Oddity, the parent company behind beauty brands Il Makiage and Spoiled Child, has made its largest acquisition to date, investing more than $100 million to acquire biotech startup Revela and open a U.S.-based lab in Boston. This move is aimed at revolutionizing the beauty and wellness industry by designing new molecules to target cosmetic pain points such as hair loss and aging.
Revela, which has already developed two novel molecules, ProCelinyl and Fibroquin, will bring its team of scientists to Oddity to create brand-new molecules that will be used in existing Il Makiage and Spoiled Child products, as well as future lines. ProCelinyl is a hair growth booster that can also be used on lashes and eyebrows, while Fibroquin is an anti-aging ingredient that rivals the benefits of retinol without its side effects.
Oddity's use of AI-based molecule discovery, which is common in pharmaceutical drug development, will help it develop new molecules that specifically address consumers' pain points. The company hopes to leverage its new technology to create products that are more effective than what is currently on the market.
Oddity's acquisition of Revela is just the latest example of how technology is transforming the beauty industry. With the rise of AI and machine learning, beauty companies are able to create personalized products and provide tailored recommendations to customers. This technology is also helping companies like Oddity to develop more effective products by analyzing data and creating new molecules that are specifically designed to address consumers' needs. In addition to Revela, Oddity is also investing $25 million to open Oddity Labs in Boston. The lab will house a team of scientists who will work on developing new molecules that can be used in future products.
Oddity's acquisition of Revela and its investment in a new lab show the company's commitment to innovation and its belief that technology can transform the beauty industry. By developing new molecules that are specifically designed to address consumers' pain points, Oddity hopes to set itself apart from the competition and become a leader in the beauty and wellness space.
In conclusion, Oddity's acquisition of Revela and its investment in a U.S.-based lab show the company's commitment to innovation and its belief in the power of technology to transform the beauty industry. With the help of AI-based molecule discovery, Oddity hopes to create more effective products that specifically address consumers' pain points, such as hair loss and aging. By doing so, Oddity is positioning itself to become a leader in the beauty and wellness space, and to continue to innovate in the years to come.
