Ieva raised a new 12 million euro financing round led by Crédit Mutuel Innovation combined with non-dilutive leverage of 5 million euros.

WHO: Ieva, founded by Jean-Michel Karam, is connected jewelry that measures environmental stressors and physical activity. It’s linked to a mobile application, which gives preventative and personalized recommendations based on environmental information and answers to brief questions pertaining to a person’s level of expertise in beauty, and hair and skin preoccupations.

The group is organized into three business divisions. Ieva’s beauty and cosmetics branch involves proprietary brands: the technical and green haircare label Elénature and the L’Atelier du Sourcil brand.

WHY: Karam told WWD that Ieva Group wants to become a major beauty player and will acquire and add more brands.

DETAILS:

• The brand told WWD it wants Ieva Group to become a major beauty industry player.
• Ieva raised a 12 million euro round of financing led by Crédit Mutuel Innovation combined with non-dilutive leverage of 5 million euros. The pool of IEVA’s investors now includes SEB Alliance.
• Ieva acquired beauty eye care specialist L’Atelier du Sourcil from its shareholders, adding a 40-SKU product range focused on makeup for eyes and eye contouring along with 109 boutiques, including 45 fully owned and 64 franchised locations, which are mostly in France, but also found in Belgium, Luxembourg, Spain, and Morocco, to its portfolio.
• The brand also unveiled a new app, billed to be the most advanced skin and hair diagnosis available on a mobile phone, connected through IEVA’s Twin.C smart jewelry.
• In July of 2019, Ieva raised 2.5 million euros via a convertible bonds issuance made via a private placement with CM-CIC Capital Innovation.
• The first round of funding was about 3 million euros in the second half of 2016, with CM-CIC Capital Innovation, Karam, and others.