Nur Atifi · · 1 min readK-beauty startup Memebox snaps $35m series D funding to accelerate growth
Korean beauty ecommerce platform Memebox announced the closing of its US$35 million series D funding round led by Johnson and Johnson Development Corporation (JJDC).
This latest round brings Memebox’s total raised funding to US$190 million.
See: How a Korean beauty ecommerce company became one of Y Combinator’s top startups
The announcement comes on the back of the reintroduction of the company’s ecommerce engine last June. Memebox will use the fresh funding to accelerate its overall growth and “build the next-generation of personal care brands by leveraging Korean technology across beauty categories.”
The company will continue to strengthen its portfolio of indie brands by investing in digital technology and working with innovative manufacturing and retail partners.
“We’re focused on predicting and delivering what consumers are craving, and [we] believe taking a science-focused approach is key,” said Memebox founder and CEO Hyungseok Dino Ha.
With the deal, Memebox will also leverage JJDC’s global capabilities and scientific expertise. “This will enable us to take a big step forward in our focus on innovation and research and design, as well as reach a global audience,” said Ha.
Editing by Charmaine de Lazo
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