Aug 9, 2024, 5:30 PM
Aug 9, 2024, 5:30 PM

MYAVANA Launches Beauty Tech Summit and Secures Funding

Highlights
  • MYAVANA recently launched its first Beauty Tech Summit, highlighting advancements in personalized hair care.
  • The company successfully secured $5.9 million in seed funding, primarily from Ulta Beauty's Digital Innovation Fund.
  • This funding is expected to enhance MYAVANA's innovative offerings within the $83 billion global hair care market.
Story

MYAVANA, a pioneer in personalized hair care, is set to enhance its innovative position in the $83 billion global hair care market following a recent funding round. Founded by Candace Victoria Mitchell, the company has spent 12 years developing groundbreaking technology, including the world’s first AI-driven personalized hair care software. This system aims to eliminate the trial-and-error approach consumers often face, offering insights into hair texture, type, and health indicators, while also suggesting dietary changes and early detection for chronic illnesses. To celebrate its 12th anniversary, MYAVANA hosted the inaugural Techturized Beauty Tech Summit in Atlanta, focusing on innovation and value creation in the hair care industry. The event highlighted the company’s commitment to empowering women in STEM through its Beauty Tech Fellowship Program. Additionally, MYAVANA announced singer and songwriter Serayah as its new brand ambassador, who will help foster community engagement within the company’s mobile app, designed to guide users on their hair care journeys. MYAVANA’s HairAI™ technology utilizes microscopic hair analysis and advanced algorithms to provide tailored product recommendations. The company has also introduced the HairScope™ and Pro+ software, enabling stylists to conduct in-salon hair and scalp analyses, thereby enhancing client experiences and boosting retail revenue through personalized care plans. With a total of $6.2 million raised since its inception in 2012, MYAVANA continues to lead the charge in personalized hair care, aiming to drive positive change in the beauty and wellness industry through data-driven insights and innovative technology.

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