Zuri, an African beauty startup all about tech, just got a big investment from Launch Africa Ventures. This investment, announced recently, happened in late 2023. It’s a boost for Zuri as they plan to grow across Africa and Europe.
This isn’t Zuri’s first rodeo with investments. Last year, they closed a deal for $1.25 million. Now, they’ve launched another round for $5 million to keep growing.
Zuri, started by Gisela Van Houcke in 2016, has a cool way of working. They use a franchise model to make and sell hair products and makeup. Plus, they help hair salons with their tech needs.
Right now, Zuri is in the Democratic Republic of the Congo, Uganda, and Rwanda. They’re eyeing France and Belgium next. With 20,000 customers, 60 staff, and a buzzing social media following, Zuri is on the rise. And they’re not just about profits. They want to empower women and make beauty stuff easier to get.
The CEO of Zuri says they’re not just about looks but about changing beauty ideas and giving women tools to feel great. Launch Africa Ventures sees this investment as a smart move. They’re excited about tapping into the huge beauty market in Africa. Plus, it helps spread their investment risks.
Launch Africa Ventures has been busy. They’ve been funding startups left and right, making big waves in the tech scene. And guess what? They’ve been named the most active investor in Africa for two years straight!
Speaking of big numbers, the beauty tech scene in Africa is booming. By 2024, it’s expected to hit $73.4 million in revenue. That’s a yearly growth rate of over 17%! And down in South Africa, virtual makeup try-on apps and personalised skin care are all the rage. Looks like Zuri is riding the wave of this booming market!
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