Global fragrance, flavor, and ingredient supplier Symrise will participate in the Series A funding round of Ignite Venture Studio, expanding on a strong existing partnership.
WHO: Ignite Venture Studio was founded in 2018 by Former J&J executives. The US-based company develops early-stage personal care brands or invests in those that it considers to have high-growth potential and the possibility of positively impacting consumers and the environment. Their studio infrastructure, brand-building expertise, and proven track record support their portfolio that includes Kadaly's, Sunday II Sunday, Fluent, Layers, and Allwell.
Symrise is a global supplier of inspiring fragrances, flavors, natural nutrition, and cosmetic ingredients solutions. With a market share of 10% (2018), Symrise is one of the world's top suppliers in the flavor and fragrance market. The company has three segments: Flavor, Nutrition, and Scent & Care.
WHY: Symrise has a strong partnership with existing strategic projects. By investing in Ignite Venture Studio, Symrise will expand its expertise in this market environment and grow alongside the creativity and speed of the personal care industry. The transaction intends to establish a long-term partnership with Ignite Venture Studio.
IN THEIR OWN WORDS: Dr. Jörn Andreas, President Cosmetic Ingredients, Symrise explains: "Ignite Venture Studio pioneers in building and accelerating beauty brands of the future. As the beauty and personal care industry continues to evolve, we are constantly looking for opportunities to gain deeper market insights and to drive product innovation. Symrise and Ignite Venture Studio have an excellent track record of creating successful collaboration projects. We look forward to continuing our work together to define the future of beauty."
Josh Ghaim, Managing Director, Ignite Growth Brands, adds: "Working with Symrise as an investor as part of our financing round represents a perfect fit. Our two companies are committed to delivering impactful product innovation to brands with a sustainable focus. The collaboration will allow us to translate consumer insights into tailored formulations that address the latest trends and evolving consumer needs. We look forward to this next chapter, beyond Sunday II Sunday, to unlock the potential of our portfolio of brands."
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