THE WHAT? Symrise has announced that it will participate in a Series A funding round for Ignite Venture Studio.
THE DETAILS The transaction marks the beginning of a long-term partnership between the ingredients supplier and US-based accelerator for personal care brands and follows the joint investment into Sunday II Sunday in 2021.
THE WHY? The investment will allow Symrise to keep abreast of the current consumer needs and emerging trends in the beauty and wellness space. Jörn Andreas, President Cosmetic Ingredients, Symrise explains, “Ignite Venture Studio pioneers in building and accelerating beauty brands of the future. As the beauty and personal care industry continues to evolve, we are constantly looking for opportunities to gain deeper market insights and to drive product innovation. Symrise and Ignite Venture Studio have an excellent track record of creating successful collaboration projects. We look forward to continuing our work together to define the future of beauty.”