Beauty tech startup Kult raises $20 million from M3M Family Office, other investors

Beauty tech startup Kult has raised $20 million (over Rs 170 crore) from investors, including M3M Family Office, to expand business as it aims to sell products worth Rs 700 crore this fiscal year through its mobile application based platform. In a press conference on Tuesday, Kult announced that it has raised $20 million in Series A funding, led by Payal Kanodia and Aishwarya Bansal from M3M Family Office. The round also saw participation by the major investment firm, Venture Catalysts.

Founded by Karishma Singh and Ruchika Pallavi, Gurugram-based Kult will now have both Kanodia and Bansal as board members. The company had earlier raised some amount from angel investors and HNIs.

“We will use the fund in technology and other operational expenses,” Singh told reporters.

The startup is targeting a Gross Merchandise Value (GMV) of Rs 650-700 crore this fiscal year, she said, adding that the margins is this business is upward of 35 per cent.

“We aim to reach 10,000 orders per day in the next one year,” Singh said.

Kult, a technology-led beauty platform that leverages AI to deliver personalised skincare recommendations, plans to onboard 700 handpicked premium products. Kanodia said, “Kult’s data-driven, customer-first, tech-led model signals the next evolution in the online beauty space — where deep personalisation and human insight converge to deliver instant, precise solutions.”

She did not mention the stake taken by M3M Family Office in Kult.

“Kult is uniquely positioned at the intersection of beauty and technology. What drew me in was the clarity of purpose — to create a platform that doesn’t just sell products, but helps consumers make informed, confident choices,” said Bansal.

Gurugram-based realty firm M3M Group is one of the leading real estate developers in north India.