Motivated by his own issues with skin disorders, tech founder Daniel Jensen chose there had to be a better way. So, using an internal tech platform, his Copenhagen-based start-up Nøie developed its own database of skin profiles to better take care of delicate skin.
Nøie has now raised $12 million in a Series A funding round led by Talis Capital, with involvement from Inventure, as well as existing investors including Thomas Ryge Mikkelsen, former CMO of Pandora, and Kristian Schrøder Hart-Hansen, previous CEO of LEO Pharma’s Innovation Laboratory.
Nøie’s tailored skincare products target sensitive skin problem consisting of acne, eczema and psoriasis. Using its own R&D, Nøie says it evaluates countless skin care products on the market, picks what it thinks are the best, and uses an algorithm to assign customers to their “skin family”. Clients then get suggestions for personalized products to fit their skin.
Skin+Me is probably the best-known viewed rival, but this is a prescription company. Nøie is non-prescription.
Jensen stated: “We firmly think that the most significant competitors is the broader skin care market and the consumer habits that features it. I really think that in 2030 we’ll be shocked that we ever entered into a store and got a one-size-fits-all product to combat our skin care problems, based on what has the nicest product packaging or the best marketing. In a sense, any new business that emerges in this space are peers to us: we’re all collaborating to intrinsically change how individuals pick skin care products. We’re all showing to individuals that they can now get highly-personalized products based upon their own skin’s particular requirements.”
Of his own problems to discover the ideal skincare supplier, he said: “It’s just exceptionally difficult to find something that works. When you take a look at innovation, online, and all our apps and everything, we got so wise in many areas, however not when it concerns customer skin products. I think that in 5 or ten years down the line, you’ll be chuckling that we really utilized to simply go in and get products simply off the rack, without knowing what we’re supposed to be utilizing. I believe everything we will be utilizing in the bathroom will be customized.”
Beatrice Aliprandi, principal at Talis Capital, stated: “For too long have both the dermatology sector and the skin care industry counted on the out-of-date ‘‘ one-size-fits-all’ method to resolving chronic skin conditions. By rather taking a data-driven and community feedback technique, Nøie is constructing the next generation of skin care by providing total customization for its consumers at a huge scale, pioneering the next revolution in skincare.”
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.
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