Squared Circles, a consumer-focused venture studio incubating brands grounded in science, closed a $40 million Series A funding round led by L Catterton. The investment follows L Catterton's prior participation in the company's seed round, which had been led by investor Wildcat Capital Management and Regeneration VC.WHO: Founded by Alexander Gilkes, Osman Khan, and Lukas Derksen, Squared Circles is a venture incubator with a focus on creating science-backed consumer products in the food, beverage, and health and wellness spaces. The founding team collectively has over 60 years of experience in building brands. Squared Circles has built and launched three companies: Magic Molecule, a skin health solution that recreates hypochlorous acid, a compound naturally produced by the white blood cells; Algae Cooking Club, which produces a healthy oil and fats product derived from microalgae, co-founded by Eleven Madison's Daniel Humm; and Freaks of Nature, a high-performance skin microbiome brand designed for outdoor enthusiasts, with Kelly Slater as co-founder. Differentiating itself from other venture studios, Squared Circles licenses novel bioscience IP to deliver targeted product experiences and competitive moats, and leverages a stage-gated playbook supported by generative AI to speed up innovation and improve efficiency.WHY: Squared Circles will use the new funding to launch and scale at least five more health and wellness brands over the next three years.