UK-based vegan and sustainable skincare brand BYBI completed a $7 million Series A round of funding to expand into the US in Target stores in January.
WHO: Elsie Rutterford and Dominika Minarovic founded BYBI in 2017 after the duo co-authored a blog, hosted a podcast called Clean Beauty Insiders, and wrote a book entitled Clean Beauty: Recipes to Manage Your Beauty Routine, Naturally. BYBI Beauty, which stands for “By Beauty Insiders,” is a high-performance range of clean skincare products using sustainably sourced ingredients.
WHY: The investment will be used to fuel the company’s expansion to 1,841 US Target doors with an assortment of 12 products starting January 17, 2021.
IN THEIR OWN WORDS: “Fundraising throughout a pandemic was certainly challenging, but we’re thrilled with how the round has panned out,” said Rutterford. “The close of Series A marks an exciting time for BYBI as we shift our focus to expansion into the United States in a meaningful way.”
Minarovic added: “We couldn’t ask for better partners in Point King Capital and Unilever Ventures, their combined industry experience is unrivaled and both have a track record of back true industry disruptors like BYBI.”
“We are excited to partner with Elsie, Dominika, and the BYBI team as they pursue meaningful global growth ambitions,” added Sam McKay, Founding Partner of Point King Capital. “We have worked closely with team BYBI over the last 12 months and share their passion for accessible, efficacious, clean, and sustainable skin care. Elsie and Dominika are inspiring, authentic, and ambitious founders, and we are proud to be part of their journey.”
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