Beyond The Headlines: Planity secures €46M funding, Beyoncé’s BeyGood x Cécred Fund scholarships
23 Feb 2024 --- This week in industry news, the beauty sector witnessed strides in funding and innovation. From Planity’s funding boost to Beyoncé’s scholarship initiative and skin care advancements by Delavie Sciences, these stories reflect the latest industry developments.
Business and funding
EU Start-ups reported Paris-based Planity secured €46 million (US$50 million) in Series C funding led by InfraVia Capital Partners to drive international expansion and enhance its booking platform for the beauty industry. Planity is a platform for booking beauty appointments in France that was founded in 2017 and is quickly growing in Germany and Belgium. CEO Antoine Puymirat emphasized the company’s model’s success and its aim to become a European leader. The funding will support recruitment, product enhancement and integration of conversational AI for appointment bookings and mobile payments.
Delavie Sciences expanded its Space Certified skin care line with the Aeonia Gentle Age Defying Serum.Beyoncé’s BeyGood x Cécred Fund announced US$500,000 in funding for a cosmetology school to foster talent and support entrepreneurship in the hair industry. The scholarships, totaling US$10,000 each, will be granted annually to US students in Atlanta, Chicago, Houston, Los Angeles and New Jersey. Recipients must demonstrate financial need and be enrolled or accepted into partner cosmetology schools. Recipients will be announced by the end of April.
BosleyMD partnered with Yuva Biosciences to launch YuvaBio Y100 technology, aiming to combat aging-related hair loss. Led by Dr. Keshav K. Singh, Yuva pioneers mitochondrial science, backed by a US$7.5 million seed round led by VentureSouth. Yuva Biosciences targets broader applications beyond skin care and hair care, leveraging its platform for future breakthroughs to address additional mitochondrial-related health concerns such as fertility issues and wound care.
Launches and releases
Delavie Sciences expanded its Space Certified skin care line with the Aeonia Gentle Age Defying Serum, which is tailored for sensitive skin. Featuring Bacillus Lysate and no alcohol or fragrances, it is said to hydrate and reduce signs of aging without irritation. It is touted as clinically proven to boost hyaluronic acid production and gentle on sensitive skin. Co-founded by Harvard geneticist Dr. David Sinclair, Delavie Sciences says it prioritizes innovation and accessibility in skin care.
RoC Skincare launched its Derm Correxion Firming Serum Stick, a retinol-based formula designed to lift, tighten and smooth skin. Developed with dermatologists and plastic surgeons, the stick format was chosen for easy application to the face, neck, chest and hands. The product combines Thpe for firming and retinol for elasticity. The company says its new ingredient, Thpe, tightens and contours the skin. Clinical studies showed immediate smoothing and hydration, with visible improvements in skin firmness and reduction of lines within weeks.
Perfect Corp.’s Multi-Tone AR 3D Blush Try-On tool.
Perfect Corp. elevated virtual beauty experiences with its Multi-Tone AR 3D Blush Try-On tool, offering users wider shades and textures for experimentation. The company believes the enhancement enables personalized makeup looks with precision and creativity, integrating into the brand’s makeup virtual try-on ecosystem. CEO Alice Chang emphasizes the company’s commitment to innovation, aiming to empower individuals to express their unique beauty creatively.
New U Hair launched the TrichoBioScan, a diagnostic tool to understand the causes of hair loss. It comprises a microscopic evaluation, clinical blood test and advanced genetic test, helping identify underlying issues like infections, hormonal imbalances or hereditary factors. Dr. Paul Rose warns against ineffective treatments, advocating for a comprehensive approach like the TrichoBioScan.
Crown Laboratories announced PanOxyl as the top dermatologist-recommended Benzoyl Peroxide brand, validated by a recent IQVIA ProVoice survey. PanOxyl secured this position with 53.8% of recommendations, which was double that of any other brand. The company says its products are clinically proven, including the Acne Foaming Wash, PanOxyl, continuing to lead in acne treatment.
Coty received a B score through CDP.
Celebrity activities
Victoria Beckham introduced cleansing as a new category in her beauty business. Working with celebrity facialist Melanie Grant, the two cleansers, gel-based and oil-based, were launched after two years of development. Beckham cited the need for a high-quality cleanser in her skin care routine. Beckham says the collaboration stemmed from her admiration for Grant’s expertise. The product packaging features muted forest green and dark brown tones.
Edinburgh is set to host a Chanel Beauty pop-up boutique in March featuring the Rouge Allure Velvet Nuit Blanche lipstick launch. The pop-up will reportedly offer an experience inspired by nighttime excursions, showcasing eight shades of the limited-edition matte lipstick. The pop-up will play the Nuit Blanche campaign film starring ambassador and actress Margot Robbie. Located at No. 8 Charlotte Square, the venue is spread across two floors. Visitors can participate in makeup masterclasses and interactive spaces.
ESG report
Coty disclosed its 2023 climate change impact through the Carbon Disclosure Project, receiving a B score for its efforts in reducing climate impact. In their FY23 Sustainability Report, Coty exceeded science-based emissions reduction targets, achieving an 82% reduction in scope 1 and 2 emissions. Coty also says its energy reduction targets were surpassed, with waste sent to landfills from factories and distribution centers. Coty commits to setting long-term emissions reduction targets aligned with science-based net zero by November 2025.
By Venya Patel
