Behind the Beauty Curtain: Meet the Founders

Dreams do come true, especially in the dynamic world of beauty tech. Meet Karishma Rathaur and Vivek Madani, the visionary founders behind Honestly, the platform revolutionizing how we choose beauty and personal care products. Tired of the endless trial and error with beauty products, they created Honestly in 2024—a platform designed to demystify the skincare and makeup market with AI-driven precision​.

Karishma Rathaur: A Blend of Beauty and Tech 

Karishma’s journey into entrepreneurship is marked by a wealth of experience in top-tier companies like Swvl, Uber India, and xto10x. Despite the lure of a stable corporate career, Rathaur’s entrepreneurial spirit was undeterred after an initial venture didn’t pan out. Driven by her passion for empowering women and transforming the beauty industry, she co-founded Honestly in 2024 to make beauty product discovery transparent and user-centric. (Karishma Rathaur)

Vivek Madani: Marketing Guru Meets Tech Innovator

Vivek Madani’s professional background is as diverse as it is impressive. Before co-founding Honestly, he made significant strides in some of the most cutting-edge sectors of technology. Madani’s career spans important roles at major companies like Flipkart and Uber, where he led initiatives that pushed the boundaries of web3 and Metaverse commerce.  (Vivek Madani)

Since its inception, Honestly has grown rapidly, driven by the founders’ commitment to transparency and user empowerment. The platform stands out for its innovative approach to beauty reviews, transforming how users interact with beauty products. 

Beauty Goes High-Tech: The Future of Skincare Is Here!

What is Beauty Tech? 

Beauty tech encompasses a wide range of innovations, from AI-powered skincare analysis tools to augmented reality (AR) makeup try-ons. The market has seen a surge in smart devices, such as at-home skin analyzers and personalized product recommendations powered by machine learning. Companies are leveraging AI to decode complex skincare routines, ensuring products match individual needs based on skin type, environment, and even daily habits.

The beauty tech market is poised for significant growth in the coming years, with a market value of $68.78 billion in 2024 which is projected to reach $116.17 billion by 2028, with a compound annual growth rate (CAGR) of 14.0%. (GII Research)

The Rise of Social Commerce

Social media platforms, particularly TikTok and Instagram, are playing a pivotal role in shaping beauty trends and consumer purchasing habits. The integration of social commerce features allows users to purchase beauty products directly through these platforms, with beauty brands seeing significant engagement and sales through these channels​.

Key Players and Innovations 

Several major beauty brands are investing heavily in technology. For example, L’Oréal has developed Perso, an AI-powered device that creates customized skincare formulas. Similarly, startups like Honestly are leveraging AI to provide personalized beauty advice and product recommendations, addressing the unique needs of every consumer. These innovations are reshaping the beauty landscape, making it more inclusive and accessible to a wider audience​ (Indian Startup News).

The Future of Beauty Tech 

As technology continues to advance, the beauty industry will likely see even more integration of AI, AR, and other digital tools. The focus will be on personalization, transparency, and user engagement, making beauty more scientific and data-driven than ever before.

Transforming Beauty with Brains: Discover Honestly’s Mission to Innovate!

Mission and vision 

Empowerment through Information Honestly’s mission is clear: to empower consumers with accurate and personalized beauty product information. The company aims to eliminate guesswork in beauty shopping by providing AI-driven insights that are easy to understand and act on. (About Honestly)

Problems They Solve: Cutting Through the Noise 

The beauty market is flooded with products, many of which come with conflicting reviews and dubious claims. Honestly tackles this problem by using AI to analyze product ingredients and user experiences. The platform connects users with others who share similar skin types, tones, and concerns, offering peer-to-peer insights that are tailored to individual needs. 

Business Model: B2B and B2C Synergy 

Honestly’s business model capitalizes on both B2B and B2C avenues. While the primary interface is consumer-facing, offering personalized product recommendations and reviews, the company also partners with beauty brands and e-commerce platforms. It provides them with APIs that enable these partners to integrate Honestly’s insightful widgets directly onto their product pages. This dual approach not only serves the end consumers but also benefits partner brands by boosting consumer confidence and potentially increasing sales.

Tech on the Beauty Shelf: Honestly’s Innovations

Personalized Product Recommendations 

At the heart of Honestly’s offerings is its personalized product recommendation engine. Honestly employs deep learning algorithms to analyze user data and product information. These algorithms process information such as skin type, product preferences, and user feedback to create a detailed profile for each user. By comparing these profiles against product databases, Honestly can predict which products will be most effective for a user’s specific needs​.

In-Depth Ingredient Analysis 

One of Honestly’s standout features is its in-depth ingredient analysis. The platform uses AI to decipher complex product formulations, providing users with clear, understandable insights about what’s in their beauty products and how these ingredients might affect their skin. It takes into account factors like allergenic potential, effectiveness, and user-reported satisfaction to recommend products that are both safe and effective.

AI-Driven Skin Assessment 

Honestly also offers an AI-driven skin assessment tool that evaluates users’ skin conditions and provides recommendations based on scientific data. This tool allows users to track changes over time, adjust their beauty routines accordingly, and see real results. It’s like having a dermatologist in your pocket, available anytime to guide your skincare journey​.

Community-Driven Insights 

Building on the power of community, Honestly facilitates peer-to-peer product reviews and discussions. Users can connect with others who have similar skin types and preferences to share experiences and tips. This community aspect not only enhances the user experience but also builds a network of trust and support within the platform​.

Integration with E-commerce 

For businesses, Honestly offers API integrations that allow beauty brands and e-commerce platforms to incorporate Honestly’s features into their own websites. This enables brands to offer personalized recommendations and detailed product information directly on their retail sites, enhancing the shopping experience for their customers​.

Betting Big on Beauty Tech: Honestly’s Funding Story

Honestly is attracting serious investor attention, and for good reason. The company’s innovative approach to beauty tech has not only captured the interest of consumers but also the confidence of investors. Since its inception, Honestly has successfully secured significant funding, which is driving its growth and expansion in the competitive beauty industry.

In July 2024, Honestly raised ₹3.2 crore (approximately $400,000) in a pre-seed funding round led by Better Capital. This initial investment was a major milestone for the startup, providing the necessary capital to develop its technology and prepare for a broader market launch. Alongside Better Capital, prominent investors such as Kunal Shah-led QED Innovations and senior leaders from Flipkart, Polygon, and Cred also participated in this round. (Tracxn)

Your Turn to Shine: Take a Page from Honestly’s Playbook 

By leveraging AI, the platform offers personalized, science-backed recommendations that empower consumers to make informed decisions. Honestly has proven that with the right idea and cutting-edge technology, you can transform even the most traditional industries. From personalized beauty recommendations to transparent ingredient analysis, this startup is redefining how consumers interact with beauty products. 

As the beauty industry continues to evolve, Honestly stands at the forefront, ensuring that consumers have the tools they need to navigate the complex world of beauty products with confidence. Whether it’s through its AI-powered ingredient analysis, personalized recommendations, or growing community of users, Honestly is making a lasting impact on the market and changing the way we think about beauty care​.

If you have an idea that can disrupt an industry or solve a common problem, now is the time to act. Take inspiration from Honestly and start turning your vision into reality. Don’t stop here! Explore more success stories, innovative ideas, and startup insights on Venture Kites. Learn from the best, gather insights, and start planning your next big move today.