Seven-Figure Seed Funding for IQONIC.AI
We are proud to announce that we have successfully closed a seven-figure seed financing round. The fresh capital will enable us to further refine and expand our AI models (e.g. in hair and health) and to enter new markets. Brandenburg Kapital, the health tech investor YZR Capital and Arve Capital are now joining our long-term investors. APX (the early-stage investor of Axel Springer and Porsche) is also investing again.
To date, we have offered our AI-based skin analysis as a SaaS solution for beauty brands and retailers. We use technology and innovation to increase customer satisfaction, reduce mispurchases and create a sustainable, inclusive and diverse future for the industry. With the new funding, we are expanding into another area: Hair. Our customers can now book the related modules. Our founder Martin Pentenrieder explains: “For example, we offer an analysis of hair type and density.” We are thus entering another billion-euro market: in 2023, sales in the hair care sector in Germany alone will amount to around €3.06 billion.
But this is just the beginning: in the future, we will be tapping into other related business areas. These include, in particular, the health aspect.
We would like to thank all our investors and supporters — both long-term and new. It’s amazing to see how far we’ve come and we look forward to what the future holds. Here’s to many more years of growth and success together!