"We are big fans of differentiated direct-to-consumer products run by growth minded-founders. Formulate is a very, very unique product experience, and the founder has a very, very unique passion for growing the business, that make us very excited for this business" Jason Calacanis, angel investor
SAN FRANCISCO (PRWEB) December 03, 2020
Formulate, the “chemist to consumer” service and customized personal care brand, today announced it has completed a $1.4M Seed round of financing led by noteworthy angel investors including Jason Calacanis and his Syndicate.
The investment enables the company to launch a new US-based expanded manufacturing facility scaled to meet Formulate’s growing demand fueled by exceptional reorder rates. In addition, Formulate plans to expand its product line and enhance its revolutionary PMaaS (Personalized Manufacturing as a Service) platform that assembles and delivers true customized one-to-one formulas from the ground up instead of using standard bases like other “customized” hair and skin care companies.
“Made-to-order and customized personal care products will be ubiquitous in the next few decades as we shift away from wasteful mass-production and ineffective one-size-fits-all,” said Osmaan Shah, Co-Founder, CEO. “Our customers are paired with a chemistry team to dial in the optimal formulas and routine over time. The correct amount of every ingredient is delivered to each individual, resulting in an improvement to overall hair and skin health.”
Formulate currently offers customized shampoo and conditioner that addresses the distinctive hair and scalp needs of each customer. Its PMaaS platform understands a broad array of personal and environmental inputs to create a true customized formulation. Every customer is then matched with a personal chemist that is available through their mobile app to answer questions and make formulation adjustments over time based on feedback. In addition, Formulate’s innovative manufacturing platform allows customers to have their allergies or sensitivities excluded from their bespoke formulas - a game changer for consumers with sensitive skin and skin allergies.
“Scientists, researchers, chemists and consumers are relentlessly frustrated by the marketing gimmicks that plague the personal care and beauty space. Customers are bombarded with misinformation and are led into a never-ending cycle of trying new products and routines,” said Tammy Lisi, Co-Founder, Chief Scientist. “Our goal is to bring customers directly to chemists that will customize and evolve their products – ending the guess and test process, reducing waste, and once and for all solving long-standing issues with hair and skin care.”
The financing builds on an exceptional year for Formulate which has seen its business triple since March.
"We are big fans of differentiated direct-to-consumer products run by growth minded-founders. Formulate is a very, very unique product experience, and the founder has a very, very unique passion for growing the business, that make us very excited for this business."
Jason Calacanis, angel investor
Formulate, a US-based company, currently offers customized shampoo and conditioner. Customers initially complete an online survey, and are then paired with a formulation chemist that answers questions and can adjust the formula iteratively, over time. Its innovative manufacturing platform delivers individualized formulas at scale. For more information visit http://www.formulate.co