Cordless beauty tool maker Lunata Beauty has raised a $3 million Series A from Enfield Investments Holding Ltd.

WHO: Founded by Monica Abramov and Stacey Boguslavskaya in 2017, Lunata is positioned as a beauty tech brand whose mission is to free women from cords. Currently focused on haircare, the brand is known for its cordless styling tools. Its assortment spans around 20 stock-keeping units, including shampoos, hair sprays, and volumizing sprays. Currently, the products are distributed at Costco, Kohl’s, QVC, Urban Outfitters, and other retailers.

WHY: The capital will be used for European expansion and to grow the team and its direct-to-consumer business.

DETAILS:

• Lunata Beauty raised a $3 million Series A from Enfield Investments Holding Ltd.
• Their company is projected to reach about $16 million in sales in 2020 according to Beauty Independent.
• The company launched its cordless, rechargeable curling iron/wand at CES in January 2019.
• In 2018, Joe Mimran, founder of Joe Fresh, Club Monaco, and Alfred Sung, invested in the company, followed by investments from Michael Malinsky, founder of DCB Lab and KF Beauty, former owner of Wunderbrow, and Luxy Hair co-founders Mimi and Alex Ikonn.