L'Oréal's VC Arm Backs Live Tinted
Inclusive makeup brand Live Tinted has secured a substantial Series B funding round with backing from L'Oréal’s venture capital arm. The investment signals continued interest from major beauty conglomerates in acquiring or funding high-growth, diverse brands. This capital infusion is expected to help Live Tinted scale its operations and expand its retail footprint.
- The brand was founded by Deepica Mutyala, a South-Asian American entrepreneur who first gained viral attention in 2015 for a YouTube video demonstrating how to use red lipstick to color-correct dark under-eye circles, a video that has since surpassed 10 million views. - Before launching products, Live Tinted started in 2018 as an inclusive digital community for people to discuss beauty and culture, particularly for those with underrepresented skin tones. - The brand's first product, the Huestick, was a direct result of community feedback addressing concerns like hyperpigmentation and dark spots. The multi-use stick for eyes, lips, and cheeks once had a waitlist of over 10,000 people. - Prior to this Series B investment, Live Tinted secured a $10 million Series A funding round in early 2023 and a $3 million seed round in 2021. - L'Oréal's venture capital fund, BOLD (Business Opportunities for L'Oréal Development), was founded in 2018 and strategically invests in innovative startups across technology, biotech, and new beauty business models. - Live Tinted is the first South Asian-owned makeup brand to launch at Ulta Beauty and is one of the fastest-growing prestige cosmetics brands within the retailer's "Sparked" program for emerging brands. - The brand is undergoing a major retail expansion, aiming to be in all 1,400 Ulta Beauty stores. Its Hueguard Skin Tint product reportedly sells one unit every three minutes.
