clinic offering advanced skin treatments.
Since then, it has diversified into a D2C skincare range, aiming to create an integrated beauty and wellness ecosystem for consumers.
K‑beauty covers skincare, makeup and treatment solutions developed in South Korea and emphasizes long-term skin health, preventive care and personalized treatment strategies rather than temporary cosmetic fixes.
KorinMi currently operates three clinics in Gurugram. Each facility employs at least two doctors, benefits from a network of dermatologists and staffs six to seven trained therapists, enabling the startup to deliver specialized skincare and haircare services.
The company uses a personalised treatment model that starts with a detailed 3D skin analysis, followed by consultations with medical professionals who design custom skincare and haircare plans tailored to individual needs.
The newly raised funds will be used to expand the startup’s physical footprint, with plans to open clinics in major metros including Mumbai, Bengaluru and Hyderabad, as KorinMi seeks to solidify its standing in India’s burgeoning premium skincare and aesthetic treatments segment.
Cofounder and CEO Reshbha Munjal stated, “We focus on both face and hair treatment. We launched our first clinic in Gurugram in October 2024, and so far we have over 3,000 clients.”
“The treatment frequency is typically 30-45 days, and to help our customers’ skincare journey, we have launched a product range.”
Cofounder and COO Jenovia Daun Jung, a South Korean national with substantial experience in the Korean beauty industry, oversees treatment protocols and consultations to ensure the authenticity of KorinMi’s K‑beauty services.
Beyond clinic-based care, KorinMi markets a portfolio of D2C skincare products manufactured in South Korea; the company says these formulations are specifically developed for Indian skin types and climatic conditions.
Clinics also employ advanced Korean equipment and skincare technologies sourced directly from South Korea.
This ₹10 crore (USD 1.05 million) round follows an earlier ₹3 crore (USD 313,600) raise in May last year from former Kaya Skin Clinic (UAE) CEO Vikas Agarwal and a group of angel investors, which helped kick-start KorinMi’s expansion plans.
The KorinMi investment is the third deployment from the Lotus Innovation Fund since its June 2024 launch; Passi noted the fund aims to support innovative startups and to help organise and professionalise India’s rapidly expanding beauty and wellness industry.
Investor interest in India’s beauty startup scene has grown in recent years.
The Lotus Herbals fund represents another major strategic, beauty-focused investment vehicle in the market; in 2022, Estée Lauder-backed New Incubation Ventures teamed up with Nykaa to launch a dedicated investment platform for early-stage beauty and personal care startups.
As demand for advanced skincare treatments, Korean beauty solutions and personalised wellness experiences rises, KorinMi is positioning itself as an emerging player in India’s premium beauty market.
Backed by fresh capital, an expanding clinic network, Korean expertise and a broadening D2C portfolio, the startup aims to capitalise on K‑beauty’s increasing popularity and accelerate its nationwide growth.
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