Croda first invested in Cutitronics in mid-2017, becoming a minority stakeholder and adding company president of personal care in North America Sandra Breene to the Cutitronics board, as Cosmetics Design reported at the time.
“To be part of Cutitronics at such an exciting time in their development is wonderful,” says Breene in a press release announcing the additional investment.
“We believe that a novel device such as CutiTron, and the wealth of data around skin care routines and consumer behaviour it will provide, will be invaluable for us in creating innovative, sustainable next generation ingredients for the personal care industry.”
Croda has not shared financial details of the partnership but is clear in stating that the company, even after this latest investment, remains a minority shareholder in Cutitronics.
Cutitronics founder and CEO David Heath, does suggest however that the tech maker is now in a better position to realize its objectives:“Today’s announcement marks a milestone in Cutitronics’ journey,” says Heath in the press release issued Wednesday.
“We are excited to be able to put real pace behind our ambitious plans to grow our team and develop our suite of technologies. The support we have received from Croda to date has been invaluable. Continuing this partnership will assist us in progressing our ambitious plans for 2019 and beyond.”
The next steps for Croda and Cutitronics is a fully realized, customizable commercial device, according to the release. The devise known as a CutiTron is due for updates, compliance testing, and a pilot manufacturing round.
The CutiTron assesses skin care needs, prepares the skin for efficient skin care application, and doses out the recommended product. “CutiTron’s further development follows extensive collaboration with skin and beauty care companies,” emphasizes the press release.
Deanna Utroske, CosmeticsDesign.com Editor, covers beauty business news in the Americas region and publishes the weekly Indie Beauty Profile column, showcasing the inspiring work of entrepreneurs and innovative brands.