Retail and Consumer Internet
VedaCorp advised Cureskin, an AI-driven dermatology platform on USD 20 Mn Series B fund raise from Healthquad and existing investors
About
Cureskin
Founded in 2017, Cureskin is an artificial intelligence-driven platform for the detection and care of skin conditions. The Cureskin app uses photo-analysis AI to analyse more than 10M skin pixels and derive more than 2,000 facial attributes to understand problem conditions and severity. The technology was developed using a database of 50 million+ images, to detect skin conditions and assist dermatologists in treatment design.
HealthQuad
HealthQuad is India’s leading digital health-focused venture capital fund, with assets under management of more than USD 280 Mn across two funds. Its focus is to nurture innovative models which radically improve healthcare access and affordability by leveraging technology.
Background
We are pleased to announce that our client, Cureskin, an AI-driven dermatology platform that provides clinically validated skin & hair health solutions, has raised Series-B funding of USD 20 million, led by digital health focused VC Healthquad along with participation from existing investors JSW Ventures, Khosla Ventures and Sharrp Ventures. The funds will help the company to further enhance its AI capabilities, accelerate the growth and expand the solution offerings.
Veda Corporate Advisors (“VedaCorp”) acted as Exclusive Advisors to the Company. VedaCorp provided comprehensive transaction advisory services covering strategic positioning, relevant investor identification and negotiation of key commercial terms leading to a successful transaction closure.
VedaCorp was very instrumental in making this transaction happen. They helped us navigate the entire fund-raise process in a very timely and professionally managed way. They were able to deeply understand our unique business model and combine it with their breadth of knowledge in this sector to connect us with the partners who understand our vision and align with our thinking. They have collaborated with us along the entire process right from scoping the deal till the closure. We had a great experience working with Abi and Nikhil, and are thankful for their collaboration towards completing this transaction.
Guna Kakulapati and Ramakrishna R
Founders - Cureskin
Run by a very talented promoter group, Cureskin is a unique and differentiated asset – combining a fine balance between AI based technology, clinically backed dermatology care and direct to consumer reach. The Series B funding will help the Company to further penetrate Tier 2/ 3 markets, deepen AI development and expand omni channel distribution.
Abinandan TS
Managing Director - Veda Corporate Advisors