Last May L’Oréal invested in Founders Factory, a global multisector digital accelerator and incubator in London. As part of the agreement, L’Oréal and Founders Factory will invest and scale five early-stage start-ups and co-create two new companies from the ground up each year. Last week they announced the selection of the first five beauty tech start-ups for the program, chosen from 180 applications and pitching sessions held at L’Oréal headquarters.
And the winners are…
InsitU: Personalized natural skincare developed by scientific experts and available through an online store. Founded by Greek scientist Dr Maria Salichou, who holds a nuclear medicine PhD from the University of Oxford and has over 10 years of scientific experience in biotech and healthcare.
Preemadonna: US-based company created by Pree Walia. Preemadonna’s Nailbot device and app enable users to design and print art onto their nails, using their phone, in a matter of seconds. The brand has 30,000 people signed up are ready to try the Nailbot.
Veleza: Founded by Lithuanian entrepreneur Martynas Nikolajevas, Veleza is an app-based, supportive community of beauty lovers that helps users discover products that best match their needs, providing inspiration, advice, and product reviews in real time.
Cosmose: Founded by Polish entrepreneur Miron Mironiuk, Cosmose uses sophisticated location technology that allows retailers to target offline customers via online channels. Already a success in Asia, Cosmose is based in Shanghai and Hong Kong.
Tailify: London-based Tailify, founded by Fredrik Segerby from Sweden and Didrik Svendsen from Norway, connects big brands to social media influencers to create campaigns, while enabling those influencers to track, distribute, and monetize their content.
L’Oréal and Founders Factory will support the growth of these start-ups in many ways: the in-house team of 60 digital experts at Founders Factory, many of whom are successful entrepreneurs themselves, will provide hands-on and operational support and mentoring. L’Oréal will bring its century-old beauty passion and expertise, access to marketing teams, R&I, and ecosystem.
Read the full press release at L’Oréal.
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