When two IITians, Mohit Yadav and Rahul Yadav, founded Minimalist in 2020, their goal was simple yet bold: to bring transparent, science-backed, and affordable skincare to Indian consumers who were tired of marketing fluff. Today, Minimalist has grown into one of India’s most successful D2C beauty startups, valued at $500 million, with its eyes set on global dominance.

The Beginning: Stripping Skincare to its Core

Minimalist was born during the pandemic in 2020 when the Indian beauty industry was booming but cluttered with jargon and luxury pricing. Inspired by global brands like The Ordinary, the founders wanted to create a label that focused on ingredient transparency.

Their tagline “#TruthAboutSkinCare” became a rallying cry for millennials and Gen Z, who were increasingly skeptical of traditional beauty brands. Instead of flashy packaging, Minimalist emphasized science-driven formulations and educational content to build trust.

Early Traction: The Direct-to-Consumer Push

Within its first year, Minimalist saw rapid adoption through D2C channels and e-commerce platforms like Nykaa, Amazon, and Flipkart.

By FY22, it had already crossed ?100 crore in annual revenue.

Its strong online presence and community-driven marketing gave it an edge over established giants like L’Oréal and P&G in the premium skincare segment.

Funding Rounds & Valuation Growth

Seed & Early Growth (2021)

Minimalist raised its first funding round from Sequoia Capital India (now Peak XV Partners).

Funding helped in scaling production and expanding the product portfolio beyond serums to moisturizers, sunscreens, and cleansers.

Series A (2022)

Raised $15 million led by Sequoia Capital India.

Valuation crossed $100 million.

Funds were allocated to R&D, building a strong offline retail network, and marketing campaigns.

Series B (2023)

Minimalist raised $60 million from Peak XV Partners and others.

Valuation jumped to $300 million.

The brand expanded globally, entering markets in the Middle East, Southeast Asia, and parts of Europe.

Series C (2024)

In its latest round, Minimalist raised $100 million at a valuation of $500 million.

The round was led by Peak XV Partners with participation from Unilever Ventures, showing confidence from strategic investors.

Revenue & Market Position

Minimalist is on track to hit ?1,000 crore ($120M) annual revenue by FY25.

Holds a dominant share in India’s premium skincare segment.

Competes directly with brands like Plum, mCaffeine, and Mamaearth, but stands apart with its clinical, no-nonsense positioning.

Exit & Strategic Moves

While the company hasn’t sold yet, industry insiders believe Minimalist could be a strong IPO candidate by 2026 or attract an acquisition from a global FMCG giant like Unilever, L’Oréal, or Estée Lauder.

The Minimalist Mindset

Minimalist’s success lies in staying true to its core philosophy:

Ingredient Transparency – Every label highlights key actives and concentrations.

Science-first Approach – Backed by dermatological research.

Affordable Premium – High-quality skincare accessible to middle-class consumers.

Community Trust – Building loyal customers who advocate the brand organically.

The Road Ahead

With $500M valuation, strong global ambitions, and a rapidly growing customer base, Minimalist is more than just a skincare brand — it’s shaping up to be India’s answer to The Ordinary on the world stage.If all goes as planned, Minimalist could well become a unicorn by 2026, and possibly India’s first global skincare powerhouse.