10Beauty Secures $23.5 Million to Expand Robotic Manicure Services
10Beauty, a Boston-based company specializing in robotic manicures, has announced a new funding round of $23.5 million. This latest investment was led by Story Ventures and included participation from notable figures such as Karlie Kloss, Sara and Erin Foster, Bethenny Frankel, and Victoria Beckham. The company, co-founded by Alexander Shashou and Justin Effron, offers a full-service robotic manicure system designed to enhance precision, efficiency, and user convenience.
Revolutionizing the Manicure Experience
10Beauty's innovative approach focuses on reimagining the traditional manicure process, which often poses challenges like scheduling difficulties, inconsistent quality, and long service times. Their robotic system automates the entire manicure workflow, including polish removal, nail shaping, cuticle care, color application, top coat, and drying. Utilizing computer vision and precision robotics, the service aims to provide consistent and high-quality results.
The company also emphasizes hygiene and sustainability, employing single-use polish pods similar to coffee capsules. These pods support a hygienic manicure process, and their proprietary polish is vegan and non-toxic, offering a longer-lasting alternative to traditional nail polish.
Expansion Plans
With the new funding, 10Beauty plans to expand its presence in retail and salon locations. Currently operating in partnership with Ulta Beauty in Greater Boston and expanding to Chicago, the company also has plans to introduce its services at Nordstrom in Natick, Massachusetts, and Ulta Beauty’s flagship store in Naperville, Illinois. Additionally, 10Beauty is collaborating with 7am in Chicago as its first nail salon partner and the Belgrade Group in Boston as its first hair salon partner.
The company has agreements in place to deploy approximately 850 machines across its initial retail partners. "Our vision is to make a beautiful, long-lasting manicure more consistent, more convenient, and available in the places people already are," said CEO Alexander Shashou.
Strategic Use of Funds
The newly acquired funds will be directed towards further technological development and operational readiness. This financial boost will also support the broader rollout of 10Beauty's robotic manicure systems across additional retail and salon partners.
Conclusion
10Beauty's latest funding round highlights a significant step forward in its mission to transform the manicure experience. With backing from prominent investors and plans for expansion, the company is well-positioned to make its mark in the beauty and retail industries.