&w=3840&q=100)
M3M family office invests $20 million in beauty tech platform Kult
Realty major M3M's family office has invested $20 million in technology-driven beauty discovery platform Kult, taking up a 55 per cent equity stake, amid a boom in the Indian beauty market.
Payal Kanodia and Aishwarya Bansal, part of the promoter family behind the M3M group, have joined the board of the start-up founded by Karishma Singh and Ruchika Pallavi.
'We have already invested $8 million as part of this round of $20 million,' Kanodia said in an interaction with Business Standard.
The investment marks a substantial move by the M3M family office, which is now evaluating options for investments into start-ups across categories.
India's beauty and personal care market is experiencing robust growth, projected to reach $30 billion by 2027, with the online segment constituting a substantial $10 billion. Mumbai-Thane-based Kult will compete with established players like Nykaa, Purplle, and MyGlamm to cater to the growing demand for customised skincare and beauty products as well as services.
Kult's Singh said that the app aims to carve a distinct niche through its innovative AI-powered personalised skincare recommendations and inclusive shopping experience. It leverages artificial intelligence to offer tailored skincare advice and provides unique visual catalogues displaying products on diverse Indian skin tones. 'We have a panel of dermatologists and cosmetologists who will be advising customers on which products will suit their skin needs and which ones will not, by going through a product's ingredients — which no other platform provides today,' Singh said.
The funding will be strategically deployed to fuel Kult's expansion plans of onboarding 700 premium products from around the globe, and aims to process over 10,000 orders daily by the end of 2025. The average ticket size is Rs 2,000.
The start-up also plans to onboard exclusive brands from the US, the UK, Korea, Japan and France to give its platform an edge over rivals like Nykaa and Tira. Kult will expand its team to over 200 employees across crucial departments, including sourcing, engineering, product development, and user experience.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
22 minutes ago
- Hans India
Renowned Businessman Sunjay Kapur Passes Away Peacefully
Sunjay Kapur death News: Industrialist Sunjay Kapur who was once married to Bollywood actress Karisma Kapoor Sunjay Kapur passes away from a heart attack in the United Kingdom on Thursday (June 112, 2025). Business consultant Suhel Seth revealed to ANI that during a match Kapur swallowed a bee by accident which might have led to the irritation. Sunjay Kapur industrialist obituary passing occurred during his marriage to Priya Sachdev who worked as an entrepreneur and previously modeled. 'Deeply saddened at the passing of @sunjaykapur: Seth reported Kapur's passing earlier today while in England and expressed his deepest condolences to his family and colleagues on his X handle. Sunjay Kapur passes away at 53 Sunjay and Karisma had a publicized wedding ceremony in 2003. Their relationship encountered difficulties which eventually resulted in their divorce by the year 2016. Together they have two children named Samaira their daughter and Kiaan their son. Sunjay held prominence in business industries as well as Bollywood sectors. His final social media post discussed the recent Air India plane crash in Ahmedabad that resulted in 241 fatalities. The tragic Air India crash in Ahmedabad brings terrible news. I keep all the affected families in my thoughts and prayers. He expressed his wishes for strength to families during this difficult time in correspondence hours before his death. As a visionary leader and compassionate individual, Sunjay's guidance led to Sona Comstar's success. Karisma Kapoor ex-husband dies had unique vision along with his core values and relentless commitment to excellence established a permanent legacy at the Company. Sona Comstar expresses sincere condolences to his family and friends along with everyone who was touched by his exceptional life through this statement. Sona Comstar developed into a worldwide leader under his guidance particularly within the electric vehicle market. He recently received his appointment as Chairman of the Confederation of International Industry's Northern Region. Indian business tycoon death managed operations throughout several regions which included Delhi, Punjab, Haryana, Rajasthan among other states. Business associates and close friends have both expressed tributes after his passing.
Time of India
25 minutes ago
- Time of India
Dubai school fees soar by up to Dh5,000: How are parents coping with the hike?
As Dubai school fees increase by up to Dh5,000, parents are adjusting by paying upfront for discounts or considering school transfers. A wave of school fee hikes has been announced across Dubai, leaving parents to either adapt to the higher costs or consider alternative schooling options. While some families are grappling with increases of up to Dh5,000 annually for each child, others are managing more modest hikes of a few hundred dirhams. Despite the widespread rise in fees, many parents are exploring ways to cope, from paying annual fees in lump sums to researching more affordable institutions. Fee Hikes: What's Driving the Increase? In May 2025, Dubai's Knowledge and Human Development Authority (KHDA) approved a 2.35% increase in the Education Cost Index (ECI) for private for-profit schools for the 2025-2026 academic year. This decision allows schools to adjust their fees based on individual school grades, as determined by the results of the Dubai School Inspection Bureau (DSIB) and the ECI. The change impacts families across Dubai, who have started receiving notifications about the fee increases. The adjustment is part of a broader effort to account for inflation, rising operational costs, and other financial pressures faced by schools. However, while some parents are facing steep increases, others are relieved by more manageable hikes. A Mixed Reaction from Parents Many parents are already feeling the financial strain of the fee hikes. For example, Manal, a Dubai resident with children attending an Indian syllabus school in Al Quoz, shared that her family's total fee increase will amount to Dh400 per year for both of her children. 'I am very glad that the increase is manageable and not a huge burden,' Manal said. 'We had budgeted for an increase this year so we were not caught off-guard,' Khaleej Times reported. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo In contrast, some families are facing much steeper hikes. Vivek, an Indian expat with two children enrolled in a premium school, revealed that his children's school fees currently range from Dh87,000 to Dh92,000 annually. The recent fee hike will cost him an additional Dh10,000 per year for both children. 'However, our school gives the option of paying the entire year's fees in one go,' Vivek said. 'This has given us a lump sum discount, so the total fee increase for me has come to about Dh3,000 per year for both children. ' Meanwhile, other parents like German expatriate Greta, whose three children attend a British syllabus school in Jumeirah, are feeling the squeeze. 'I got the email yesterday that my school fees have been hiked by Dh2,000 per child per annum,' Greta shared. 'That's a total increase of Dh6,000 per year in school fees alone. The books, uniforms, and other study material are not included in that.' Greta admits that she cannot consider switching schools because her eldest child will be entering Year 11 in the upcoming academic year. Instead, she and her husband are adjusting by cutting back on some extracurricular activities to offset the additional costs. The Growing Need for Affordable Options For some parents, the fee hikes have become too much to bear, prompting them to consider transferring their children to more affordable schools. Mohammed Iqbal, whose children attend a British syllabus school in Qusais, expressed relief as his school's increase was relatively modest, Dh1,200 annually. 'I was expecting a little more than that, so I am very happy,' he remarked. On the other hand, parent R.M., whose children attend another British syllabus school, has seen fee increases two years in a row. 'Last year, our school increased fees by 4.55%, and this year again, they announced a 2.35% hike,' R.M. explained. 'While I understand that the cost for businesses is going up, it puts a burden on parents because unfortunately, salaries don't increase at the same rate as the costs. I began researching schools as soon as I heard about the fee hike, but then soon realized that changing schools would bring with it a fresh set of challenges. So we decided to stay put at our current one.' Umm Mohammed, another Dubai parent, decided to move her daughter to a more affordable school before the fee hike was announced. 'We were paying over Dh55,000 in annual fees at our previous school,' she recalled. 'It was already the higher upper limit of what we could afford. So last year, we decided to move her to another school. Now we pay Dh30,000 inclusive of school fees, uniforms, and books. When the announcement of the school fees came, I was relieved. At our previous school, the fee increase would have been really difficult for us. But now, the fee increase is about Dh1,000 per annum. It is very manageable for us. I think it was the best decision to move her," she added. The Bigger Picture: Dubai's Expanding Private School Sector Dubai's private school sector has been booming, with a 12% increase in student enrollment recorded in the 2023-2024 academic year. As of the latest figures, Dubai has 227 private schools serving 387,441 students from 185 different nationalities. The rise in student numbers has likely contributed to the increased demand for private education and the subsequent fee hikes. Despite the challenges, many parents still find value in Dubai's private education system, with some schools offering flexible payment options to help mitigate the financial strain. The diverse offerings of schools, from international curricula to specialized programs, also give parents more choices, though finding an affordable option in the current climate can be challenging.
Time of India
26 minutes ago
- Time of India
Jeep Grand Cherokee Signature Edition launched: Prices, what's new
Jeep Grand Cherokee Signature Edition launched. Jeep India has launched a new limited-run variant of its flagship SUV, the Grand Cherokee. Dubbed the Signature Edition, the exclusively-packed model has been priced at Rs 69.04 lakh, ex-showroom, commanding a premium of Rs 1.54 lakh over the top-spec Limited (O) trim. It will be available in four colour options: White, Black, Grey, and Red. The model will go on sale across the company's dealership network in the country starting today. Here's a quick look at what's special. Jeep Grand Cherokee Signature Edition: What's new The Grand Cherokee Signature Edition brings in a few notable upgrades. While the design, dimensions and mechanical details remain the same, it now gets a new feature in the form of motorised side steps, making it easier to step in and out of the large SUV. Jeep Grand Cherokee: Brilliant blend of legacy, tech and value | TOI Auto It is on the inside that the model gains significant upgrades. The Signature Edition is equipped with a rear-seat entertainment setup that includes two 11.6-inch Android-based touchscreens, complete with built-in speakers, Wi-Fi, Bluetooth, and AUX support. Another highlight is that the cabin comes fitted with front and rear dash cameras.. Under the hood, the Signature Edition is powered by the same 2.0-litre turbo-petrol powerplant that delivers 268 bhp and 400 Nm of torque. The engine is mated to an 8-speed automatic transmission and is supported by Jeep's Quadra-Trac 4WD system. With its added tech and features, the Grand Cherokee Signature Edition competes with the likes of the Volvo XC90, Range Rover Velar, Mercedes-Benz GLE, Audi Q7, and more. Stay tuned to TOI Auto for latest updates on the automotive sector and do follow us on our social media handles on Facebook, Instagram and X. Discover everything about the automotive world at Times of India .
