Paris-based venture firm Alven Capital has led a €1m funding round for Joliebox, a beauty product subscription service.
The firm joined a number of angel investors to finance the French start-up, which delivers a monthly ‘Beauty Box’ to its subscribers with a selection of four to six travel-sized cosmetic products from high-end brands for a flat fee of €13.
In a few months, the company has leveraged on all the aspects of viral marketing through Facebook, Twitter and YouTube to attract almost 10 000 subscribers, which are invited to share their opinions on each product they test. It has also attracted more than 40 brands to the service, including Lancôme, Laura Mercier, Caudalie, Payot, L’Occitane, Bourjois, and Kiehl’s.
“The adherence, since the early start of the company, of the main cosmetic brands in the market is a key competitive advantage. The impressive speed of execution shown by the JolieBox team, have allowed them to have widespread visibility in the beauty market and to confirm their leading position,” he added.
Alven Capital manages €150m worth of investments, and primarily focuses on the internet, media and technology sectors. It has already invested in more than 50 European companies, including Companeo, MeilleursAgents.com, SeLoger.com and Lengow.
Last month the firm participated in a €19.8m financing round for Qosmos, a French producer of technology that identifies and analyses data as it crosses networks. The round was co-led by London-based venture capital firm DFJ Esprit.
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