Luum Precision Lash has announced it has secured funding from several investors including Ulta Beauty, Foundation Capital, Artifact Ventures, Ascendant Venture, Handshake Ventures, SaxeCap and XSeed Capital. The investment amount was not disclosed.
Luum will use the funds to build its next-generation machine for a soon-to-be-announced pilot program with one of the Top 5 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.
Nathan Harding, CEO and co-founder, Luum, said, "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. 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.”
Prama Bhatt, chief digital officer, Ulta Beauty, said, "Our support for Luum reinforces Ulta Beauty’s belief in the critical role advanced technologies such as robotics play in the future of 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.”