Powder Beauty Secures Pre-series A Funding to Expand in KSA
Powder Beauty was founded in 2018 by Ayat Toufeeq, Amina Grimen, and Marriam Mossall.
UAE’s Powder Beauty, the Middle East’s first female-owned e-commerce platform for conscious beauty and wellness products, has closed its pre-Series A funding round. The round was led by Sara and Magnus Olsson through their venture, Sophia Collective, and NKHEL, a family office fund by Nithin and Nikhil Kamath, founders of Zerodha. Prominent regional angel investors, including Shark Tank Arabia’s Maha Taibah, also participated.[1]
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The fresh capital will enable Powder Beauty to scale operations in Saudi Arabia, where the clean beauty market is valued at $8.7 billion and is projected to reach $39 billion by 2033.
Founded in 2018 by Ayat Toufeeq, Amina Grimen, and Marriam Mossall, Powder Beauty plans to introduce new brands and expand its product categories, including skincare, haircare, makeup, and wellness.