Kiki World, a beauty tech startup that aims to usher the cosmetics industry into the era of web3, announced today that it raised $7 million in an initial funding round. (Scroll down to view the full pitch deck.)
The round was led by New Incubation Ventures (NIV), a new venture capital division of The Estée Lauder Companies, and a16z crypto, an arm of Andreessen Horowitz focused on crypto and web3 startups.
This pairing, while unusual, gets to the heart of the collaborative, blockchain-powered vision that Kiki World’s founders have for innovation in the beauty industry.
“The next generation of brands won’t be people concocting things offline and then using the internet to sell things,” Jana Bobosikova, the startup’s co-founder and CEO, told ADWEEK.
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