MA-based 10Beauty Secures $38Million in Equity Funding. Shine Capital led this round. Prior fundraising rounds were headed by Red Sea Ventures, Lerer Hippeau, and Imaginary Ventures.
The money will be used by the company to grow both its operations and its clientele. 10Beauty is an intelligent beauty firm co-founded by Justin Effron and Alex Shashou that is revolutionising the delivery of beauty services through automation and robots.
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It hopes to introduce its first product, a fully automated manicure equipment fit for a salon, in the second half of 2024. It now employs about thirty engineers.
With the use of a smartphone app, users can personalise their manicures. Then, they can put their hands in the machine and let it take care of the polish removal, shaping, filing, cuticle removal, reapplication, and drying. The entire manicure procedure, depending on the customer’s schedule, takes about the same amount of time as a standard manicure.
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About 10Beauty
10Beauty Based in Burlington, Massachusetts, 10Beauty is creating the ultimate Intelligent Beauty enterprise by utilising robotics and automation to reinvent the way humans may communicate with machines at a service level.
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They have already pre-sold over $13 million in yearly manicure pod subscriptions to their first launch partners, and they are set to close on a $20 million Series B funding round (for a total funding of $40 million) in order to launch the first complete manicure machine in history late next year.
