L’Oréal’s corporate venture capital fund made its inaugural investment with the acquisition of a minority stake in Sillages Paris, a French start-up offering an online service to create customized fragrances based on artificial intelligence and machine learning.
WHO: Sillages Paris has set out to revive the heritage of French perfumery by creating fragrances that are both luxurious and unique to each wearer. The online service creates customized fragrances based on artificial intelligence and machine learning.
BOLD Business Opportunities for L’Oréal Development is a corporate venture capital fund that takes minority stakes in innovative start-ups with high growth potential. The fund invests in new business models in marketing, R&I, digital, retail, communication, supply chain, and packaging, and supports the start-ups with L’Oréal’s expertise, networking, and mentorship.
IN THEIR OWN WORDS: Maxime Garcia-Janin, founder of Sillages Paris, said: “At Sillages Paris, our ambition is to leverage digital to make customized fragrances accessible to all. We are very proud of this partnership with L’Oréal which will allow us to accelerate towards our goal while retaining our independence.”
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