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FemTec Well being is buying tech start-up Mira Beauty, which makes use of knowledge and synthetic intelligence to match a client”s attributes with magnificence merchandise and content material they may discover related, for $28 million.
WHO: Based by Stanford graduates Jay Hack and Brandon Garcia, Mira reaches thousands and thousands of magnificence consumers weekly; counts over 100,000 merchandise from greater than 3,000 manufacturers; and interprets over 10 million product pages, genuine opinions, images, and movies into one clear, easy, and customized buying expertise that’s retailer agnostic and clear. Utilizing trendy machine-learning strategies, Mira offers a customized and prescriptive end-to-end magnificence looking expertise democratizing the world of magnificence by translating thousands and thousands of product opinions into digestible product synopses. Customers can discover out what shoppers actually suppose, do side-by-side comparisons, and click on by to buy their favourite merchandise for one of the best worth. At any time, customers can ask for recommendation and get product suggestions from customers with comparable pores and skin varieties, pores and skin tones, and aesthetic preferences.
Based in Might 2020 by Dr. Kimon Angelides and publicly launched in October 2021, FemTec Well being is the main well being and wonder sciences firm targeted on ladies’s well being. FemTech Well being’s mission is to revolutionize ladies’s healthcare through the use of state-of-the-art genomics, predictive intelligence, and digital applied sciences to create a unified, coordinated expertise and supply customized providers and merchandise which are significant and efficient for girls.
IN THEIR OWN WORDS: “It is actually thrilling to get our palms on the kinds of info that may assist us do our jobs higher,” says Jay Hack, cofounder of Mira. “It all of a sudden means you are in a position to attain into that individual’s life and have a way more intimate relationship with them.”
DETAILS:
- FemTec Well being is buying Mira Magnificence for $28 million. The phrases of the transaction weren’t disclosed.
- In September 2020, Mira Beauty closed a $9 million funding round to gasoline development led by 14W and Unilever Ventures with participation by a gaggle of buyers spanning cosmetics conglomerates, expertise, and client enterprise capital companies, in addition to marquee model founders. In 2019 the platform raised $4.53 million from buyers, together with Unilever Ventures, e.ventures, Founders Fund, and Nice Oaks Enterprise Capital.
- FemTech Well being additionally acquired Birchbox and Liquid Grids, a social advertising and marketing firm targeted on the healthcare sector.
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