LUMASOL Grabs $3M in Seed Funding
LOS ANGELES, CA, LUMASOL the closing of $3 million in seed funding from Pathfinder at Founders Fund and Greycroft Ventures.
Sophia Hutchins, CEO, and founder of LUMASOL, a health technology company aimed at bringing sustainable and innovative health and technology products to market, after the closing of $3 million in seed funding from Pathfinder at Founders Fund and Greycroft Ventures.
"Sophia has deep knowledge of the suncare space and a clear vision for a product that will appeal to health and beauty-conscious consumers."
LUMASOL is an FDA-approved recyclable product that will change the way we view, use and interact with SPF. It protects from 98% of UVA and UVB rays. Additionally, the product's packaging- integrates technology which alerts the consumer of UV exposure thus prompting for application and most importantly, re-application of SPF by making the process fun and extremely user-friendly.
"The sun is an important part of our lives, and we should be able to enjoy it in a healthy, fun, and safe way. I am beyond honored and humbled to have gained the confidence and trust of some of the best investors in the world. As a 22-year-old (at the time I closed the round) founder and CEO, of a multimillion-dollar pre-product valued company is an incredible feeling," says Hutchins.
"Founders Fund exists to back exceptional founders, and after my first meeting with Sophia I had no doubt that she would make this company a success," said Cyan Banister, Partner at Founders Fund. "Sophia has deep knowledge of the suncare space and a clear vision for a product that will appeal to health and beauty-conscious consumers."
The company addresses the major problem of reapplication within the SPF landscape. For those that wear makeup, the reapplication is further complicated by forcing the choice of not wearing cosmetics so that reapplication of SPF is possible, or only applying once in the morning under makeup. Undoubtedly there is a need for a sunscreen product that would still allow for a flawless make-up application even after re-applying throughout the day.
About Sophia Hutchins
Knowing that more than 3 million Americans are affected each year by nonmelanoma skin cancer each year, Hutchins while majoring in economics at Pepperdine set out to create a solution for the extraordinarily unaddressed issue of sun protection at the age of 22. Hutchins is an outspoken advocate for women and equality in the workplace. People can often find her speaking to groups within corporate America and her favorite of all groups to speak with are entrepreneurial women.
LUMASOL, set to launch in the spring of 2020 is completely reimagining the way consumers, buy, reapply and think about SPF. The product's iconic dispenser enables a tech-driven approach to ensuring that UV application is seamless and accessible for any lifestyle, anywhere. The company is rooted in the belief that personal health shouldn't be burdensome and has set out to revolutionize the way the world views health and beauty by bringing innovative, tech-driven solutions to enhance the user experience.
The company's diverse team of innovators and problem-solvers aims to deliver an exceptional experience ensuring your time in the sun is as bright as it should be, without compromise.
Pathfinder is an early-stage investment vehicle of Founders Fund, a venture capital firm investing in science and technology companies solving difficult problems. The firm and its partners have been early backers of some of the most impactful companies of the past decade, including SpaceX, Palantir, Facebook, and Airbnb. Founders Fund pursues a founder-friendly investment strategy, providing maximum support with minimum interference.
Greycroft is a seed-to-growth venture capital firm that partners with exceptional entrepreneurs to build the world's most transformative companies. We have deep experience in both consumer and enterprise technology and have made over 300 investments, including Acorns, Bird, Huffington Post, Icertis, Plated, Scopely, Shipt, TheRealReal, Thrive Market, Trunk Club, and Venmo.
>> Click here for in-depth research on 9,000 startups and 5,000 VC investors
(c)2011-2020 by Massinvestor, Inc. For contact info, please check out our about