Indian luxury makeup brand Heart Of Shades, supported by Web3 and other technologies, announced the completion of the Pre-Seed round of financing at a valuation of 40 million rupees (approximately US$486,000). Several angel investors and HNI participated in the investment, but the specific financing amount has not yet been announced disclosure. The company will use the funds to expand markets, accelerate front-line production, develop cutting-edge technologies and drive brand-building activities. The Bangalore-based startup was founded in 2022 by female entrepreneur Niharika Dolui, who is also founder of the decentralized social metaverse Hello Fans, according to her Linkedin profile.