Nairobi — Uncover, a Kenyan-founded skincare firm, has secured Sh180.9 million ($1.4 million) from international investors to expand its business portfolio.

The Seed 2 funding was led by EQ2 and IgniteXL Ventures, with participation from Chui Ventures, Samata Capital, and Altree Capital.

Uncover is expected to use the fund to build a tech platform, launch new products, and expand to new markets such as the Democratic Republic of the Congo (DRC).

"We've been following Uncover since the early days, and I must say we kept on being impressed by Sneha and Jade," Patrick Thiriet from EQ2 Ventures said.

"As investors in several consumertech businesses over the last 8 years, we've rarely seen such a combination of clarity in the vision and maturity in the execution," he added.

"We believe Uncover's team has what's required to build a leading skincare & beauty brand for Africa and are looking forward to helping them in this journey."

According to McKinsey's 2023 global beauty report, the African beauty market is the fastest-growing market globally, growing two-times the world's average.

In the next 15 years, the continent will be home to the biggest youth population, creating an array of market opportunities for local and international beauty brands.

Growing competition in the space has created the need for players to embrace digital solutions to drive sales and attract underserved as well as unserved communities.

Since it leveraged technology, Uncover now boosts a community of over 200,000 women in Kenya, Nigeria, and the diaspora on its digital platform.

"This funding will empower us to unlock our next stage of growth, expand our product portfolio, enhance our technology, and reach even more consumers seeking personalized skincare solutions," Jade Oyateru, Co-Founder and COO of Uncover, added.