Crédit Mutuel Equity is a private equity firm that invests in industrial companies. It also seeks to invest in companies operating in the agri-food, consumer goods, distribution, e-commerce, energy, real estate, construction, software, media, healthcare, services, transport, and logistics sectors.

Crédit Mutuel Equity

BDC Venture Capital is a major venture capital investor in Canada, active at every stage of the company's development cycle, from seed through expansion, with a focus on technology-based businesses that have high growth potential and that are positioned to become dominant players in their markets. The company helps create and develop strong Canadian businesses through financing, consulting services and securitization, with a focus on small and medium-sized enterprises. BDC Venture Capital has been involved in venture capital since 1975 and has to date invested in more than 400 companies involved in the areas of Life Sciences, Telecommunications, Information Technology and Advanced Technologies.

BDC Venture Capital

Since its creation in 1996, Fondaction has been based on the belief that it is not only possible to do things differently in the financial and business world, it is a necessity.  Fondaction helps Québecers prepare for retirement by offering affordable retirement savings to everyone. The savings collected are invested in companies across Québec. This way, Fondaction helps create and maintain quality jobs, contributing to a stronger, more equitable and greener economy.  Created in 1996, Fondaction is a labour-sponsored fund with assets in excess of one billion dollars collected as retirement savings from more than 131,000 shareholders. Fondaction's direct investments and those made through investment funds support the development of more than 1 050 SMEs in different lines of business, in large part involved in various components of the social economy.   Fondaction has always been resolutely committed to socially responsible finance, from the moment it was created. The principles of sustainable development are integrated in everything it does. Whether investing in businesses directly or in capital markets, Fondaction always applies the principles of responsible investment to the money entrusted by its savers.    Fondaction was one of the first institutions in Québec to make accountability reports an obligation in an effort to improve its practices and contribute to moving sustainable development forward in Québec. It produced its first report on sustainable development in 2006 in accordance with the international standards of the Global Reporting Initiative (GRI), the highest standards of precision and transparency in economic, social and environmental accountability.  In 2010 and 2012, Fondaction remained at the forefront with its 3rd and 4th sustainable development reports, having them reviewed by an independent firm and achieving an application level of A+ from the GRI. Fondaction is the only financial institution in Québec to achieve this level.  In 2014, Fondaction tabled its 5th sustainable development report, produced in accordance with the latest GRI guidelines, the G4. Fondaction also opted for Comprehensive compliance, becoming the 1st financial institution in North America and the 9th in the world to voluntarily adhere to these requirements.

Fondaction

Accelia Capital is a venture capital fund that invests in innovative companies with high technological potential. We aim for diversity, performance, and impact by favoring businesses owned or led by women. They invest in the most promising start-ups that have completed the development of a product or service and have gained some market validation. Their portfolio companies also benefit from the support of renowned female investors who contribute their network of contacts and expertise in various fields.

Accelia Capital

Bdc thrive venture invest in women-led technology companies to accelerate their growth and transform today’s markets.

Bdc Thrive venture

Omy Laboratoires

Omy Laboratoires develops and manufactures personalized cosmetic skin-care products using its AI based skin analysis system.

Based in Canada, Omy Laboratoires is an AI-based developer of personalized skin care products. Customers are required to take the skin analysis test available on the website taking into account factors like environment pollution in the region, time spent in front of a screen, and skin conditions. This is followed by a photo analysis processed using AI to determine the suitable ingredients. The company then creates a personalized product to match the results.

The intersection of beauty and technology to deliver hyper-personalized products.

Beauty Tech

Omy Laboratoires Launches at Jean Coutu and Brunet Banners Across Quebec Français

Based in Canada, Omy Laboratoires is an AI-based developer of personalized skin care products. Customers are required to take the skin analysis test available on the website taking into account factors like environment pollution in the region, time spent in front of a screen, and skin conditions. This is followed by a photo analysis processed using AI to determine the suitable ingredients. The company then creates a personalized product to match the results.Omy’s products are designed for sensitive and atopic skin. Its products are 100% vegan, formulated with over 95% naturally sourced ingredients. The company leverages ingredients like hyaluronic acid, peptides, and niacinamide. The company aimed as of May 2023 to adopt eco-friendly packaging solutions. Omy’s products are available for purchase on an outright sales basis. Its personalized day creams, night creams, and personalized 5% Niacinamide Serumand were priced at USD 64.99–USD 84.99 as of January 2024. Omy planned to transition to using bio-based, recyclable plastic or incorporating recycled materials in its packaging.Funding and financialsOmy Laboratoires raised USD 11 million in April 2023 led by Credit Mutuel Equity. The funds were to be used to introduce its products in the North American market, recruit staff, and acquire production equipment.

Ipsy provides a subscription-based personalized bundle of beauty products. It uses an online quiz to obtain customer attributes such as skin tone, hair color, and preferred brands and uses its proprietary machine learning technology named “IPSY MATCH” to match products from selected brands with customers.Ipsy provides three customized subscription-based product bundle options: 1) Glam Bag (five deluxe-sized samples for USD 14 per month); 2) BoxyCharm (five full-sized products for USD 30 per month); and 3)Icon Box (eight full-sized products for USD 60 per quarter). Ipsy also enables customers to pick three products out of 12 recommendations, allowing the company to gain insights on customer preferences which are in turn used to improve its recommendation engine.Ipsy ships to the US, Canada, and Mexico with over 3 million active members as of November 2020. As of October 2023, Ipsy had over 3.6 million followers on TikTok and was claimed to be the most followed beauty brand on the platform.In November 2020, Ipsy acquired the subscription-based beauty product provider BoxyCharm in a USD 500 million deal, and, in March 2023, merged the two brands under Ipsy’s brand portfolio.Key customers and partnershipsIpsy’s platform features various makeup brands from over 330 retailers (November 2023).Ipsy creates curated makeup boxes in partnership with celebrities and popular makeup artists such as the founder of the cosmetic brand Anastasia Beverly Hills, Anastasia Soare (March 2023), the American actress and singer, Vanessa Hudgens (July 2023), the british makeup artist, Pat McGrath (October 2023), and the American singer and songwriter, Gwen Stefani (February 2024).Key Competitors : None comparable (Ipsy is the only company in the hub that offers customized subscription boxes for an assortment of various types of beauty products.)

Ipsy

Proven Skincare develops personalized products based on a custom formula that incorporates 45 factors about the user including environment, lifestyle, and skin concerns. Based on the identified skin genome profile, three multifunctional products are developed, i.e. a multifunctional cleanser/toner, a moisturizer, and a night cream/serum. Proven Skincare products can be purchased as a one-off or on a subscription.Proven claims that its proprietary “Skin Genomic Database” consists of over 20 million customer testimonials, 8 million online reviews, and data from over 4,000 scientific papers analyzed with machine learning and natural-language processing to identify the most suitable clean ingredients for each customer.The company also introduced a <a href="https://sp-edge.com/updates/10097?industryIds=39">personalized eye cream </a>duo for day and night use in May 2022. Proven's skincare personalization process received a US <a href="https://sp-edge.com/updates/11478?industryIds=39">patent </a>in July 2022. It introduced a <a href="https://sp-edge.com/updates/24527">personalized Serum </a>in November 2023 which leverages AI to determine the optimal skincare ingredients for each user.Proven Skincare <a href="https://sp-edge.com/updates/11716?industryIds=39">expanded </a>into the European Union (EU) and the UK in July 2022.Key customers and partnershipsThe company announced a partnership with Sephora in January 2023 to bring its personalized skincare solutions to <a href="https://sp-edge.com/updates/16034">Sephora’s </a>digital and brick-and-mortar stores.As of September 2021, Proven Skincare had <a href="https://www.retaildive.com/news/how-high-is-the-ceiling-for-personalized-beauty-brands/606802/">over 100,000 customer </a>s, ~70% of which were repeat shoppers.Funding and financialsFrom its launch in October 2019, the company had reportedly reached a USD 24 million average annual revenue within two years of operation in the North American market, with 80% of customers on a subscription-based sales model.In September 2023, the company raised <a href="https://sp-edge.com/updates/22322">USD 12.2 million </a>in series A funding led by NewH2 Ventures to enhance its brand presence and expand its team.

Proven Skincare

Function of Beauty is a developer of custom hair care, skincare, and body care products. The company initially focused on hair care and subsequently expanded its focus to skin and body care products in July 2020. Function of Beauty formulates custom products based on an online quiz using an algorithm capable of offering 12 billion custom combinations developed by the company’s founders—a group of MIT engineers and data scientists including Zahir Dossa and Joshua Maciejewski.The company’s products are vegan, cruelty-free, sulphate-free, gluten-free, and paraben-free. Its hair care products have a patented Adaptive f3 Bonding Complex. Function of Beauty’s customized products include shampoo and conditioner (starting at USD 20 as of January 2024), body wash and body lotion (starting at USD 21 as of January 2024) and moisturizer (starting at USD 45 as of January 2024).Function of Beauty carries out product designing, development, manufacturing, and packaging in-house with occasional consultant feedback. Function of Beauty uses automated processes, including a robotic system for order dispensing. The system can use 20–50 ingredients per bottle. As of January 2024, the company shipped to over 48 countries including the US, the UK, Canada, EU countries, and several Asian countries.In August 2021, Function of Beauty acquired Atolla, a custom skincare product developer to combine its proprietary formulations with Atolla's patented skincare technology to offer advanced custom skincare products.Key customers and partnershipsIn September 2022, the company partnered with Canadian retailer <a href="https://sp-edge.com/updates/13191?industryIds=39">Shoppers Drug Mart </a>to launch its personalized hair care products in Canada. In August 2023, Function of Beauty launched a new Function of Beauty <a href="https://sp-edge.com/updates/21500">PRO hair care range </a>in 300 Sephora locations across North America and online. It also has a wholesale partnership with Amazon (<a href="https://sp-edge.com/updates/30313">June 2024</a>) to offer hair care products through Amazon’s e-commerce platform.

Function of Beauty

Hawthorne is a developer of custom fragrance, body care/grooming, hair care, and skincare products for men. The company launched with fragrances, introduced body care products in 2018, hair care products in 2019, and in January 2020 introduced custom skincare products. An online quiz collects information such as daily routine, lifestyle, taste, and familiarity with grooming products. That information is then analyzed using a proprietary data processing algorithm.Hawthorne claims that the algorithm can match customers with a product that suits their body chemistry, skin type, hair type, and lifestyle with a 97% accuracy. As of January 2024, the company’s personalized fragrances were priced at USD 50–60 and skin and hair care products were priced at USD 17–21. The company ships to the US, Hawaii, and Alaska.Key customers and partnershipsHawthorne’s perfumes are developed in collaboration with award-winning perfumers such as Rodrigo Flores-Roux, Olivier Gillotin, and Quentin Bisch.

Hawthorne

Prose develops custom hair care products and hair care routines based on responses to an online quiz. The quiz obtains customer information about hair type, current hair care habits, diet, stress level, physical activity and factors such as ultraviolet (UV) exposure, pollution, humidity, wind, and other <a href="https://sp-edge.com/updates/9356?industryIds=39">micro-local factors </a>. The quiz also takes customer’s preferences such as vegan or gluten-free requirements into consideration. The information is processed through Prose’s proprietary algorithm to create individualized products. Prose uses a semi-automated approach to manufacturing where the production is carried out by a chemist with the aid of automated mixing and packaging.In April 2021, the company introduced “Root Source,” a hair supplement to treat environmental causes of hair loss. The product consists of two pills, a universal soft gel and a customized capsule, and, as of January 2024, was priced at USD 57.2. The product was developed based on insights derived from information collected through Prose’s online quiz, which revealed that around 85% of the brand’s customers experience hair loss. Root Source’s clinical trials claim around 93% of users experiencing improved hair growth after taking the supplement for 90 days. Prose also introduced a <a href="https://sp-edge.com/updates/12245?industryIds=39">personalized styling gel </a>specifically targeting curly hair in August 2022.In June 2023, Prose expanded into <a href="https://sp-edge.com/updates/19873">skincare </a>with an AI-powered system offering customized formulas based on individual needs, targeting multiple skin concerns, and addressing factors such as skin type, diet, stress, pollution, and climate while allowing fragrance and texture customization. In <a href="https://sp-edge.com/updates/28430">April 2024 </a>, the company launched an AI-based beauty tech customization platform, Singular. The company claims to have completed over one million consultations in the 11 months leading up to November 2019.

Prose

Companies that leverage technologies such as AI/ML and AR/VR  to enable cosmetic producers to offer personalized product offerings to consumers. This could include virtual-try-ons for cosmetics such as makeup and hair color in addition to solutions for skin analytics.

Companies that formulate customized solutions for skin, leveraging technologies such as AI/ML to conduct skin analysis, and provide personalized recommendations, which are directly sold to consumers.

Companies that leverage biotechnology, nanotechnology, or other technologies to develop biomaterials or novel lab-grown ingredients (e.g., bio-based cosmetic polymers) for use by the broader beauty industry.

Companies that leverage technologies like IoT to develop smart devices (e.g., smart mirrors, wearables) that offer real-time analysis of skin health, skincare routines, and product usage for consumers. This also includes companies that offer 3D-printed makeup, at-home beauty tech (e.g., at-home manicure machines), and other tech-based personal care products (e.g., tech-enabled color-changing nails).

Companies that leverage technologies such as AI/ML to match consumers with third-party beauty products by offering personalized recommendations to consumers, which are curated based on each individual customer’s preferences.

Companies that formulate customized hair and other beauty solutions such as fragrances, leveraging technologies such as AI/ML to tailor product recommendations, which are directly sold to consumers.

Beauty tech features brands that leverage IoT for smart devices

Personalized beauty tech features brands that leverage AR tools for virtual cosmetic try-ons

Some companies (like Mink and Ellure) allow customers to print their own makeup

Beauty tech features brands that leverage robotics for at-home devices

AI/ML is used for Big Data analysis, allowing companies to improve prediction capabilities for personalization

Beauty tech features brands that leverage biotechnology to create sustainable materials

Beauty tech features brands that leverage blockchain for supply chain transparency

Companies offer personalized recommendations and products based on individual attributes like skin and hair

Omy Laboratoires

About EDGE

Contact Us

Resources

Area of Focus

Technology Research Made Effortless