{"id":9691,"date":"2022-12-19T15:57:53","date_gmt":"2022-12-19T15:57:53","guid":{"rendered":"https:\/\/expressnewsghana.com\/?p=9691"},"modified":"2022-12-19T15:57:53","modified_gmt":"2022-12-19T15:57:53","slug":"kenyas-skincare-firm-uncover-raises-usd1m-eyes-nigerian-market","status":"publish","type":"post","link":"https:\/\/expressnewsghana.com\/?p=9691","title":{"rendered":"Kenya\u2019s skincare firm, Uncover raises USD1M, eyes Nigerian market"},"content":{"rendered":"<p><strong>Nairobi-based skincare firm, Uncover has raised USD 1 million in seed capital, which it will use to\u00a0scale up its operations in Kenya\u00a0and establish presence across Africa, the company has disclosed.<\/strong><\/p>\n<p>Key investors include FirstCheck Africa, Samata Capital, Future Africa, IgniteXL, and a number of angel investors.<\/p>\n<p>Commenting on the funding, FirstCheck Africa Co-Founder &amp; General Partner, Eloho Omame said: \u201cSince we invested, the company\u2019s growth has been incredible, and the team is already working on its third country entry. FirstCheck Africa is thrilled to have been one of Uncover\u2019s earliest backers.\u201d<\/p>\n<p>The Company said plans were underway to expand into the Nigerian market in January 2023. Nigeria, one of the major beauty and personal-brand markets in the continent, values at N1tr, according to a report by Euromonitor.<\/p>\n<p>\u201cWe are so proud of this important\u00a0milestone in our journey and couldn&#8217;t be more excited to have our new investors as partners. The funds will be\u00a0used to fund the launching of more products, going into additional markets and also improving on our tech and data to effectively produce, reach and market to our audience,\u201d Uncover co-founder and Chief Executive Officer Sneha Mehta said.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-medium wp-image-9692\" src=\"https:\/\/expressnewsghana.com\/wp-content\/uploads\/2022\/12\/Catherine-Lee-JadeOyateruand-Sneha-Mehta-300x184.jpg\" alt=\"\" width=\"300\" height=\"184\" srcset=\"https:\/\/expressnewsghana.com\/wp-content\/uploads\/2022\/12\/Catherine-Lee-JadeOyateruand-Sneha-Mehta-300x184.jpg 300w, https:\/\/expressnewsghana.com\/wp-content\/uploads\/2022\/12\/Catherine-Lee-JadeOyateruand-Sneha-Mehta-600x367.jpg 600w, https:\/\/expressnewsghana.com\/wp-content\/uploads\/2022\/12\/Catherine-Lee-JadeOyateruand-Sneha-Mehta-1024x627.jpg 1024w, https:\/\/expressnewsghana.com\/wp-content\/uploads\/2022\/12\/Catherine-Lee-JadeOyateruand-Sneha-Mehta-768x470.jpg 768w, https:\/\/expressnewsghana.com\/wp-content\/uploads\/2022\/12\/Catherine-Lee-JadeOyateruand-Sneha-Mehta.jpg 1390w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/p>\n<p>Uncover Co-Founder and Chief Operations Officer Jade Oyateru said the goal of the Company Is to ensure women across Africa have access to safe, effective, and affordable skincare that&#8217;s specifically\u00a0made to target their skin concerns.<\/p>\n<p>\u201cWe are making African women a priority and not an afterthought. I am excited that this investment will aid our expansion plans to markets on the continent,&#8221; Ms. Oyateru said.<\/p>\n<p>Ms. Mehta said since launch the startup\u2019s revenue had grown many-fold, buoyed by the growing demand for its products, recording\u00a020x growth in monthly revenue and garnered a loyal and highly engaged community of almost 60K women.<\/p>\n<p>\u201cThe rapid traction we&#8217;ve seen in 24 months since launch\u00a0is testament to the need for healthy, safe and affordable women&#8217;s health products specifically made for women of color combined with digitally enabled customer education and product discovery tools,\u201d Ms. Mehta said.<\/p>\n<p>Uncover, born out of a global VC accelerator (Antler) is a data-driven, digital-first women&#8217;s brand made specifically to address women&#8217;s health and wellness in Africa &#8211; the world&#8217;s fastest-growing but most underserved beauty personal care market.<\/p>\n<p><strong>Best technology<\/strong><\/p>\n<p>Uncover uses African botanicals and outsources its manufacturing to the\u00a0Republic of Korea\u00a0(South Korea) &#8211; one of the world\u2019s biggest beauty markets, where it is leveraging on the country\u2019s top-notch technology, labs and scientists to create stability testing, safe ingredients and formulations for its products.<\/p>\n<p>\u201cBy doing so, we have ensured that our products are healthy, safe,\u00a0nourishing, affordable and effective\u00a0and specifically made for women in Africa,\u201d\u00a0Ms. Oyateru said.<\/p>\n<p>Uncover was co-founded by Mehta and Jade Oyateru (Chief Operations Officer), and Catherine Lee (advisor), who were inspired to build a data-driven, digital-first health and wellness brand for the African woman by leveraging their experience and expertise.<\/p>\n<p>Mehta has over 10 years\u2019 experience helping businesses scale across Africa, while Oyateru is a nutritionist and consumer goods expert. Lee is an economist turned filmmaker.<\/p>\n<p>\u201cSneha, Jade and Catherine are an impressive trio of ambitious female entrepreneurs building a differentiated, first-of-its-kind company in Africa. Uncover\u2019s products are an innovative blend of Korean skincare technology and African ingredients, and the founders are leveraging data and community to build a category leader with global potential,\u201d Ms. Omame concluded.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Source : <strong>Mike Omuodo<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nairobi-based skincare firm, Uncover has raised USD 1 million in seed capital, which it will use to\u00a0scale up its operations in Kenya\u00a0and establish presence across [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9692,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,1],"tags":[2386],"class_list":["post-9691","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-africa-news","category-world-news","tag-kenya-skin-care"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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