Unilever Ventures, the venture capital and private-equity arm of FMCG major Unilever, has taken stakes in Indian indie beauty brands Secret Alchemist and Skin Inspired.
Clean fragrance brand Secret Alchemist raised $3-mn in a seed funding round led by Unilever Ventures, along with DSG Consumer Partners. The funding will be used to expand the brand’s portfolio and R&D capabilities. In a statement, Secret Alchemist said it will invest in scaling its presence and distribution as it continues to operate as an India-first label with ambitions worldwide.
“Clean has already become a norm in beauty globally, and we are beginning to see fragrance follow the same trajectory. Secret Alchemist is well-positioned to lead this emerging category in India,” said Mr. Pawan Chaturvedi, a partner and head of Asia at Unilever Ventures, in a separate statement.
Secret Alchemist was founded by Ankita Thadani, Akash Valia and Samantha Ruth Prabhu in 2022. It is based on aromatherapy and essential oils, beginning with ailment-led wellness solutions. Now it is primarily a fragrance brand, blending aromatherapy with modern perfumery.
“Globally, ‘clean’ has become a baseline in beauty and personal care, and fragrance is naturally moving in that direction,” said Ms. Thadani. “With Secret Alchemist, our focus is on building perfumes that are ingredient-led, well-formulated and uncompromising on quality. We are among the first in India to openly publish full ingredient and allergen disclosures in perfumery, because for us, clean means being honest,” she added.
In a separate deal, Unilever Ventures also recently invested in the luxury Indian skin care brand Skin Inspired alongside Lotus Herbals Pvt. Ltd., through its beauty and personal care investment arm, Lotus Innovation Fund, and Spring Marketing Capital, which also led the round, among other investors. The Series A round was reported to be equivalent to $2.9-mn.
Early last year Unilever’s India unit, Hindustan Unilever Ltd., said it was acquiring Minimalist, a premium beauty brand born in the country. It’s part of a broader company strategy.
During a call with financial analysts and journalists about third-quarter 2025 results in October last year, Mr. Fernando Fernandez, Unilever’s CEO, had reiterated the group’s plans to focus on beauty and wellness, with an emphasis on two major markets. “We are shaping a brand portfolio that’s built for the future with more beauty, well-being and personal care, prioritizing our growth in the US and India,” he said.