PARIS — German fragrance and flavors supplier Symrise is taking part in a Series A funding round of Ignite Venture Studios, which creates and invests in start-up ventures linked to beauty, health and wellness. It is based in the U.S.
Terms of the investment were not disclosed.
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“By investing in Ignite Venture Studios, Symrise will expand its expertise in this market environment and grow alongside the creativity and speed of the personal care industry,” Symrise said in a statement Wednesday.
“The partnership will further enable the development of tailored fragrance and cosmetic solutions in accordance with the latest consumer trends,” continued Symrise.
Ignite Venture Studios develops early-stage personal care brands or invests in those that it considers having high-growth potential and the possibility of positively impacting consumers and the environment.
“The investment will allow Symrise to closely connect to the current consumer needs and growing trends within the beauty and wellness space,” the group said.
Symrise and Ignite Venture Studio jointly invested in Sunday II Sunday, the hair care brand created for active women, in 2021.
“Based on the ongoing success of Sunday II Sunday, Symrise aims to deepen its collaborative efforts with Ignite Venture Studio to drive innovation in product development and to learn from their direct experience with consumer trends,” said Symrise, which sets out to establish a long-term partnership.
“Ignite Venture Studio pioneers in building and accelerating beauty brands of the future. As the beauty and personal care industry continues to evolve, we are constantly looking for opportunities to gain deeper market insights and to drive product innovation,” said Jörn Andreas, president of cosmetic ingredients at Symrise.
“Working with Symrise as an investor as part of our financing round represents a perfect fit. Our two companies are committed to delivering impactful product innovation to brands with a sustainable focus,” said Josh Ghaim, managing director of Ignite Growth Brands.
“The collaboration will allow us to translate consumer insights into tailored formulations that address the latest trends and evolving consumer needs,” he added. “We look forward to this next chapter, beyond Sunday II Sunday, to unlock the potential of our portfolio of brands.”
Those brands also include Kadalys, Allwell and Layers.