Deals
Beauty Brand Loved By Social Media Users Il Makiage Acquires Tech Start-up Voyage81
One of the most hyped beauty brands of the year, Il Makiage, has acquired computational imaging start-up Voyage81 in a move that will strengthen its AI capabilities.
The colour brand, now a social media sensation with more than 900k followers on Instagram, has been hailed for its match-perfecting foundations, due to its online algorithms.
Customers can find their ideal foundation by taking a short quiz via the brand’s website.
However, with its new AI-based start-up on board, and US$40m investment, Il Makiage expects to take its current algorithms one step further.
Voyage81’s Hyperspectral Imaging Systems are capable of mapping and analysing features on the skin and hair, including facial blood flows and creating melanin and hemoglobin maps from one photo.
This technology will allow beauty shoppers to make more informed decisions when buying products.
“For the past two years, we have been searching for computational imaging solutions that can work in beauty and wellness to further advance our existing AI capabilities,” said Il Makiage’s CEO Oran Holtzman.
“I have met dozens of computer vision startups but could not find a technology that can fit our industry and was strong enough to fulfill our goals.
“Bringing on Voyage81’s patented technology and exceptional team to our tech and data science departments is a huge win for our company's future, our users, and the industry at-large.”
Meanwhile, Voyage81’s co-founder and CEO, Niv Price, added: “When we met Oran, we were focused on our own rapid growth trajectory with no plans at all to sell.
“In fact, we just finished round A funding and were already working with the largest smartphone manufacturers in the world.
“But after meeting Oran and learning about the company’s long-term vision, we realised that under the Il Makiage platform, Voyage81 technology will serve and benefit hundreds of millions of consumers, fulfilling our founding goal.”
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