California, USA-based inclusive beauty e-commerce destination thirteen lune closed its seed plus investment round at USD 8 million. The company announced the closure on January 19, 2023. The BrainTrust Fund led the financing for the firm. Kendra Bracken-Ferguson and Lisa Stone leads The BrainTrust Fund. It makes early-stage venture investments identified via BrainTrust Founders Studio, the largest platform for Black founders of beauty and wellness companies.
Purpose of funding for thirteen lune
With the latest financing from the Seed Plus proceeds, thirteen lune seeks to drive its omnichannel approach. It also aims to support brick-and-mortar, experiential retail and Relevant: Your Skin Seen brand expansion.
So far, the company’s total funding stands at USD 12.5 million in total funds raised. With this seed plus investment, thirteen lune aims to reach profitability in 2023.
Moreover, in 2023, thirteen lune plans to continue expanding into 600 JCPenney locations nationwide. It also has plans to open its own flagship store in Los Angeles.
What the company’s founders have to say
Nyakio Grieco, thirteen lune Co-Founder, said, “As a 20+ year Black beauty entrepreneur, it’s an honour to shape the landscape of inclusive beauty, acting as an agent of change for BIPOC brand founders to receive recognition and opportunity. Our partners share thirteen lune’s mission to support diverse founders who have historically had fewer resources and opportunities to build a business and create generational wealth.”
In addition, Patrick Herning, thirteen lune CEO and Co-Founder said, “Since the launch of thirteen lune in 2020, we’ve proven that inclusivity and scalability are not mutually exclusive. We’re on a mission to inspire the discovery of BIPOC-founded brands for people of all colours and backgrounds. We enter 2023 continuing to lead with intention and authenticity that will position us to continue our growth and momentum.”
About the company
Nyakio Grieco and Patrick Herning launched the company in 2020. The inclusive beauty e-commerce destination is first of its kind e-commerce destination designed to inspire the discovery of beauty brands created by BIPOC founders that resonate with people of all colours. The company received recognition in the form of top industry awards, such as Fashion Group International’s 2022 Rising Star Award for “New Retail Concept” and WWD Beauty Inc.’s 2021 Newcomer of the Year Award.
Fearless Fund, Capstar Ventures, Sean (Diddy) Combs, Gwyneth Paltrow, Hannah Bronfman and Naomi Watts provided the initial investments to the firm.
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