Latest news with #PayalKanodia
Fashion Value Chain
28-05-2025
- Health
- Fashion Value Chain
Dr. Payal Kanodia Honoured with ‘Custodian of Humanity Award 2025' for Outstanding Contributions to Social Impact and Healthcare
In a remarkable recognition of her unwavering dedication to social transformation, Dr. Payal Kanodia, Chairperson & Trustee of M3M Foundation, has been awarded the Custodian of Humanity Award 2025 in the distinguished category of Social Activist & Healthcare Personality of the Year (Women). The award was conferred at a prestigious ceremony jointly organised by Medgate Today and GMAAF (Global Medical and Allied Awards Forum) at the Constitution Club of India, New Delhi. Dr. Payal Kanodia Honoured with 'Custodian of Humanity Award 2025' for Outstanding Contributions to Social Impact and Healthcare In her acceptance speech, Dr. Payal Kanodia shared 'I am deeply honoured to receive the Custodian of Humanity Award. This recognition is not just mine-it belongs to every woman, every child, and every underserved individual whose resilience fuels our mission at M3M Foundation. For me, healthcare is not a privilege-it is a fundamental right. As we continue to work toward a more inclusive and self-reliant India, I remain committed to fostering access, dignity, and empowerment for all. Awards like these are a reminder that empathy backed by action can indeed change the world.' The Custodian of Humanity & HPIE Awards 2025 celebrated over 50 trailblazers and institutions from across India for their exemplary contributions to healthcare innovation, medical excellence, and social impact. An esteemed jury panel, comprising notable figures from the healthcare and medical technology landscape, oversaw this year's selection process. Jurors included Afzal Kamal, Managing Director and Editor-in-Chief, Medgate Today; Rajiv Nath, Managing Director, HMD and Forum Coordinator, AIMED; Prof. Dr. Rajesh C. Shah; Jatin Mahajan, Managing Director, J Mitra & Co.; Dr. Y. P. Bhatia, CMD, Astron Group; and Brig. Dr. Anil Kohli, Padma Shri awardee and former President, Dental Council of India. Dr. Kanodia's award highlights her pioneering leadership in the areas of inclusive development, rural health equity, and women-centric social reform. Under her direction, M3M Foundation-CSR arm of the M3M Group-has significantly expanded its footprint across education, healthcare access, skill development, climate action, and women and child welfare, impacting over 4.8 million lives across 22 states and 3 union territories. M3M Foundation's healthcare vertical spans a broad spectrum-from mobile health clinics, preventive care camps, and iClinics in underserved communities to its flagship POSHAN initiative, which has served over 21 million nutritious meals to migrant families and labourers. The Foundation also runs awareness campaigns on menstrual health, maternal care, mental well-being, and chronic illness prevention-all led by a community-based, data-driven approach. This award reinforces Dr. Kanodia's reputation as one of India's leading women philanthropists, who seamlessly blends vision with execution. A Kettlebell World Champion, public speaker, and purpose-driven investor, she embodies the spirit of the new generation of change makers-graceful in leadership, grounded in service. The event concluded with a pledge from all awardees to continue their service toward building a healthier, more inclusive India.
Fashion Network
01-05-2025
- Business
- Fashion Network
Beauty tech platform Kult raises $20 million in funding round led by M3M Family Office
Beauty tech platform Kult has raised $20 million (Rs 170 crore) in its series A funding round led by Payal Kanodia and Aishwarya Bansal from the M3M Family Office. With this investment, Payal Kanodia and Aishwarya Bansal will be joining the brand's leadership team as board members. Kult plans to utilise the funds to accelerate its growth by onboarding 700 premium products from around the world. It also plans to scale its workforce by hiring more than 200 professionals across functions like sourcing, engineering, product development, and user experience. Commenting on the investment, Payal Kanodia in a statement 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. The strong traction from repeat users in this early stage validates the timing and necessity of launching such a sharply focused, super-niche platform.' Founded by Karishma Singh and Ruchika Pallavi, Kult is a beauty platform that uses technology and artificial intelligence to offer personalised skincare recommendations.
Time of India
29-04-2025
- Business
- Time of India
M3M backs Kult with $20 mn to expand beauty tech and brand portfolio
Beauty tech and discovery platform Kult has raised $20 million in a Series A funding round led Dr. Payal Kanodia and Aishwarya Bansal from the M3M family office. The round also saw participation by Venture Catalysts. The beauty app , which has a presence on both iOS and Android, will be using the funds to expand the product categories along with building a team of over 200 top-tier talent across multiple functions, such as sourcing, engineering, product, and user experience. "Dr. Payal Kanodia and Ms. Aishwarya Bansal, who have acquired 55 per cent stake in the brand, will be joining Ruchika Pallavi and me as board members. Out of the $20 million that we have raised, we will be using $8 million during phase one, i.e., the initial 12 months, and take the brand to the valuation of Rs 5,000 crore," Karishma Singh said. "The investment comes at a time when India's beauty and personal care (BPC) market is projected to grow at a CAGR of 10 per cent, reaching $30 billion by 2027. Within this, the online BPC segment is expected to account for $10 billion, representing approximately 33 per cent of the total market," she further added. Currently, the brand has a presence in categories like makeup, skin care, hair care, bath and body, and fragrance. "In the next 3-4 months, we will be foraying into 16 new categories. At present, we are working with 260 brands and plan to take this number to 800 by the end of this fiscal year," Singh asserted. "Out of these 800 brands, around 200 brands will be international brands," she further added. Currently, the beauty app has 20 exclusive brands listed on it, and 16 more are in the pipeline. '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 and Kanodia. "We plan to acquire the majority of the beauty market in the e-commerce segment. Currently, Kult is offering products only for women, and going ahead, we also plan to launch products for men," they further added. At present, the brand is processing 1,000 orders per month with an AOV of Rs 2,000 and plans to take it to 10,000 orders per month with an AOV towards the north of Rs 2,000 in the next 12 months. "In terms of GMV, we will be closing this fiscal at an ARR of Rs 700 crore," Singh said. The brand, which delivers to 5,000 pin codes in India, is eyeing EBITDA profitability next year when it reaches 12,000 to 13,000 orders per day When asked about foraying into the quick commerce space, Singh said, "Beauty as a category is very well placed in terms of unit economics for quick commerce. So, of course, we would be working on it in the future." Kult, a technology-led beauty platform that leverages AI to deliver personalized skincare recommendations and a seamless, inclusive shopping experience, was started by Karishma Singh and Ruchika Pallavi in 2022.
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Business Standard
29-04-2025
- Business
- Business Standard
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.
Fashion Value Chain
23-04-2025
- Business
- Fashion Value Chain
M3M Foundation Brings Together Sustainability Experts, Corporates and Policy Makers for Pioneering Climate Action at CASCA'25 in New Delhi
A host of Environmental Experts, Corporates, Diplomats, and Indian Members of Parliament will join CASCA (Climate Action & Sustainability Conference & Awards) on April 23- 24 in New Delhi. In its pursuit to support initiatives leading to effective action towards climate, environment and sustainability, M3M Foundation has proudly partnered with CASCA (Climate Action & Sustainability Conference & Awards) as the Lead Partner for its inaugural edition. The event scheduled for April 24-26, 2025 will feature thought-provoking panel discussions, keynote addresses, and interactive sessions, culminating in the Climate Action & Sustainability Awards, honouring organizations & individuals making outstanding contributions toward a more sustainable and resilient future. Dr. Payal Kanodia, Chairperson & Trustee, M3M Foundation plants saplings as part of her ongoing commitment to environment protection and sustainability The CASCA concept is an extension of ongoing initiatives focused on health, environmental sustainability, and socio-economic development by M3M Foundation. In a powerful collaboration, TheCSRUniverse-India's leading impact advocacy platform for social change and climate action-has joined hands with M3M Foundation, the philanthropic arm of M3M Group, to drive this mission forward. Together, their shared commitment to fostering sustainable communities aligns seamlessly with CASCA's core mission: to recognize, amplify, and celebrate transformative efforts that address the pressing environmental challenges of our time. This partnership reflects a unified vision to be at the forefront of building a greener, healthier, and more equitable future. Dr. Payal Kanodia, Chairperson & Trustee, M3M Foundation, said, 'At M3M Foundation, we believe that sustainability is not just a goal but a responsibility that requires collective action. Partnering with CASCA as the LEAD Partner aligns with our commitment to driving meaningful change in climate action, environmental conservation, and sustainable development. We are excited to collaborate with thought leaders and changemakers at CASCA 2025 to inspire solutions that can create a lasting impact for future generations.' The CASCA will bring together a diverse range of stakeholders, including policymakers, corporate leaders, environmental experts, academicians, and grassroots changemakers, to share innovative ideas, best practices, and transformative solutions. 'At CASCA, we aim to amplify conversations and catalyse impactful actions towards a more resilient and sustainable future. We are delighted to welcome M3M Foundation as the LEAD Partner for CASCA 2025. Their extensive work in sustainability and community development adds immense value to our platform,' said Ashish Jha, Founder, TheCSRUniverse. The awards at the thought leadership platform will be evaluated by power-packed jury. The distinguished CASCA jury includes Prof. (Dr.) Anil K. Gupta, CEO & PI at ICARS, IIT Roorkee, known for his pioneering work in climate resilience; Prof. Anish Sugathan, Chair of the Centre for Sustainability and Corporate Governance at IIM Ahmedabad, a leading authority on sustainable business practices; and Dr. Charru Malhotra, Professor at IIPA, specializing in e-Governance and ICT for sustainability. The panel also features visionaries like Prof. Chetan Singh Solanki, Founder of Energy Swaraj Foundation and Professor at IIT Bombay, championing solar energy advocacy; Dr. Indu K Murthy, Sector Head for Climate, Environment & Sustainability at CSTEP, known for her groundbreaking climate policy work; Mr. Jagdish Bakan, IFS, DFO Hosur, Tamil Nadu, with rich field experience in forest conservation; and Dr. Anita Gupta, Head of Scientific Division, Climate Energy & Sustainable Technology (CEST), Department of Science & Technology (DST), Govt. of India who spearheads national strategies in critical areas such as solar energy, hydrogen, energy storage, smart grids, and carbon capture with her leadership role in advancing Indias decarbonization goals and fostering climate resilience. Other distinguished members include Mr. Jibin Thomas, Co-ordinator at M.S. Swaminathan Research Foundation (MSSRF), driving agricultural sustainability; Dr. K K Upadhyay, Chairperson of Sustainability & CSR at BIMTECH, an expert in corporate sustainability; and Dr. Kalachand Sain, Advisor at DST CoE for Climate Information, IIT Delhi, a leader in climate data research. The panel further includes stalwarts like Dr. Madhavan Nair Rajeevan, Vice-Chancellor at Atria University and former Secretary, Ministry of Earth Sciences; Dr. Ram Sharma, Vice-Chancellor of UPES, with deep insights into sustainability education; Ms. Shabnam Bassi, Deputy CEO & Secretary of GRIHA Council, TERI, a sustainability ratings expert; Lt Gen Suresh Sharma, Former Engineer-in-Chief & Director General, Border Roads, Ministry of Defence, with extensive experience in sustainable infrastructure; and Dr. T.V. Ramachandra, Coordinator of the Energy and Wetlands Research Group at IISc, a distinguished voice in environmental research. About M3M Foundation M3M Foundation is the philanthropic arm of the M3M Group and is committed to bringing equitable development that ensures a life of dignity for every individual. The Foundation works on key areas such as education, healthcare, environment, disaster management, skill development, and community welfare. Programs like iMpower, Lakshya, Sarvoday, Saakshar, and Sankalp are empowering communities across India with sustainable, inclusive development models. About CASCA CASCA (Climate Action & Sustainability Conference and Awards) is a premier platform dedicated to recognizing outstanding contributions in the fields of climate action, environmental protection, and sustainable development. The event, organised by India's leading Impact Advocacy Platform TheCSRUniverse brings together thought leaders, innovators, and changemakers to share knowledge, best practices, and strategies for a sustainable future. More details: CASCA'25
