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Beauty Tech Start-Up Droplette Lands $15.4 Million Series B

December 13, 2021 BeautyMatter
December 13, 2021
Droplette

Droplette, the female-founded company led by MIT-trained scientists, has raised $15.4MM in Series B investment co-led by Victress and Spark Capital, with continued participation from Bolt and Amplifyher Ventures.

WHO: Founded in 2017 by Madhavi Gavini and Rathi Srinivas, two MIT-trained engineers, Droplette is a NASA- and NIH-backed consumer technology business revolutionizing the skincare industry with its breakthrough device that transforms the way ingredients are delivered into the skin. The technology was originally developed as a medical device to treat rare and debilitating skin diseases. The Droplette system uses serum capsules filled with collagen, glycolic acid, and retinol to generate an enhanced aerosol mist with fast-moving microscopic droplets to uniformly and painlessly deliver key active ingredients 20 cell layers deep into the skin.

WHY: The investment will accelerate Droplette's entry into new markets, expand its end-to-end automated capsule manufacturing technology, and fuel the development of skincare serums and technologies never before available to consumers.

IN THEIR OWN WORDS: "Droplette is truly revolutionizing skincare," said Lori Cashman, Managing Partner at Victress Capital. "The company's founders are pioneers in the field and have built a track record of clinically validated, peer-reviewed and published innovations at the intersection of consumer and healthcare industries."

“Our mission at Droplette is to build the future of skin rejuvenation," said Madhavi Gavini, co-founder and CEO of Droplette. "Painless delivery of ingredients into the skin is what makes Droplette a breakthrough technology. We're thrilled with the new and continued support from our investors as we continue to grow and innovate.”

DETAILS:

  • Droplette raised a $15.4 million Series B investment co-led by Victress and Spark Capital, with continued participation from Bolt and Amplifyher Ventures. The company has raised around $25 million to date.
  • The business received funding from the National Institutes of Health.
  • The business shipped over 1 million capsules this year alone, according to Gavini, and has three new formulations in R&D.
  • The Boston company has about 45 local employees.
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