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FemTec Health Sells Off Mira Beauty Assets

Published May 17, 2023
Published May 17, 2023

FemTec Health sold off beauty tech start-up Mira AI (formerly named Mira Beauty) to Longmont Acquisition Corporation after purchasing it in November 2021 for $28 million.

WHO: Founded by Stanford graduates Jay Hack and Brandon Garcia, Mira reaches millions of beauty shoppers weekly; counts over 100,000 products from more than 3,000 brands; and translates over 10 million product pages, authentic reviews, photos, and videos into one clear, simple, and personalized shopping experience that is retailer agnostic and transparent. Using modern machine-learning techniques, Mira provides a personalized and prescriptive end-to-end beauty browsing experience democratizing the world of beauty by translating millions of product reviews into digestible product synopses. Users can find out what consumers really think, do side-by-side comparisons, and click through to purchase their favorite products for the best price. At any time, users can ask for advice and get product recommendations from users with similar skin types, skin tones, and aesthetic preferences.

Founded in May 2020 by Dr. Kimon Angelides and publicly launched in October 2021, FemTec Health is the leading health and beauty sciences company focused on women's health. FemTec Health's mission is to revolutionize women's healthcare by using state-of-the-art genomics, predictive intelligence, and digital technologies to create a unified, coordinated experience and provide personalized services and products that are meaningful and effective for women.

WHY: FemTec Health raised $38 million in funding at a valuation of $380 million from investors that include Longmont Capital, Hellas Med, Walgreens, Trinity, Unilever, and the Estée Lauder Companies. Early this year, as part of its strategic tightening around core healthcare businesses, FemTec Health engaged a national financial consulting firm to advise and explore possibilities for the sale of some of its non-core and underperforming assets.


  • Longmont Acquisition Corporation acquired Mira AI along with Liquid Grids, Nutrimedy, Awesome Woman, and AvaScience-FMTC GmbH from FemTec Health. 
  • FemTec Health acquired Mira AI in November 2021 for $18 million.
  • In September 2020, Mira Beauty closed a $9 million funding round to fuel growth led by 14W and Unilever Ventures with participation by a group of investors spanning cosmetics conglomerates, technology, and consumer venture capital firms, as well as marquee brand founders. In 2019, the platform raised $4.53 million from investors, including Unilever Ventures,, Founders Fund, and Great Oaks Venture Capital. 
  • Retention Brands, an investor in subscription commerce and e-commerce businesses, acquired the assets of Birchbox from FemTec Health
  • Awesome Health, Inc., whose mission is to provide exceptional care for the most underserved conditions in women's health, acquired the remaining assets from FemTec Health.

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