Cureskin, an AI-driven dermatology platform that provides clinically validated skin & hair health solutions, has raised $20 million in its Series B round led by India’s healthcare-focused venture capital fund HealthQuad.
Existing investors such as JSW Ventures, Khosla Ventures and Sharrp Ventures participated in the round.
The latest investment brings Cureskin’s total funding to $26 million, per a release. The platform last raised $5 million in March 2022.
The funding “will help further enhance our AI capabilities, accelerate our growth and expand solution offerings,” said Cureskin CEO and co-founder Guna Kakulapati.
“We aim to provide optimal skin and hair health to millions of individuals across the country,” he added.
HealthQuad managing director Pinak Shrikhande noted, “Lack of qualified dermatologists in Tier 3+ towns and lack of product knowledge leads to ineffective self-treatments.”
Cureskin’s AI-enabled app uses photo-analysis to understand problem conditions and severity.
Lead investor HealthQuad has raised two funds, with an AUM of over $280 million. It focuses on nurturing innovative models that radically improve healthcare access and affordability by leveraging technology.
The VC, backed by the sponsors of Singapore-based healthcare-focused private equity (PE) firm Quadria Capital and impact investment firm KOIS, is currently understood to be on the road to raise its third fund with a targeted corpus of $300 million.
It closed its second fund at $162 million (Rs 1,215 crore) in 2022, which was said to be 2.2x its original target, while the maiden fund was closed at $11.6 million in 2017.
