FOREO

FOREO is the world's leading beauty-tech brand, founded in Stockholm, Sweden in 2013. Through these wild 9 years, FOREO has served more than 20 million customers, launched in 12,000 doors and 500 retailers, winning 261 awards (45 of those in 2021) along the way. From two employees at the very beginning, we've grown to over 3,000 beautiful people scattered through 22 offices worldwide. FOREO is not your traditional beauty company, but a brand built on innovation, visionary problem solving, and successful and unsuccessful - experiments. Only by taking risks can one create unprecedented and unique solutions celebrating individuality, diversity, and inclusiveness. We want to cater to that new society, moving away from hoarding ''stuff'' and investing in experiences that enhance wellbeing. We design for those who are looking for a precious few essentials built to last and who value utility, quality, and durability. Sitting at the top of the redefined beauty-tech industry, we keep succeeding because we’re still fighting for the same dream - the fusion of visionary technologies & award-winning sleek Swedish design. We break new ground and disrupt beauty standards, always curious about how things can be done better. We are the game-changers & the rule-breakers passionate about building a new world with integrity and purpose, improving selfcare - for everyone!

FOREO is a Swedish startup that offers a range of at-home skin care devices called “Luna” along with other products such as face masks, cleansers, etc. The company’s personalized offering is the “Luna fofo” device that works as a two-in-one facial massager and a cleanser. The device analyzes skin conditions using advanced sensors as well as the surrounding environment to develop a personalized routine. The routine provides customized levels of intensity and duration and is operated and monitored via mobile app synced to the Luna fofo device.

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

Beauty Tech

FOREO is a Swedish beauty-tech company that develops innovative personal care devices utilizing cutting-edge technologies like T-Sonic pulsations, LED therapy, microcurrent, and radio frequency treatments. Founded in Stockholm in 2013 by Filip Sedić, FOREO has revolutionized the skincare industry with its award-winning products, such as the LUNA facial cleansing brushes and ISSA electric toothbrushes.

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Hygiene Tech

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FOREO is a Swedish startup that offers a range of at-home skin care devices called “Luna” along with other products such as face masks, cleansers, etc. The company’s personalized offering is the “Luna fofo” device that works as a two-in-one facial massager and a cleanser. The device analyzes skin conditions using advanced sensors as well as the surrounding environment to develop a personalized routine. The routine provides customized levels of intensity and duration and is operated and monitored via mobile app synced to the Luna fofo device.FOREO offers a range of at home skincare devices, available for outright purchases, with prices ranging at USD 149–458. FOREO does not test its products on animals and offers a recycling program for its products.Key customers and partnershipsFOREO was present in over 80 countries as of January 2024 catering to over 20 million customers. The company leverages partnerships with retailers such as Sephora, Ulta, Nordstrom, and Target for the sale of its beauty tech devices. As of December 2020, FOREO’s devices were available across over 10,000 retail locations. In November 2022, Foreo partnered with Bon Voy, a developer of beauty bags, to create a limited-edition toiletry bag, and Hit the Hay, a Swedish developer of bedding products to provide their products as a bundle offer.

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.Funding and financialsIn December 2020, the company raised USD 150 million in series B funding led by L Catterton. The funds were to be used to scale-up operations.

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.Funding and financialsThe company has reported annual top-line growth of 350% each year leading up to January 2020.

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

FOREO is a Swedish beauty-tech company that develops innovative personal care devices utilizing cutting-edge technologies like T-Sonic pulsations, LED therapy, microcurrent, and radio frequency treatments. Founded in Stockholm in 2013 by Filip Sedić, FOREO has revolutionized the skincare industry with its award-winning products, such as the LUNA facial cleansing brushes and ISSA electric toothbrushes.
FOREO's signature products combine sleek design with advanced solutions for various skin concerns, including facial cleansing, massage, anti-aging treatments, body care, oral care, acne treatment, and hair removal. The company's patented technologies, like its medical-grade silicone material and T-Sonic technology, set its products apart. As of March 2023, FOREO held over 100 patents and 70 registered trademarks.
One of FOREO's standout offerings is the BEAR device, which utilizes microcurrent and T-Sonic pulsations to tone and firm the skin, relax facial muscles, and smooth fine lines and wrinkles. The UFO, another innovative product, is a 90-second masking device that uses various LED lights to enhance the efficacy of FOREO's Power Activated Masks, offering customized masking treatments with thermo-therapy and cryo-therapy functions.
FOREO's products are distributed through a mix of owned channels, such as its website and the FOREO For You app, as well as independent retailers like Sephora, Galeries Lafayette, and Bloomingdale's. The company has embraced a digital-first marketing approach, utilizing influencer marketing and social media platforms like TikTok to expand its global reach.
Key customers and partnerships
FOREO's innovative beauty-tech devices have garnered a loyal following among consumers and influencers alike. The brand has been endorsed by several high-profile celebrities and influencers, including Huda Kattan, Kim Kardashian, Jessica Alba, Paris Hilton, Cindy Crawford, Victoria Beckham, Chrissy Teigen, and Venus Williams, among others. These endorsements have helped FOREO establish itself as a prominent name in the beauty industry.
Additionally, FOREO has secured partnerships with various media outlets and platforms, further amplifying its reach. The brand's products have been featured on popular TV shows and YouTube channels, such as Star Wars, The Ellen DeGeneres Show, the Spanish Netflix series Valeria, Good Morning America, the Korean Netflix show The Secret Life of My Secretary, and the popular Mexican YouTube show La Mas Draga.
Through its collaborations with influencers and media platforms, FOREO has successfully introduced its cutting-edge beauty-tech devices to a global audience, cementing its position as a trailblazer in the industry.

Mojix is a leading supply chain SaaS platform that provides item-level inventory management and traceability solutions. The company's cloud-based platform modernizes inventory and asset management, facilitating omnichannel order fulfillment, increasing operational efficiency, improving inventory accuracy, and enhancing the customer experience. Mojix's solutions leverage unique digital identities assigned to individual products, enabling complete product lifecycle visibility from origin and manufacturing through distribution centers, stores, and even post-sale.
Mojix's item-level traceability capabilities track billions of unique identities, following item lifecycles from source to shelf. The company's platform collects event data whenever an item's status changes, streaming it into the Mojix platform for processing along a lifecycle data model. This allows users to access real-time status and history of any item, with superior visibility and accuracy exceeding 99%.
Founded in 2004 and headquartered in Austin, Texas, with offices across the US, Europe, and South America, Mojix serves leading clients from diverse industries, including food & beverage, luxury brands, manufacturing, industrial, aerospace & defense, and retail. In May 2022, Mojix was acquired by an affiliate of Peak Rock Capital, a leading middle-market private investment firm, providing growth capital to accelerate Mojix's product roadmap, organic growth, and strategic acquisitions.
Key customers and partnerships
Mojix and its partner Coriel, a systems integrator specializing in RFID, IoT, and Industry 4.0 solutions, were selected by Tosca, a global provider of reusable container solutions for the food industry, to implement an RFID-based traceability solution across Tosca's European sites as of January 2023. The SaaS-based solution enables real-time, item-level visibility of Tosca's reusable pallets and containers, reducing waste from asset loss, optimizing asset management through increased rotations, and improving service quality for Tosca's customers.

Mojix

Alen Corporation, founded in 2005 and based in Austin, Texas, is a leading manufacturer of high-quality air purifiers. The company's flagship product line, the BreatheSmart series, includes models like the 75i, 45i, and FLEX, designed to clean air in spaces ranging from 700 to 1,300 square feet. Alen's air purifiers utilize True HEPA H13 filters, which can capture 99.99% of airborne particles as small as 0.1 microns, including dust, allergens, pollen, pet dander, mold spores, and bacteria.
The BreatheSmart purifiers feature advanced technology such as laser sensor-based air quality detection, auto-adjusting fan speeds, and color-coded LED rings to indicate air quality levels. Alen's units are known for their quiet operation, with noise levels as low as 25 decibels.

Alen

ECOVACS is a leading global company specializing in intelligent home robotics and cleaning solutions. Its product offerings include DEEBOT robotic vacuum cleaners, WINBOT window and surface cleaners, and AIRBOT air purifiers. ECOVACS has integrated cutting-edge technologies such as LiDAR, artificial intelligence, and vision sensors into its products to enhance cleaning efficiency and automation.
The DEEBOT X2 OMNI, launched in September 2023, represents a revolutionary robotic vacuum cleaner with a square design capable of reaching corners and edges. It features a 20 cm main brush, advanced navigation through Dual-Laser LiDAR and AI, real-time video call capabilities, and an impressive 8,000 Pa suction power. The OMNI Station allows self-cleaning, hot water washing, and drying of mopping pads, ensuring a hygienic cleaning experience.
In October 2022, ECOVACS unveiled the GOAT G1 robotic lawn mower, employing Robotic Vision technology to map lawns and boundaries without complex setup. The DEEBOT PRO, a commercial floor cleaning robot designed for large spaces, leverages HIVE shared intelligence across multiple robots for efficient mapping and cleaning.
With a history spanning over 20 years and operations in more than 60 countries, ECOVACS has established a strong global presence, particularly in Asia, Europe, and North America. By the end of 2022, Chinese robot vacuums, including ECOVACS, captured nearly 50% of the overseas market share.

Ecovacs

Therabody is a global pioneer in wellness technology, offering a range of innovative products and services to promote healthy living. The company's flagship product, the Theragun, is a percussive therapy device designed to alleviate pain and improve muscle recovery. Therabody's Theragun lineup includes various models, such as the Theragun Elite, Theragun Prime, and Theragun Mini, each with different speed settings, amplitude, and attachments to target specific muscle groups.
Therabody's technology utilizes percussive therapy, delivering quick, repeated strikes to the body to trigger blood vessels to dilate, increase circulation, and release muscle knots. The devices feature ergonomic designs, allowing for multiple grip options and ease of use. The brand has expanded its offerings beyond massage guns, introducing products like RecoveryAir pneumatic compression boots, PowerDot electrical stimulation devices, and TheraFace facial health devices.
In September 2022, Therabody raised USD 165 million in a growth equity round, valuing the company at over USD 1 billion. This funding allowed Therabody to further invest in hardware, software, services, and digital content, solidifying its position as a leader in the wellness tech industry. As of February 2024, the company offers its products in more than 60 countries and has nearly 600 granted patents globally, with over 200 more patent applications pending.
Key customers and partnerships
Therabody's customer base spans various industries, including professional and collegiate sports teams, fitness enthusiasts, and individuals seeking relief from muscle tension and pain. The company has partnered with several high-profile athletes, such as Kevin Hart and Aaron Rodgers, who have invested in the brand and promoted its products.
In February 2022, Therabody announced plans to expand its physical presence with the launch of Reset, a chain of whole-body wellness centers offering a range of services, including cryotherapy, light therapy, and hyperbaric chambers. By July 2022, the company aimed to have 22 physical locations, including Reset centers and standalone retail stores, across major US cities like Los Angeles, New York, Chicago, and Houston.

Therabody

Xenex Disinfection Services is a pioneering company that provides advanced UV disinfection technology to healthcare facilities worldwide. Their flagship product, the LightStrike robot, utilizes intense bursts of broad-spectrum pulsed xenon UV light to rapidly destroy pathogens on surfaces, including multi-drug resistant organisms like MRSA, C. diff, and VRE. This technology is scientifically proven, with over 45 peer-reviewed studies validating its efficacy in reducing pathogen transmission.
The LightStrike robots are designed to complement manual cleaning processes by disinfecting areas that may be missed during routine cleaning. They are effective against a wide range of viruses, bacteria, and spores, making them a valuable addition to healthcare facilities' infection prevention strategies. The company's patented technology is protected by 193 patents and has been deployed by over 1,000 hospitals worldwide.
Xenex's innovative approach has gained recognition from leading healthcare institutions such as HonorHealth, Mayo Clinic, MD Anderson, Ochsner Health, and Texas Health Resources, which have integrated the LightStrike robots into their disinfection protocols. The company's commitment to scientific evidence and a mission to improve global health has been the driving force behind its success.

Xenex

Technological devices used to keep an individual clean, specifically their body, teeth, and clothing to prevent illness and diseases.

Technological products and devices related to balancing a female's vaginal flora to prevent infections and vaginal diseases.

Technological equipment and devices used to keep an individual's house (such as domestic items, the air, and surfaces) clean to prevent illness and diseases.

Technological equipment and solutions that can be used in an industrial or domestic setting to control biological food hazards (such as microbes and bacteria) and to ensure food safety and quality for human consumption, preventing diseases and illness.

Technological equipment and devices used to ensure clean air, sanitation, and hygiene in public places to prevent illness and diseases.

Uses IoT for sensors and data gathering in both public environments and for personal hygiene

Provide solutions for environmental hygiene—can be used in smart cities for health and safety purposes

FOREO

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