Kimirica Raises $15M in Funding Round Led by Carnelian Asset Management

Kimirica, a personal care brand, has raised $15 million in a funding round led by Carnelian Asset Management. The funds will be used for brand building, expanding customer base, product development, and offline expansion. Kimirica plans to launch over 10 experiential stores across India and the Middle East and aims to grow its revenue from Rs 300 crore in FY25 to Rs 1,000 crore within the next three to four years.

Kimirica, a prominent luxury beauty and hospitality brand, has successfully raised $15 million in funding led by Carnelian Asset Management LLP. The investment, which follows a strategic partnership, aims to bolster Kimirica's growth in both the B2B and D2C segments of the beauty and personal care market [1].

The funds will be directed towards several key initiatives, including brand building, expanding the customer base, product development, and offline expansion. Kimirica plans to open over 10 experiential stores across India and the Middle East, further strengthening its retail footprint. Additionally, the company aims to grow its revenue from Rs 300 crore in FY25 to Rs 1,000 crore within the next three to four years [1].

Founded in 2013 by Mohit Jain, Rajat Jain, Kimi Jain, and Rica Jain, Kimirica began as a bootstrapped venture aiming to localize hotel toiletries production in an import-heavy market. Today, the company exports to over 70 countries and supplies to over 10,000 luxury hotels and airlines, including Marriott, Hilton, Hyatt, Accor, Leela, and Air India [1].

The strategic partnership with Carnelian Asset Management, led by capital markets veteran Vikas Khemani, will provide Kimirica with both financial strength and operational expertise. Vikas Khemani praised the company's exceptional business model and disciplined execution, stating that Kimirica is one of the most exciting companies today [1].

Mohit Jain, Co-founder of Kimirica, expressed excitement about the partnership, noting that it aligns with Kimirica's shared vision to bring its self-care experience to more consumers, faster than ever. The company is also investing in a 6 lakh sq. ft. integrated manufacturing facility in Indore, which will be one of the largest in South Asia in its category. The plant is designed to produce goods worth ₹1,500 crore–2,000 crore annually, focusing on exports to the United States, Middle East, and Europe [1].

The funding round signifies a significant milestone in Kimirica's journey, positioning the company for future growth and potential IPO. The strategic support from Carnelian Asset Management is expected to provide the necessary financial and operational resources to achieve Kimirica's ambitious revenue targets and expand its global presence [1].

References:
[1] https://yourstory.com/2025/08/luxury-beauty-brand-kimirica-raises-funding-carnelian-ventures-vikas-khemani
[2] https://startupstorymedia.com/carnelian-invests-15-mn-in-kimirica-to-drive-rs-1000-cr-revenue-target/