Biotech start-up Sequential Skin, specializing in skin microbiome testing, raised an oversubscribed seed round of $1.65 million.
WHO: Sequential Skin Ltd, a UK/Singapore biotech start-up, has raised $1.65 million in its oversubscribed seed round.
WHY: The investment will be used to extend the company’s B2B offering to skincare, haircare, and healthcare companies, adding to the 12 major clients currently using Sequential Skin. The business will also be rolling out a consumer product, focusing on expanding into the US via New York City.
IN THEIR OWN WORDS: "The world of skincare is flooded with a confusing array of products that only help some of the people, some of the time," said Rauno Miljand, Metaplanet Managing Partner. "We're proud to lead the investment in Sequential Skin. It is the first company, using genomics and microbiome skin assays, that identifies to consumers the exact products suited for each individual."
"$50Bn is spent on skincare products per annum in the US. Despite the value of mass marketed skincare products, the only way to truly understand skin health and create personalisation, is to understand your genetic predispositions and your skin microbiome. Consumers are demanding better solutions. Understanding these biomarkers allows for not only personalised skincare, but the ability to discover novel targets to treat skincare disease like atopic dermatitis," Miljand added.
- Sequential Skin raised $1.65 million in its oversubscribed seed round led by Metaplanet, and supported by Scrum Ventures, SOSV, Genedant, and angel investor Ben Holmes (former General Partner at Index Ventures).
- This latest investment brings the total venture funding raised by Sequential Skin to $2.15 million in 2021.
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