The French do-it-yourself (DIY) cosmetics brands has just completed a second financial round of 5 million euros with the We Positive Invest 2 fund, recently created by Arkéa Capital, and Pierre Cazaux, the founder of the French design and branding agency Dragon Rouge, alongside Karot Capital, a specialist in early stage investment and an investor in the company since 2020 which is also participating in the operation. This fundraising aims to accelerate the development of the company.
Founded in 2016, WAAM (which stands for “we are all metis”) offers vegan and organic certified formulations in recycled or recyclable and European made packaging. The brand draws inspiration from traditional beauty rituals around the world through a multicultural, minimalist and transparent approach to beauty. The brand’s products are available on its website, at Monoprix and in various independent points of sale in France, at DI in Belgium, and in some pharmacies in West Africa.
In parallel with this fundraising, WAAM Cosmetics has launched a new line of powder products (toothpaste, shower powder, shampoo and facial cleanser). Dubbed ‘Magic Powders’, the line features 100% naturally derived active ingredients that turn into foam on contact with water.
The new line is packed in eco-designed containers made from glass and aluminium, that are 100% recyclable and refillable. Developed without a drop of water, these powders make it possible to use dramatically small packaging compared to industry standards, and therefore to significantly reduce transportation-linked CO2 emissions.
“This fundraising will allow us to carry on our virtuous pathway and new products are already scheduled for 2023. We will strengthen our teams, especially commercially, and accelerate our development in Europe,” explains Dieynaba Ndoye founder and General Manager of WAAM Cosmetics.