Korean-inspired lifestyle and gifting retailer Uni Seoul has raised Rs 35 crore (about $3.7 million) in a Series A funding round co-led by Riverwalk Holdings and Sauce.vc.
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Panthera Peak Ventures and a group of existing angel investors also participated in the round.
The Pune-based startup said it will use the funds to expand its offline retail presence, enter quick commerce, strengthen its supply chain and grow its private-label portfolio.
Founded in 2023 by Gaurav Karmani and Mohit Khurana, Uni Seoul operates an offline-first retail model focused on Korean design-inspired lifestyle and gifting products.
The startup currently runs 15 stores across Indian cities including Bengaluru, Pune, Mumbai, Hyderabad, Ahmedabad and Nashik.
Its portfolio includes more than 1,000 products across categories such as plush toys, home décor, stationery, bags, travel accessories, beauty products and gifts. The products are priced between Rs 99 and Rs 2,999.
Uni Seoul plans to increase its store network to more than 50 outlets in the near term and build 500 retail touchpoints over the next five years through a mix of startup-owned and franchise-led formats.
The brand is also looking to expand through quick-commerce platforms such as Blinkit, Zepto and Swiggy Instamart, targeting demand for impulse purchases and gifting products.
“With this capital, we get to do that at a scale we’ve always wanted: more SKUs, tighter VM standards across every store, and a product experience that’s consistent whether you’re walking into our Bengaluru flagship or discovering us on an online commerce platform,” Karmani said.
Khurana said the company planned to scale its retail presence and expand into quick commerce as it looks to build a category-defining impulse lifestyle retail brand in India.
The fundraise comes amid growing consumer interest in Korean-inspired products in India, supported by the popularity of K-pop, K-dramas and K-beauty.
India’s Korean beauty market is projected to grow from $0.4 billion in 2024 to $1.5 billion by 2030, at a compound annual growth rate of 25.9%, according to a report by kindlife and Datum Intelligence cited by ETRetail.