Junoco sustainable skincare landed a $6.3 million Series A led by Vision Plus Capital.
WHO: Junoco is a San Francisco-based sustainable skincare brand founded by serial entrepreneur Kyle Jiang and beauty giant Ipsy (now Beauty For All) first employee Mira Peterson. The brand is committed to the mission of leading the change towards a more sustainable future in beauty. Each product is created with sustainability at the core of its ideation, with simplified and intuitively sustainable formulas and products.
WHY: The funding will be used for product development and to upgrade their current collection to 80% refillable packaging.
IN THEIR OWN WORDS: Kyle Jiang, Co-Founder of Junoco, said, “This additional investment from Vision Plus and the Frees Fund will allow us to create more conversation around sustainability and inclusion. We are excited to lead change and significantly grow our green initiative, as well as spread the word.” message about our Skin Positivity Campaign, #ToBeHuman. Our mission is to inspire a more honest, transparent and positive revolution, not only for the beauty industry, but for all of humanity.”
Jasper Song, an investor at Vision Plus Capital, said: “We are delighted to support Kyle and the rest of the Junoco team as they bring their unique mission to the forefront of the skincare and beauty industry. using a supply chain to conceive and create the latest sustainable innovations, combined with Kyle’s passion for redefining the beauty space, makes us eager to help accelerate your future progress. It’s been amazing to hear your customers rave about the products they have already created, and all of us at Vision Plus Capital look forward to seeing them build a house from iconic materials to change beauty.”
DETAILS:
Junoco secured a $6.3 million Series A led by Vision Plus Capital with participation from Frees Fund. The company raised $2.7 million in a previous round from the Frees Fund and other individual investors bringing the total funding raised to date to $9 million. According to the brand, Clean 10 Cleansing Balm is a 10-ingredient cleansing balm that has sold more than 500,000 pieces in the first year of release. WWD reported that industry sources estimate that Junoco made more than $13 million in retail sales in 2021, and is on track to generate between $25 million and $35 million in 2022.
Source: beautymatter.com