KorinMi, a Gurugram-based Korean beauty and skincare startup, has secured ₹10 crore in funding from the innovation fund of Lotus Herbals, marking a significant milestone in its growth journey. The investment will support the company’s expansion plans as it scales its clinic network and strengthens its direct-to-consumer (D2C) beauty product business across India.
Lotus Herbals established its innovation fund with a corpus of $50 million to back promising early-stage beauty and wellness startups in the country. Through this investment, the company continues to expand its presence in emerging segments of the rapidly growing Indian beauty and personal care market.
Founded in 2024, KorinMi entered the market as a Korean beauty clinic specializing in advanced skin treatments. Since then, the startup has diversified its offerings by launching a range of D2C skincare products, thereby creating a comprehensive beauty and wellness ecosystem for consumers.
Korean beauty, widely known as K-beauty, encompasses skincare, makeup, and treatment solutions developed in South Korea. Unlike short-term cosmetic fixes, K-beauty focuses on long-term skin health, preventive care, and personalized treatment approaches.
Currently, KorinMi operates three clinics in Gurugram. Each facility employs at least two doctors and benefits from a network of dermatologists along with six to seven trained therapists, enabling the company to deliver specialized skincare and haircare services.
The startup plans to utilize the newly raised capital to expand its physical footprint and establish new clinics in major metropolitan markets, including Mumbai, Bengaluru, and Hyderabad. Through this expansion, KorinMi aims to strengthen its position in India’s fast-growing premium skincare and aesthetic treatment sector.
Speaking about the company’s growth strategy, Reshbha Munjal, cofounder and CEO of KorinMi said, “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.”
KorinMi follows a personalized treatment model that begins with a comprehensive 3D skin analysis. After the assessment, clients consult with medical professionals who design customized skincare and haircare solutions based on individual requirements.
The company’s cofounder and COO Jenovia Daun Jung, a South Korean national with extensive experience in the Korean beauty industry, oversees treatment protocols and consultation processes to ensure the authenticity of KorinMi’s K-beauty offerings.
In addition to clinic-based services, KorinMi has developed a portfolio of D2C skincare products manufactured in South Korea. The company claims it formulates these products specifically for Indian skin types and climatic conditions. Furthermore, the clinics utilize advanced Korean equipment and skincare technologies sourced directly from South Korea.
The latest funding round follows an earlier investment secured by the startup in May last year. At that time, KorinMi raised ₹3 crore from former Kaya Skin Clinic (UAE) CEO Vikas Agarwal and a group of angel investors, providing early momentum for the company’s expansion plans.
Commenting on the recent investment, Nitin Passi, managing director of Lotus Herbals, said, “With this investment we wanted to diversify into other beauty and skincare segments where we currently don’t operate.”
The investment marks the third deployment from the Lotus Innovation Fund since its launch in June 2024. According to Passi, the fund seeks not only to support innovative startups but also to help organize and professionalize India’s rapidly expanding beauty and wellness industry.
The Indian beauty startup ecosystem has witnessed increasing investor interest in recent years. Notably, Lotus Herbals’ innovation fund represents the second major strategic beauty-focused investment vehicle in India. Earlier, in 2022, Estee Lauder-backed New Incubation Ventures partnered with Nykaa to launch a dedicated investment platform focused on early-stage beauty and personal care startups.
As consumer demand for advanced skincare treatments, Korean beauty solutions, and personalized wellness experiences continues to grow, KorinMi is positioning itself as a prominent player in India’s premium beauty market. Backed by fresh funding, an expanding clinic network, Korean expertise, and a growing D2C portfolio, the startup appears well-equipped to capitalize on the rising popularity of K-beauty and accelerate its nationwide expansion.
