Gemma Labs Raises $2.75 Million in Funding
Premium beauty company Gemma Labs has raised $2.75 million in funding.
Gemma Labs, the parent company of direct-to-consumer hair care brand Gemmist, secured the funding from PSL Ventures and a handful of individual investors. It follows the $3.5 million raised in April of 2020.
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In a statement, Gemma Labs said the data-driven hair care brand has been well received since launch in September 2019, citing over $1.5 million in sales after just over a year on the market. Its offerings range from $25 to $45 in price and include a scalp bar, shampoo and conditioner, each of which can be customized by an online quiz. Gemmist will use this round of funding to expand its product range.
“I value the support of our partners to help us expand our product offerings for our loyal customer base, as well as reach more people who are at home in the months to come. With this round, we look forward to growing our product line and marketing efforts to continue building upon our early success,” said Allison Harr, chief executive officer of Gemma Labs, in the statement. Harr added that the brand has seen nearly 400 percent growth in new customers from 2019 to 2020.
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