SkinNinja, a skincare app that allows users to find out what ingredients their skincare products consist of, has raised $1m (£750,000) in funding.
The company, owned by Sciapps Ltd, matches publicly available expert evidence and research on health risks associated with more than 200,000 ingredients. Users are then alerted to possible health risks such as carcinogens or contact allergens.
To date, SkinNinja has raised $1.4m (£1m) and is valued at $4.5m (£3.4m).
The money raised through this Seed round will be used to continue developing the startup’s proprietary tech stack, including machine learning and AI, as well as to invest in key hires and expand the company’s B2B offering.
Jo Osborne, the founder and CEO of Sciapps, decided to build the app following her own battle with skin cancer.
European venture investment reaches all-time high
She said: “Sciapps is built on the foundation that no matter what someone’s budget, we all have a right to evidence and research which may impact our choices in what we apply to our skin.
“We believe technology is a force for change and greater good to this multi-billion-dollar industry and I am delighted to have found an investor and team who innately understand and support our mission. This investment will see the continued development to our proprietary technology stack, as well as investing in key hires and leading the expansion of our B2B business,” Osborne, who used to work at Google, added.
Voulez Capital is a European venture capital investment fund that specifically backs female founders.
Anya Navidski, the founder and CEO, said she was very proud to have backed SciApps as the fund’s inaugural investment.
“This company and its technology platform will bring much needed clarity, transparency and accountability to the skincare and personal products sector.
“We welcome Jo Osborne, SciApps founder and an outstanding entrepreneur, into the Voulez Tribe of female founders. She is a great example of how women can build great technology companies to tackle genuine problems and to create real value,” she concluded.