January 11, 2023
(press release)
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Symrise will participate in the Series A funding round of Ignite Venture Studio. The US-based company creates and invests in global innovative start-up ventures associated with beauty, health and wellness. By investing in Ignite Venture Studio, Symrise will expand its expertise in this market environment and grow alongside the creativity, and speed of the personal care industry. The partnership will further enable the development of tailored fragrance and cosmetic solutions in accordance with the latest consumer demands. Ignite Venture Studio contributes a proven track record in developing early-stage personal care brands or investing in those with high-growth potential and that positively impact the environment and consumers. The investment will allow Symrise to closely connect to the current consumer needs and growing trends in the beauty and wellness space. A strong partnership with existing strategic projects The transaction intends to establish a long-term partnership with Ignite Venture Studio. It follows the joint investment into Sunday II Sunday in 2021, an innovative textured hair care brand. Based on the ongoing success of Sunday II Sunday, Symrise aims to deepen its collaborative efforts with Ignite Venture Studio to drive innovation in product development and to learn from their direct experience with consumer trends. Dr. Jörn Andreas, President Cosmetic Ingredients, Symrise explains: “Ignite Venture Studio pioneers in building and accelerating beauty brands of the future. As the beauty and personal care industry continues to evolve, we are constantly looking for opportunities to gain deeper market insights and to drive product innovation. Symrise and Ignite Venture Studio have an excellent track record of creating successful collaboration projects. We look forward to continuing our work together to define the future of beauty.” Josh Ghaim, Managing Director, Ignite Growth Brands adds: “Working with Symrise as an investor as part of our financing round represents a perfect fit. Our two companies are committed to delivering impactful product innovation to brands with a sustainable focus. The collaboration will allow us to translate consumer insights into tailored formulations that address the latest trends and evolving consumer needs. We look forward to this next chapter, beyond Sunday II Sunday, to unlock the potential of our portfolio of brands.” A commitment to product innovation for pioneering brands The investment follows the launch of the Beauty Activations platform by Symrise. It is designed to elevate product innovations for cosmetic brands. By partnering with Symrise through the Beauty Activations platform, brands gain access to in-depth marketing insights, custom formulations, and an award-winning portfolio of ingredients. Ignite Venture Studio: Ignite Venture Studio builds and identifies companies that are disrupting the beauty and digital health sectors and develops these challenger brands to help them grow and thrive. Founded by seasoned CPG veterans, their unique studio infrastructure and brand-building expertise positions these companies for continued portfolio success. Ingite’s expert team has a proven history of building of globally renowned iconic brands with a focus on consumers and market expansion in the health and beauty space.
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