Omy, a Montréal, Canada-based artificial intelligence (AI) beauty lab, raised $11 million CAD in Series A, bringing its total raised to over $13 million to date.
The round was led by Crédit Mutuel Equity, with participation from Fondaction, BDC Capital’s Thrive Venture Fund, and Accelia Capital. Omy said the company plans to hire 23 people this year.
The funding will allow the company to expand its current headcount of about 40 people and acquire new production equipment to “roll out its product line in North American markets.”
In collaboration with dermatologists, Omy has developed an AI-powered virtual skin consultant, which is able to conduct consultations with users to find the best ingredients for their skincare products.
Omy’s AI tool is one of several consultation methods the startup offers. The company's products are currently sold at select beauty salons across Québec and New Brunswick.
Company: Omy Laboratoires
Raised: CAD$11.0M
Round: Series A
Funding Month: April 2023
Lead Investors: Crédit Mutuel Equity
Additional Investors: Fondaction, BDC Capital’s Thrive Venture Fund, and Accelia Capita
Company Website: https://omycosmetics.com/
Software Category: AI-powered Virtual Skin Consultant
About the Company: Founded by Andrea Gomez and Rachelle Séguin, Omy is an AI beauty lab that uses a combination of cosmetic chemistry and AI technology to provide personalized skincare products made entirely from vegan ingredients. Omy's skin analysis technology allows customers to upload a photo to their website and receive an analysis of four skin parameters: wrinkles, pigment spots, redness, and pores. Based on this analysis, Omy recommends a selection of ingredients that are ideal for the customer's unique skin needs. The company's mission is to understand each human as a whole and to offer them responsible, healthy, and personalized topical care at every stage of their life.
Source: https://betakit.com/ai-beauty-lab-omy-raises-11-million-cad-to-expand-personalized-skin-care-product-line-in-north-america/