Private-label beauty and wellness platform Blanka raised a $2 million seed funding round with the promise that they can launch a new beauty brand in under an hour, for less than $200.
WHO: Founded in 2020 by Kaylee Astle (CEO), Adam Chuntz (CMO), and Douglas Long (CTO), Blanka is positioned as a "private-label-as-a-service" platform. Indie beauty and wellness brands can use the platform for product procurement from North American suppliers and manufacturers, branding, fulfillment, and shipping. The business model is based on a monthly or annual subscription and a margin on all the products sold through its platform.
WHY: The investment will be used to build the company's marketing and tech teams, and scale its operations.
IN THEIR OWN WORDS: Astle told Axios, "We really started to understand the mechanics of the business and what levers we could pull to move faster. It became a no-brainer to raise capital to support that growth, but to also bring on the right advisors and investors to help us see around corners and scale the business to that next level."
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