19th July 2024- Honestly, an AI-powered beauty and personal care platform has secured Rs 3.2 crore in its pre-seed funding round led by Better Capital. Kunal Shah’s QED Innovations and Flipkart, Polygon, and Cred executives also participated in the funding.
Founded by Karishma Rathaur, Honestly aims to transform the industry by enabling peer-to-peer connections to share product reviews. The funding will support the platform’s initial product launch and efforts to achieve early product-market fit.
The revenue model of Honestly will focus on B2B interactions, allowing brands to integrate their APIs and widgets into their product pages. This strategy aims to enhance user engagement and streamline the customer experience.
Looking forward Honestly plans to expand its user base to 1 million users in India in the next few years. This ambitious target highlights the platform’s commitment to becoming a leading digital hub for beauty enthusiasts seeking genuine product insights and community-driven recommendations.
Conclusion
The successful funding round positions Honestly for a strong launch and growth trajectory, supported by strategic partnerships and a robust revenue model tailored to the beauty industry’s evolving needs.
Source: Link
