Stepping up: Lillycover to expand into hair care and make-up this year following $4m fundraise

By Amanda Lim contact

- Last updated on GMT

 Lillycover has announced plans to launch personalised scalp and make-up products this year. [Lillycover]
Lillycover has announced plans to launch personalised scalp and make-up products this year. [Lillycover]

Related tags: Personalisation

Seoul-based personalised beauty start-up Lillycover has announced plans to launch personalised scalp and make-up products this year after raising U$4m in Series A funding.

The funding round, held late August, was led by POSCO Capital, TBT Partners, IBK and KITE Entrepreneurship Foundation.

Founder and CEO SunHee An told CosmeticsDesign-Asia​ that the funding it received was “more than we expected” ​and that it would be using the new funds to expand its business.

She elaborated that the funding will help the company in “stepping up efforts”​ to improve its products and services.

We will use the funding to expand Lillycover’s overall business, especially for the smart factory system for manufacturing customised products in small quantity as it needs to be advanced to have a mass production system,” ​she said.

Founded in 2016, Lillycover specialises in personalised beauty and is one of the five start-ups selected to join Beiersdorf-backed beauty acceleration program, Nivea Accelerator (NX).

An, a computer engineering graduate with experience in the medical field, developed MUILLI, a smart skin care device.

MUILLI works with big data and artificial intelligence algorithms to understand their skin type. Based on this analysis, consumers can receive fully customised skin care products on a subscription service.

The company also developed ENIMA, a custom cosmetics kiosk that is fitted with a robotic manufacturing system.

Lillycover also owns BalanX, a skin care brand that ties up with the ENIMA manufacturing system, allowing consumers to receive tailored products that are freshly made and delivered on the spot.

Product expansion on the way

With the funding, the company is intending to expand its product offering and introduce new product categories as well.

Currently, the company only offers two customised skin care products under the Balanx label – a lotion and an essence.

An revealed to us that the firm was set to launch an exciting list of personalised beauty products this year.

For a start, Lillycover with be expanding its skin care range and introducing scalp care this fall. By the end of this year, the firm intends to launch a colour cosmetics range as well.

“We are currently working on the products for the scalp to include customised shampoo and hair tonic as well as skin and toner for facial skin care. In winter, we plan to expand our current product line-up to cosmetics with customised foundation products.”

In addition, the company will be looking to increase its manpower and invest in marketing both locally and globally.

The company said it would be actively exploring opportunities in foreign markets such as Japan, China and South East Asia.

“We will continue to develop and provide a regular subscription service based on big data and artificial intelligence algorithms. We look forward to leveraging NX’s global network and resources to help fuel our business,” ​said An.

Previously, CosmeticsDesign-Asia reported​ that Lillycover is aspiring to tap into what it believes is a global demand for personalised beauty and that it would be interested in entering the European market.

Related news

Show more

Related products

RESTORING FACIAL HARMONY

RESTORING FACIAL HARMONY

Lubrizol Life Science | 23-May-2022 | Product Presentation

Telophi™ biotech ingredient is a biotechnological extract that protects telocytes and proliferating epidermal stem cells from psychological stress to preserve...

Caressense™ biofunctional, powering ageless beauty

Caressense™ biofunctional, powering ageless beauty

Ashland Global Holdings Inc | 01-May-2022 | Data Sheet

For the first time, Ashland researchers reveal a natural bioactive that can activate skin’s sensors of touch, the piezos, to release “feel-good” and anti-aging...

中国化妆品与个人护理

中国化妆品与个人护理

Eurofins Cosmetics & Personal Care | 24-Feb-2022 | Product Brochure

欧陆检测技术(深圳)有限公司
欧陆科技集团产品测试实验室 具有领先的技术和先进的设备 设施。我们致力于提供最具成 本效益和最高质量的测试,结 合高效的时间安排和完善的 最终报告,恪守客户至上的服 务承诺。我们的实验室通过了 ISO 17025认证,为在中国进行 采购的国际买家提供各种不...

Related suppliers

Follow us

Products

View more

Webinars

Indie Pioneers Podcast

Indie Pioneers Podcast