lululab, a member company of Born2Global Centre, has successfully attracted Series B funding from Netmarble, Korea's leading game developer, as well as from other companies.

 

In addition to Netmarble, the firms L&C Bio, Global Medical Research Center, and CTK Investment are participating in this Series B funding, the amount of which has not been disclosed.

 

Netmarble has financially supported various venture-backed AI companies. Through such collaboration, lululab will synergize with Netmarble's AI technology while continuing to cooperation with Netmarble's affiliate company Coway in the home wellness appliance industry. In addition, lululab has been expanding its business, signing an MOU in October with co-investor L&C Bio for the development of a new platform.

 

lululab has developed the AI skincare assistant LUMINI, which scans users' faces, analyzes skin conditions, and recommends skincare products tailored to specific skin profiles within 10 seconds. Recently the company launched the LUMINI Kiosk, a smart mirror that provides customized skincare services. As the first of its kind in the beauty industry, it employs AI technology based on multinational and multiracial skin data to analyze the skin and provide recommend products that are optimized for individual skin needs.

 

Yongjoon Choe, CEO of lululab, said, "We will accelerate the distribution of AI-based, contact-free beauty solutions," he added. "With this investment, we plan to expand our business in the skin analysis and beauty sectors and to evolve into a provider of solutions for skin-related conditions and diseases.

 

lululab is being recognized internationally for its value in bringing the use of actual skin data to the beauty industry. As a consequence, it was named the CES Innovation Awards Honoree for two consecutive years in 2019 and 2020, as well as the winner of the LVMH Innovation Awards by the French multinational conglomerate LVMH.




The AI beauty startup, lululab, will be launching its AI skincare assistant "LUMINI" at Beautyworld Middle East, the largest beauty expo in the Middle East, which will be held in Dubai from April 15 to 17 (Booth: C2A08).


The Beauty AI startup, lululab, to unveil the LUMINI, designed for the Middle Eastern market, at Beautyworld Middle East

 

lululab, a spin-off company of C-Lab, Samsung Electronics' in-house venture program and a member company of the Born2Global Centre, has developed the LUMINI, an AI-based skincare assistant that provides customers with individually tailored skincare solutions. lululab is already being recognized in the beauty industry. The company received the Innovation Award at CES 2019 and was named the winner of the skincare category at Cosmoprof Asia 2018.

 

The LUMINI offers a three-step service (face scanning, skin analysis, and product recommendation) using AI technology independently developed by lululab. It is comprised of a small device that scans the face of the user and a mobile application that shows the user the analysis results and suggests customized solutions. Based on AI technology, it scans and analyzes the condition of a person's skin within 10 seconds. Using the results of this diagnosis, the LUMINI is then able to recommend the cosmetic products that can best meet the individual's skincare needs.

 

At Beautyworld Middle East, lululab will host a K-beauty product recommending event for visitors to the company's booth.

 

lululab CEO Yongjoon Choe said, "By applying the LUMINI to the global beauty industry, we hope to offer customers who visit makeup stores, shopping malls, spas, and other beauty-related facilities accurate skin analyses and individually-tailored services that can be used anytime, anyplace. Today's consumers are smart; they do their research online and they are the final decision makers. We give them the digital tool to strengthen their confidence and ease their final decision on what products to buy. Through continued collaborations with beauty companies and companies representing diverse sectors, including distribution and IT, we hope to provide individualized IT services that can be easily used by as many people as possible."

 

Based on this year's product launch, lululab aims to increase exports and strengthen ties with K-beauty brands in the Middle Eastern beauty market.

 

For more detailed information on lululab, visit http://www.lulu-lab.com/en/.

 

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