LUUM Precision Lash Closes Funding Round with Strategic and Institutional Investors
First-ever lash robot technology finishes funding round with notable portfolio of investors
LUUM Precision Lash, the world’s first artificial-intelligence-powered robotic technology designed specifically for the application of lash extensions, announced it has secured funding from several notable investors including Ulta Beauty, Foundation Capital, Artifact Ventures, Ascendant Venture, Handshake Ventures, SaxeCap, and XSeed Capital. This investment round follows the successful close of a crowd-funding campaign for LUUM on the Start Engine platform earlier this year.
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“This round of support from investors such as Ulta Beauty strongly signals our evolution as we bring our robotics one step closer to wide-spread availability,” said Nathan Harding, CEO and co-founder, LUUM. “The entire LUUM team is excited about the enthusiastic response from the investor community as well as our crowd-funders. We remain committed to our mission of bringing the worlds of beauty and advanced-AI closer together for better consumer experiences.”
Oakland-based LUUM will leverage this latest round of support to build its next-generation machine for a soon-to-be-announced pilot program with one of the top five leading U.S. cosmetics brands. The company is planning for additional rounds of funding and exciting partnerships in the near term to support its rapid growth.
“Our support for LUUM reinforces Ulta Beauty’s belief in the critical role advanced technologies such as robotics play in the future of beauty,” said Prama Bhatt, Chief Digital Officer, Ulta Beauty. “Our teams are incredibly interested in exploring more technologies that amplify beauty experiences for our consumers and in funding LUUM, we believe we are supporting yet another exciting industry advancement.”
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LUUM is revolutionizing the multi-billion-dollar eyelash extension industry with precision robotics and AI, creating an entirely new category — Beauty Experience Automation. LUUM’s technology will upgrade the booming but painstaking eyelash extension service offered by salons worldwide, making it 3X faster, while offering a more luxurious and consistent experience and allowing salons to triple their throughput and revenues. LUUM will launch commercially with a top-5 cosmetics retailer in 2022, and has received investment from #1 beauty retailer, Ulta Beauty. In addition to a robust global patent portfolio and a high-profile list of angel and institutional investors, LUUM touts a Net Promoter Score of 82 from customers, a 5-star review from PopSugar magazine.
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