May investments roundup: Personal care and lifestyle brands flourishMay investments roundup: Personal care and lifestyle brands flourish
Personal care and wellness lifestyle brands that enhance daily life are becoming increasingly popular. As a result, investors are seeking them out, as well.
June 6, 2023
Each month, New Hope Network rounds up the must-know investments in the natural products industry. Through Nutrition Capital Network, New Hope Network editors follow investment news to see what financial moves could significantly influence the industry and identify trends with funding support. Check back each month to see the latest investments that caught our eye.
This month saw numerous personal care and lifestyle investments pour in, reinforcing the importance of catering to individuals' well-being and enriching their lifestyles. From personalized skin care innovations to new marketplaces, these investments show confidence in this industry's potential for personal care and lifestyle brands. Read on to which brands that prioritize self-care and enhance daily lives recently received funding.
Cleverman raises $1.8M funding
DTC men's grooming brand Cleverman has raised $1.8 million in seed funding led by L'Attitude Ventures, which is committed to empowering the Latinx entrepreneurial community. Cleverman offers customized hair and beard color solutions for men through a simple quiz and over 10,000 options. The funding will support product innovation, omnichannel expansion and brand awareness. The seed funding also included participation from Fab Co-Creation Studio Ventures and angel investors.
Beauty meets biotech
Oddity, the parent company of beauty brand Il Makiage has acquired Revela, a biotech startup that develops skincare solutions, for $76 million. Revela uses advanced algorithms to analyze genomic and other biological data to create personalized skin care solutions for its clients. The acquisition will help Oddity strengthen its position in the beauty industry and improve its ability to provide customized skin care solutions to its customers. Oddity will also create Oddity Labs in Boston through an additional $25 million investment, helping develop biotech innovations.
$5M funding for South Korean beauty brand
South Korean aggregator of health and beauty brands Grace has secured $5 million in Series B funding from SKS Capital. The investment will help Grace expand its operations, hire personnel, develop new services and pursue regional growth opportunities. As the largest supplier to Olive Young, South Korea's largest health and beauty retailer, Grace supplies online and offline channels and has been exporting South Korean brands to more than 60 countries via B2B and D2C channels.
EcoSoul Home Raises $10M
EcoSoul Home, a provider of eco-friendly home essential products based in Bellevue, Washington, has raised $10 million in a Series A funding round led by Accel, with participation from Singh Capital Partners. The company plans to use the funds to launch new products, expand internationally into the United Kingdom, the European Union and Asian markets, and strengthen its technology and data capabilities.
Ryan Breslow, founder of Bolt, launches Love.com
Love, a health and wellness online marketplace founded by Ryan Breslow, has launched after raising just under $20 million. MaC Venture Capital and Streamlined Ventures, which previously backed Bolt, invested. Initially envisioned as a "people-powered pharma" with a decentralized autonomous organization (DAO), Love pivoted to start as a wellness marketplace offering curated products. The platform ensures compliance and safety through partnerships with clinical trials company Radicle Science and a team of advisors.
For more health and wellness investment news, sign up for the bi-monthly newsletter, NCN News.
About the Author(s)
You May Also Like