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Robot Lash Tech Start-Up Luum Closes Funding Round

July 19, 2022
July 19, 2022
Luum

Luum, a studio offering the first eyelash extensions applied using robot technology, closed a seed round with a notable portfolio of investors, including Ulta Beauty.

WHO: Oakland-based Luum Precision Lash claims to use AI-powered robotic technology designed specifically for the application of lash extensions. Luum's technology will revolutionize the booming but painstaking eyelash extension service offered by salons, making it 3X faster, while offering a better and more consistent experience allowing salons to triple their throughput and revenues. The company has 31 patents globally. For retailers, Luum charges $125,000 to lease its robot and takes 30% of service fees.

WHY: Luum will leverage this latest round of support to build its next-generation machine for a soon-to-be-announced pilot program with one of the top five leading US cosmetics brands. The company is planning for additional rounds of funding and exciting partnerships in the near term to support its rapid growth.

IN THEIR OWN WORDS: "Our support for Luum reinforces Ulta Beauty's belief in the critical role advanced technologies such as robotics play in the future of beauty," said Prama Bhatt, Chief Digital Officer, Ulta Beauty. "Our teams are incredibly interested in exploring more technologies that amplify beauty experiences for our consumers and in funding Luum, we believe we are supporting yet another exciting industry advancement."

"This round of support from investors such as Ulta Beauty strongly signals our evolution as we bring our robotics one step closer to wide-spread availability," said Nathan Harding, CEO and co-founder, Luum. "The entire Luum team is excited about the enthusiastic response from the investor community as well as our crowd-funders. We remain committed to our mission of bringing the worlds of beauty and advanced-AI closer together for better consumer experiences."

DETAILS:

  • Luum has secured $2.9 million in seed funding from Ulta Beauty, Foundation Capital, Artifact Ventures, Ascendant Venture, Handshake Ventures, SaxeCap, and XSeed Capital. 
  • Lumm will launch commercially with a top-5 cosmetics retailer in 2022. 
  • This investment round follows the successful close of a $700K crowdfunding campaign on the Start Engine platform earlier this year.
  • The brand launched another crowdfunding campaign that could raise as much as $4.29 million.
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