The oversubscribed round was led by Selva Ventures, a previous investor that the brand has been working with the last two years, with participation from Plus Capital; Unilever Ventures; Able Partners; Brazilian American model, designer and“We knew that we could utilize more resources to fuel the company’s growth, so we actually went around and talked to several investors, and luckily, we got several term sheets,” said cofounder, chief executive officer and Ph.D. Carolina Reis de Oliveira.
According to Zonari, continued research could result in new ingredient findings and formula updates, though it’s early days. In terms of future product, the brand plans to expand across skin and body care — it recently launched its Triple Power OS-01 Body SPF, $54. The team also hinted that an adjacent category is on the horizon.