The beauty industry is a major global polluter, contributing to environmental problems like greenhouse gas emissions, deforestation, unethical labour practices and toxic waste.
One thing the beauty industry is especially guilty of is its use of complex plastic packaging, which is difficult to recycle. Most beauty products are packaged in plastic—e.g. compacts, lipsticks, squeezable tubes etc. Around 120B units of plastic are produced each year to contain all of our beauty favorites. Because of the complex material components within the plastic packaging, recycling is challenging and expensive, and most used products ultimately end up in a landfill.
However, consumers are starting to demand more sustainable practices, both regarding recyclability and ingredients. According to a study on the changing face of the beauty consumer, 76 % of consumers are interested in sustainable products, with numbers being even higher when looking only at age groups like Gen Z and Millennials. With the beauty industry’s total value estimated to increase from $541B to $716B by 2025, eco-beauty represents a valuable business opportunity.
On Dealroom.co, we've put together a host of impact startups working with eco-beauty, from non-toxic, easily recyclable nail polish to regenerative skincare products upcycled using used coffee grounds. Explore today and click the button below. 👇
🛢️ EU Push to Ban Russian Oil Is Stalled by Hungarian Demands.Hungary is continuing to block the EU’s proposed ban on Russian oil imports, holding up the bloc’s entire package of measures targeted at President Vladimir Putin over his invasion of Ukraine, Bloomberg reports. - Bloomberg
🇺🇸 Group14 Technologies, a Washington-based manufacturer and supplier of advanced silicon-carbon technology for lithium-silicon batteries, raised $400M in Series C funding in a round led by Porsche AG.
🇺🇸 Nikola Corporation, a zero-emissions transportation and energy infrastructure solutions company, has secured $200M in investment through the purchase of Convertible Senior Notes.
🇫🇷 Alan, a Paris-based digital health insurance platform offering insurance services by focusing on a price-quality ratio health plan, has raised €183M in Series E funding.
🇮🇳 Absolute Foods, an India-based AI-driven platform enabling vertical farms, has secured $100M in Series B funding from Sequoia Capital India, Alpha Wave Global, and Tiger Global.
Other promising impact deals:
🇺🇸 Pachama, a San Francisco-based carbon credit platform, raised $55M in Series B funding from Future Positive, Breakthrough Energy Ventures, LowerCarbon Capital and others.
🇺🇸 VitroLabs, a Milpitas, California-based biotech company working to create leather from cells, raised $46M in Series A funding in a round led by Agronomics.
🇮🇳 Kaleidofin, an Indian Fintech company has raised $15M in a Series B equity round led by the Michael and Susan Dell Foundation.
🇺🇸 Mission Barnes, an impact startup focused on developing cruelty-free animal fats and meat are hiring for a Brand Communications lead, and a Lead Scientist in San Francisco, and 8 other roles.
🇺🇸 Consumer lending platform, Branch International, is hiring for a Marketing Lead based in Nairobi and an Engineer Manager based in San Francisco and27 other roles.
🇳🇱 At Dealroom.co we are hiring a Senior CRM Marketer and 5 other roles.
Dealroom is partnering with the Global Impact Tech Alliance (GITA) to gain an understanding of the barriers to adopting impact investing. If you are a VC investor that has not (yet) adopted impact strategies - We want to hear from you!
Please help us by sharing your worries, thoughts, and what is holding you back.
This is Dealroom's weekly impact newsletter. Get more industry-specific intelligence on the evolving world of impact, expert insights on purpose-driven startups, responsible tech, ethical investment, and more. Delivered on Tuesdays.
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