THE WHAT? Boise, Idaho-based beauty-tech company BoldHue, founded by two women, has secured US$3.4 million in seed funding to advance and launch its personalized foundation device.

THE DETAILS  The funding round was led by Lucas Venture Group and enables BoldHue to enter the growing market for beauty-tech solutions. BoldHue’s core product is a device that dispenses custom-blended foundations based on facial scans, aiming to eliminate the guesswork in finding the perfect foundation shade. Dubbed the “Keurig for makeup,” the device promises to create a perfectly matched foundation in minutes at home. Co-Founder and CEO Rachel Wilson expressed gratitude for the investor support, noting that the funding validates their technology and propels their mission forward. The funds will be used for product launch, team building, and a nationwide marketing campaign.

THE WHY?  This investment will enable BoldHue to address its existing waitlist of over 40,000 customers and begin shipping its first 10,000 units this fall. The company aims to revolutionize the beauty-tech industry by making personalized foundation accessible to all consumers and makeup enthusiasts, further enhancing their makeup routines with innovative technology.