Skin Inc Supplement Bar, the pioneer in premium custom skin-tech products and devices, closed a $7 million round of new investment from Singapore-based Mistletoe.

WHO: Founded by Sabrina Tan in 2008, Skin Inc celebrates the uniqueness that makes you “you” via a one-size-fits-me approach blending technology, data, and skincare. The brand has been harnessing the use of data and encapsulation technology for over a decade to develop customized skincare products and devices. Skin Inc is now present in over 178 cities with over 200 distribution outlets, including Sephora, Nordstrom, Bergdorf Goodman, Tmall, Lazada, Shopee, Amazon, Feelunique, and Urban Outfitters.

Mistletoe is owned by tech guru Taizo Son. Mistletoe’s mission is to recreate a sustainable human-centric future using technology and provide beneficial investment opportunities to create a collective community with big impact.

WHY: The company will set up data infrastructure to increase its speed to market for customized products and plans to strengthen its existing presence in Southeast Asia, where it is sold in China, Hong Kong, Australia, North America, and other markets.

IN THEIR OWN WORDS: “We are broadly pursuing the future of people’s wellbeing and wellness,” Atsushi Taira, Managing Director, Mistletoe, commented. “Beauty powered with technology is one of our interests. Skin Inc has been creatively thriving in this direction since its inception and we find that Sabrina is a like-minded founder to work together to achieve our goals.”

“The funds will be utilized for Skin Inc Cloud (Big Data, AI), e-commerce and omni-channel global expansion. It will also fuel the tech-led innovation that will set us apart and propel the beauty & wellness industry forward,” says Sabrina Tan, founder & CEO of Skin Inc.

DETAILS:

• Skin Inc received $7 million in Pre-Series A funding from Mistletoe, bringing the total funding to date to $10 million.
• In 2017 Skin Inc received a strategic investment from Korean entertainment conglomerates Spackman Entertainment Group Limited (“SEG”) and Spackman Media Group Limited (“SMG”).
• WWD reported that industry sources estimated that the company did about $39 million in sales for 2020, and could double in 2021.
• Global Expansion: Continue to expand e-commerce offering and omnichannel distribution worldwide.
• In addition to the funding, Skin Inc announced the appointment of William Gaultier as Global Chief Commercial Officer. Most recently, William led the e-commerce P&L and entire marketing organization at Sephora in eight markets.