Sillages Paris, the French start-up offering an online service to create customised fragrances based on artificial intelligence and machine learning, will receive the first investment from BOLD, L’Oréal’s new corporate venture capital fund that will take minority stakes in innovative start-ups with high growth potential.
The start-up is already part of L’Oréal’s incubator at Station F, a global hub of tech start-ups, since June 2018. In addition to the minority stake, L’Oréal will support Sillages Paris with its expertise in marketing, research, digital and retail.
Investments in new business models
Standing for Business Opportunities for L’Oréal Development, BOLD will invest in new business models in marketing, R&I, digital, retail, communication, supply chain and packaging. The new fund builds on L’Oréal’s open innovation strategy and will support start-ups with L’Oréal’s expertise, networking and mentorship.
Through this launch, L’Oréal intends to “deeply connect the Group to a global ecosystem of agile, innovative startups and includes partnerships with Founders Factory, Partech International Ventures, Station F and Raise Ventures.”
Startups can get in touch with the teams of the fund via firstname.lastname@example.org.
“With the creation of our own corporate venture fund, we will share our expertise, networking and mentorship and provide financial support to promising startups, while preserving their autonomy. The fund strengthens our open innovation strategy of connecting L’Oréal’s expertise with an ecosystem of enthusiastic entrepreneurs in the beauty sector to address together new consumer needs and aspirations in our industry,” said Laurent Schmitt, President of BOLD.