ODDITY, the consumer technology platform designed to transform the global beauty and wellness market, today announced the $76 million acquisition of Boston-based Revela, an industry-leading biotechnology startup and pioneer in AI-based molecule discovery for beauty and wellness indications.
With the acquisition, the company will open ODDITY LABS in Boston and invest an extra $25 million in its frontier lab.
The corporate merger will accelerate the creation and expansion of innovative, scientifically supported, clinically tested, and highly effective products for the benefit of customers worldwide.
With the acquisition of Revela, ODDITY plans to establish ODDITY LABS in Boston, MA, with a $25 million investment for its frontier lab.
ODDITY LABS will be a biotechnology research and development laboratory that will enable ODDITY’s future product innovation by discovering and developing chemicals, probiotics, peptides, and other biological modalities.
It is being built to disrupt the market with patented, proprietary technologies and capabilities such as AI-based molecule discovery and what we believe to be the world’s most advanced phenotypic database to understand the biological mechanisms that drive cellular behavior for beauty and wellness indications.
The founding team of Revela will lead ODDITY LABS. As Chief Scientific Officer, Dr. Zhao joins ODDITY.
We have seen the transformational powers of biotechnology and artificial intelligence in drug discovery, and we are unleashing these technologies in the beauty and wellness space with massive investment, Holtzman added.
While our competitors are stuck in the past, adding Revela will allow us to build the future of R&D for the category, just like we did with our technology center in Tel Aviv.
ODDITY is a consumer technology firm that creates and expands digital-first products in order to disrupt the offline-dominant beauty and wellness sectors. SpoiledChild and IL MAKIAGE are owned by the corporation.
ODDITY, which has its US headquarters in New York City and an R&D center in Tel Aviv, Israel, has constructed one of the industry’s most advanced technological platforms, which uses data science, machine learning, and computer vision to provide a better online experience for consumers.
The company identifies customer requirements using cutting-edge data science and offers solutions in the form of beauty, health, and tech goods.
ODDITY has built numerous significant consumer-facing technology solutions as part of its technology platform, which today serves its own brands and over 40 million customers.
POWERMATCH is an AI- and Machine Learning-powered matching engine that finds the best goods for customers.
Kenzza is a patented creator-powered in-house media platform with one of the world’s largest libraries of customised beauty media content.
Vision in the Hyperspectral Range – A unique hyperspectral image recovery software propels the organization to the forefront of computer vision innovation.
SpoiledBrain is a matching engine powered by AI and Machine Learning that connects people with health items.
The corporation is building mechanisms to enable it to sell its technology products to third-party companies.