Social media influencers don entrepreneurial hat; launch VC-backed consumer brands
The rise of social media influencers has given birth to a new wave of consumer brands, garnering tremendous venture capital interest.
Bengaluru: Social media influencers from beauty, fashion, food, and supplements industries are creating consumer brands and attracting venture capital funding, mirroring the celebrity-backed business boom. Himi Khandelwal, a beauty content creator, raised Rs 8 crore for her skincare brand Pruf with backing from DSG Consumer, All In Capital, and notable investors such as Reckitt's Arjun Purkayastha, Snapdeal founders Kunal Bahl and Rohit Bansal, Shaadi.com's Anupam Mittal, and Deconstruct's Malini Adapureddy.
Chef Sanjyot Keer, with a YouTube following of 7 million, secured Rs 40 crore for his home appliance brand Curaa led by 3one4 Capital. Influencer Kusha Kapila's shapewear brand Underneat raised almost $7 million, while vlogger Gaurav Taneja's supplement brand Beastlife is seeking Rs 80 crore. Investors believe these creators have a strong marketing platform due to their large follower bases.
For example, Underneat's success hinges on educating consumers about the category, while Curaa's R&D benefits from Keer's professional kitchen experience. The trend extends beyond social media, with Bollywood stars like Shraddha Kapoor and Kriti Sanon investing in consumer brands.
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