Vitruvi raised a $4.5 million round lead by Harbinger Ventures with participation from Lyra Growth Ventures in Q1 of this year.
WHO: Canadian essential oil company Vitruvi was founded by siblings Sara and Sean Panton three years ago. The range consists of multipurpose essential oils, oil diffusers, face and body mists, and roll on blends. Their products are sold in over 300 retailers including West Elm, CB2, Goop, Sephora and Nordstrom but the brand claims the majority of sales are generated direct-to-consumer.
WHY: With the infusion of capital they plan to invest in product innovation, digital experience, strategic partnerships and creating comprehensive sustainable home scenting systems.
IN THEIR OWN WORDS: “We really think about the customer’s journey through switching to natural-based products — that started with food ten years ago and has moved to clean beauty, and we feel very strongly that the third frontier is what’s around you — air care,” Panton told Forbes. “Fragrance-free, natural and non-toxic home scenting is something that Vitruvi will be the leader in — through education and products.”
- Vitruvi raised a $4.5 million round lead by Harbinger Ventures with participation from Lyra Growth Ventures.
- According to Forbes this round brings their total funding to $7 million and the business is profitable.
- Pitchbook reports the brand raises $2.5 million in venture funding in September 2016.
- The brand participated in the 2017 Sephora Accelerate cohort.
Photo: via Vitruvi