A four-month-old startup bagged Rs 50 lakh from Shark Tank India. This startup is CosIQ, the child of Kanika Talwar and Angad Talwar. CosIQ is a scientifically-backed skincare brand that uses molecular science to achieve great results.
The product was able to impress not one but 2 sharks (judges). Vineeta Singh of SUGAR Cosmetics and Anupam Mittal of Shaadi.com invested in the brand against 25% of the company.
CosIQ is one of its kind brand with its scientific-based and minimum ingredient used formula. Their 2 ingredient Vit-C serum is the first in the Indian market, giving it a clear age over the competition.
In 2020, the skincare market was valued at Rs 129.76 billion. With a CAGR of 8.22%, the sector will reach an estimated Rs 191.09 billion in 2025.
The show ‘Shark Tank India’ comes at a time when angel investing is pretty high in India. According to VCCircle in 2020, 804 angel and seed investments were made. This year, 1033 angel and seed investments worth $1.57 billion were made.