PARIS – Beautigloo, a French company that manufactures eco-friendly refrigerators Beauty Boxes to preserve cosmetics and increase their effectiveness, raised 2.7 million euros in the first round of funding.
Investors include business angels brought together by family office Eukratos, private equity and venture capital fund Gemmes Venture, Bpifrance and Banque Populaire.
Florian Ménard, co-founder and technical director of Beautigloo, said: “We want to strengthen our industrial presence in France and increase our production capacity to continue to improve the production of our products. “. “This startup aims to expand its product line and recruit talent to support this growth and hopes to become a world leader in refrigeration. beauty, beauty. It also aspires to continue to develop trade in Europe, the United States and Russia, where it is already established. ”
Beautigloo was founded in 2017 by Ménard and Clara Lizier. The company is already part of L’Oréal and LVMH Moët Hennessy Louis Vuitton accelerator at Terminal F, Paris’ startup campus.
It took more than two years of research and development to create Beautigloo’s cosmetic refrigerator, which is made in France and consumes a low amount of energy. It is 90% recyclable, has no contaminating refrigerants and retails for 299 euros.
During the course of this year, sales at Beautigloo have tripled, with customers including Biologique Recherche, Dior and L’Oréal.
“We bring value to cosmetic brands by enhancing the beauty experience,” says Lizier. “With the Beauty Box in the Refrigerator, cosmetic efficacy is optimized and sensuality is increased tenfold.”
In January, Beautigloo opened a corner in the Galeries Lafayette department store on the Champs-Élysées Avenue.
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https://wwd.com/beauty-industry-news/beauty-features/beautigloo-raises-2-7-million-euros-1235001084/ Beautigloo raises €2.7 million in funding – WWD