Novi, the first AI-driven platform for consumer product companies to source clean, sustainable, and safer ingredients, raises $1.5 million in seed funding.
WHO: Novi is enabling the future of transparent consumer products with an enterprise SaaS platform. It is the first platform that gives consumer product companies instant access to vetted ingredients. Novi’s ingredient assessments go beyond regulatory and certification checks and look at data for human health, environmental sustainability, social impact, and animal welfare.
IN THEIR OWN WORDS: “Consumers are increasingly demanding safe & sustainable products—they want full transparency into not only what’s in their products but how they’re made. With today’s increased demand, consumer product companies are now searching for how to make safer, more sustainable products. But it’s extremely hard to get right without high costs and delayed time to market,” said Kimberly Shenk, Novi co-founder and CEO. “Novi does the hard work so these companies get to market faster and don’t run the risk of launching products that may be harmful to consumer health or launching without the data necessary to substantiate their safety & sustainability claims. We provide access to thousands of vetted ingredients and safer alternatives that meet their unique ingredient transparency standards,” she added.
“Novi is at the forefront in empowering leading consumer products companies to source and ensure the proper inputs that deliver healthier, more sustainable, and more transparent products to their customers. We see a groundswell of consumer consciousness in this area, and believe there is tremendous opportunity for innovative brands and retailers to better meet these demands. Novi solves this important need, and we are excited to work with Kimberly as Novi continues to innovate and bring on more world-class customers,” said Brian Rothenberg, Partner at Defy and board member of Novi.
DETAILS:
