Nøie Secures $12 Million Series A Funding for Personalized Skincare

Driven by personal experiences with skin sensitivities, Daniel Jensen, a tech entrepreneur, identified a gap in the market. He envisioned a more effective approach to skincare and subsequently founded Nøie, a Copenhagen-based startup.

Developing a Skin Profile Database

Nøie utilizes a proprietary technology platform to maintain a comprehensive database of skin profiles. This allows the company to deliver more targeted care for individuals with sensitive skin.

Series A Funding Details

The startup has recently completed a $12 million Series A funding round. This round was spearheaded by Talis Capital, with contributions from Inventure and existing investors.

Notable Investors

Among the investors are Thomas Ryge Mikkelsen, previously the CMO of Pandora, and Kristian Schrøder Hart-Hansen, former CEO of LEO Pharma’s Innovation Lab.

Targeting Sensitive Skin Conditions

Nøie’s customized skincare solutions are designed to address a range of sensitive skin concerns. These include conditions such as acne, psoriasis, and eczema.

The Nøie Approach to Product Selection

Through dedicated research and development, Nøie evaluates a vast number of skincare products currently available. The company then selects those deemed most effective and employs an algorithm to categorize customers into distinct “skin families.”

Based on this categorization, customers receive personalized product recommendations tailored to their individual skin needs.

Competitive Landscape

While Skin+Me is a recognized competitor, it operates as a prescription-based service. Nøie distinguishes itself by offering non-prescription skincare options.

Jensen's Vision for the Future of Skincare

Jensen stated his belief that the primary challenge lies in shifting consumer behavior within the broader skincare industry. He anticipates a future where the practice of selecting generic, off-the-shelf products will seem outdated.

He views emerging companies in the personalized skincare space as collaborators, all working towards a fundamental change in how individuals choose skincare.

The Shift Towards Personalization

Jensen emphasized that these companies collectively demonstrate the viability of receiving highly-personalized products based on specific skin requirements.

Personal Frustrations Sparked Innovation

Reflecting on his own difficulties in finding suitable skincare, Jensen noted the challenges of identifying effective solutions. He observed a disparity between technological advancements in other areas and the skincare industry.

He predicts that within the next five to ten years, consumers will find it remarkable that they once relied on random product selection without understanding their skin’s needs.

Talis Capital's Perspective

Beatrice Aliprandi, principal at Talis Capital, highlighted the outdated “one-size-fits-all” approach prevalent in both dermatology and the skincare industry.

Data-Driven Personalization

Aliprandi believes Nøie is pioneering a new era of skincare by leveraging a data-driven approach and incorporating community feedback. This enables the company to provide complete personalization at scale.

She views Nøie as a catalyst for the next revolution in skincare.