Ascension Ventures invested in then SEIS business Vidsy through its ASCEND II fund in 2016 and is delighted to track the progress of this SEIS investment.
Alongside British Startup ‘Slick’ and Chinese Startup ‘Beauty Evolution’, Vidsy wins a 3rd edition of Viva Technology Paris, L’Oréal presented its latest beauty tech innovations driven by Augmented Reality and Artificial Intelligence, and for the first time held a live pitch event for international startups on its stand.
12 startups from China, USA, Germany, UK and France who work closely with L’Oréal subsidiaries and brands were invited to present their beauty tech services in front of L’Oréal’s senior management team and the general public.
The three winning startups included British startups Vidsy and Slick and Chinese startup Beauty Evolution.
Vidsy combines its technology with a global network of talented creators, providing a new video production model for branded content across mobile, social media and digital channels. Based in London, Vidsy is a world leader in video, having global creative partnerships with Facebook, Instagram, Snapchat and Twitter. Vidsy is currently working across various L’Oréal brands including L’Oréal Paris, Garnier, Maybelline and Yves Saint Laurent
Beauty Evolution is an application that uses big data to interpret cosmetics. It aims to help consumers understand the ingredients, reputation and skin matching of their cosmetics using innovative data algorithms, so that they can purchase safer and more effective beauty products in a more targeted way.
Slick emerged from L’Oréal’s partnership with London based accelerator and incubator Founders Factory. It is the first incubated brand created from scratch as part of this partnership.
The brand offers the next generation of salon booking software, helping hair dressers manage bookings, reduce no-shows, build client loyalty and evolve their business.
Our open innovation strategy allows to match promising new ideas of digital beauty entrepreneurs with L’Oréal’s centennial expertise and network in the field of beauty, marketing and retail. Together we will invent the future of beauty products and services, using key digital technologies such as augmented reality, artificial intelligence, and conversational commerce.
Lubomira Rochet, Chief Digital Officer of L’Oréal
L’Oréal’s large-scale digital open innovation strategy includes investments in Partech Ventures, an international venture capitalist firm, and Founders Factory, a London based digital accelerator and incubator. L’Oréal also partners with Station F, the world’s largest startup campus, based in Paris.