The Good Face Undertaking platform raises $5.65 million

Good Face Undertaking introduced Tuesday a $5.65 million funding from VMG Capital. The corporate has launched an AI-powered platform for aiding R&D in any vertical which depends on chemistry, beginning with cosmetics.

CEO and co-founder of Good Face Undertaking Iva Teixeira instructed CosmeticsDesign that the platform is meant to permit R&D groups and types to deal with mounting client calls for at the beginning of product improvement.

Whereas the event course of used to incorporate making a product after which screening it towards the related laws, Teixeira stated in the present day’s market strikes too rapidly and contains too many calls for to make use of the identical mannequin.

Utilizing funding to vary client items R&D course of

With the funding, Teixeira stated Good Face Undertaking would proceed to develop within the cosmetics and private care sector, in addition to different packaged client items verticals.

Customers have expectations of sustainability, packaging, affordability, efficacy, pores and skin sensitization and plenty of different features of their private care merchandise, which is troublesome for manufacturers to maintain up with.

Teixeira stated R&D broadly must create methods to funnel market insights to not solely maintain up-to-date however look in the direction of to the buyer calls for of tomorrow.

“That simply screams massive information and real-time information on the fingertips, not only for the marketer, however for the choice maker that’s in procurement, the choice maker that’s in manufacturing, the choice maker that’s on the chemist’s bench,” Teixeira stated.

She additionally stated this perception made VMG the suitable investor for The Good Face Undertaking, each on the trade and expertise sides.

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