Irish prestige plastic-free beauty brand We Are Paradoxx has raised $4 million in seed funding with the closure of a recent $1million round.

WHO: Northern Ireland-based We Are Paradoxx was launched in 2019 by Yolanda Cooper, a self-described “accidental activist.” The haircare and body brand was inspired by high-performance, clean skincare with formulas that are up to 97% natural and 90% plastic free packaged in reusable aluminum components. Currently, the brand consists of 10 haircare and body care products and one electronic hair tool with plans to expand to 26 haircare and body care products and two electrical hair tools.

WHY: The new funds will be deployed to fuel expansion in the US market, develop body care, and more R&D for electrical hair tools.

IN THEIR OWN WORDS: Tom Singh, Founder of UK fashion retail chain New Look, and a We Are Paradoxx Board Director and Investor, said, “Continued innovation on new products, backed by excellent branding and marketing, has driven huge traction for the brand across multiple regions. The team’s focus, determination, and energy are a huge driving force behind the We Are Paradoxx ethos and I’m excited to see where the next step of their journey takes them.”

“We Are Paradoxx believes there is serious demand for innovation in both the hair care and hair tools market from smaller, more agile brands,” the company said in a statement. “Their reactive flexibility is a strategic factor in their bid to draw consumers away from big players across the categories.”

“The beauty industry produces more than 120 billion units of packaging globally, and only 9 percent of all plastic waste ever produced has been recycled,” Yolanda Cooper, We Are Paradoxx founder, said in the statement. “Consumers are no longer willing to accept this ignorance of the environment and so are seeking sustainable alternatives. At the same time, they are becoming increasingly discerning when it comes to what ingredients they apply to their skin. So a high-performance, clean and sustainable option is really attractive.”

DETAIL:

• We Are Paradoxx has raised $4 million in five funding rounds, recently closing a $1 million round, with new investors including Tom Singh, founder of the UK fashion retail chain New Look, alongside existing investors, including individuals and venture capitalists.
• We Are Paradoxx’s board has 11 members and a cap table with 21 individual stakeholders.
• The brand achieved 25% year-on-year growth, online sales experienced 137% growth in 2020, business on Amazon has increased by 236% since 2019, and sell-out across the brand’s retail partners is up 46% despite the pandemic.
• The business extends their global distribution to 22 markets including the Middle East, USA, Baltics, and Hong Kong, and is sold at 40 retailers in 22 markets though retailers like Ulta, Saks Fifth Avenue, The Hut Group, Asos, and Douglas.