Beauty tech company Kult has secured $20 million (more than Rs 170 crore) from investors such as M3M Family Office to grow its business, targeting sales of Rs 700 crore this fiscal year via its mobile app-based platform.

Kult says that it has raised $20 million in Series A funding, spearheaded by Payal Kanodia and Aishwarya Bansal from M3M Family Office.

The round also included involvement from the prominent investment firm, Venture Catalysts.

Established by Karishma Singh and Ruchika Pallavi, Kult, located in Gurugram, will now include both Kanodia and Bansal as members of its board. The firm had previously secured funding from angel investors and high-net-worth individuals.

"We will use the fund in technology and other operational expenses," Karishma says.

The startup is targeting a Gross Merchandise Value (GMV) of Rs 650-700 crore this fiscal year, 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," adds Karishma.

Kult, a technology-led beauty platform that leverages AI to deliver personalized skincare recommendations, plans to onboard 700 handpicked premium products.

Payal says, "Kult's data-driven, customer-first, tech-led model signals the next evolution in the online beauty space, where deep personalization and human insight converge to deliver instant, precise solutions."

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“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," adds Aishwarya.