Venture studio Squared Circles lands US$40M to launch science-backed lifestyle brands
05 Jun 2024 --- Squared Circles, a venture studio developing science-based consumer brands, has raised US$40 million in a Series A funding round. The funding will enable scaling at least five new health and wellness brands in the next three years.
L Catterton led the round, extending their partnership following their involvement in Squared Circles’ Seed funding.
“We’re thrilled to support Squared Circles as they create some of the most forward-thinking and innovative products that leverage science and AI to meet the needs of the consumers of tomorrow,” says Jon Owsley, managing partner of L Catterton’s Growth Fund.
“Their targeted approach to consumables, expert grasp of consumer mindset and behavior and seamless fusion of science with culture fill an important gap in the market. Squared Circles is set to lead the next wave of profitable, impactful innovation that benefits both people and the planet.”
Skin and health innovation
Squared Circles has already launched three businesses. Magic Molecule, Algae Cooking Club and Freaks of Nature represent the studio’s commitment to using scientific advancements to benefit consumers.
Squared Circles uses bioscience IP with generative AI to create highly targeted product experiences.These companies have unveiled products ranging from a sustainable oil and fat substitute made from microalgae to a skin health solution that imitates hypochlorous acid, a naturally occurring substance produced by white blood cells and a skin microbiome-friendly material for outdoor enthusiasts.
Magic Molecule claims to remove bacteria with a simple spray targeting zits and pimples, eczema, itchiness, sunburns and skin texture.
AI-powered process
Squared Circles says it sets itself apart by licensing bioscience intellectual property, which enables the creation of highly targeted product experiences. This provides a competitive edge and accelerates the innovation process through generative AI, enhancing efficiency.
Looking ahead, Squared Circles hopes to collaborate with scientists and investors to create a future in which consumer products serve the dual purpose of individual and planetary well-being. This vision aligns with the findings of its 2024 Conscious Maximalist Report, which highlights a tension in consumer mindset. It suggests Americans are concerned about health and the environment, while also wanting to live in abundance.
“We want to work with scientists to shape a future where consumer products benefit both individuals and the planet,” says Osman Khan, co-founder and CEO of Squared Circles.
“We are excited to collaborate with leading consumer-focused investors such as L Catterton, who not only share our long-term vision for creating transformational brands and our dedication to ingenuity and sustainability but also bring the extensive consumer expertise and deep operational knowledge that will help support our future endeavors.”
Edited by Venya Patel
