The First Five Cosmetics Tech Startups Chosen To Join L’Oréal and Founders Factory New Accelerator

L’Oréal and start-up platform Founders Factory unveils the five cosmetics tech startups joining its new six month accelerator programme.

The joint venture aims to nurture innovative digital businesses to connect more to consumer needs.

Each year, L’Oréal and Founders Factory would support and scale five early-stage startups and also co-create two new businesses in the cosmetics tech sector.

The selected companies, picked out of 180 applicants, are:

InsitU – Personalised, natural skincare available online, developed by scientific experts and available through an online store. Founded by Dr Maria Salichou, a scientist of Greek origin, who holds a nuclear medicine PhD from the University of Oxford and has over 10 years of scientific experience in BioTech and healthcare. 

Preemadonna – Created by Pree Walia from the United States, Preemadonna’s Nailbot device and app enable users to design and print art onto their nails, using their phone, in a matter of seconds. 30,000 people have already signed up to try the Nailbot.

Tailify – London based Tailify founded by Fredrik Segerby from Sweden and Didrik Svendsen from Norway, connects big brands to social media influencers to create campaigns, whilst enabling those influencers to track, distribute and monetise their content. 

Veleza – Founded by Lithuanian entrepreneur Martynas Nikolajevas, Veleza is an app-based, supportive community of beauty lovers that helps users discover products that best match their needs providing inspiration, advice and product reviews in real time.

Cosmose – Founded by Polish entrepreneur Miron Mironiuk, Cosmose uses sophisticated location technology that allows retailers to target offline customers via online channels.  Already a success in Asia, Cosmose is based in Shanghai and Hong Kong. 

Lubomira Rochet, Chief Digital Officer L’Oréal, said: “We believe that open innovation will be key to identify new disruptive ideas and co-develop new services to meet the aspirations of our consumers.

“We are excited to champion the next generation of beauty entrepreneurs through our partnership with Founders Factory and accelerate their development by bringing them our expertise of the beauty industry.”

Image Courtesy – L’Oréal