THE WHAT? Venture incubator Squared Circles has announced the closing of a US$40 million Series A funding round led by L Catterton. The LVMH-backed private equity firm also participated in a seed round.

THE DETAILS “We’re thrilled to support Squared Circles as they create some of the most forward-thinking and innovative products that leverage science and AI to meet the needs of the consumers of tomorrow,” said Jon Owsley, Managing Partner of L Catterton’s Growth Fund. “Their targeted approach to consumables, expert grasp of consumer mindset and behavior, and seamless fusion of science with culture fill an important gap in the market. Squared Circles is set to lead the next wave of profitable, impactful innovation that benefits both people and the planet.”

THE WHY? With this funding, Squared Circles plans to launch and scale at least five more health and wellness brands over the next three years.