LUUM 👁

Setting the Scene

• For decades, eyelash extensions have been manually applied, a method fraught with inefficiencies and risks.

  • The process is extremely inefficient as the application takes hours to complete.

  • There’s a high liability and hygienic risk involved with humans operating metal tools near the eyes. 

  • Eyelash artists often have reduced career longevity because the labor is extremely intensive.

• This week’s company is transforming the beauty industry with robotic and AI-powered technology to apply eyelash extensions, making the process faster, safer, and more consistent.

In a Sentence

LUUM is a beauty services robotics company that applies eyelash extensions through an AI-powered machine.

• Application: LUUM uses advanced robotics to apply eyelash extensions, significantly reducing the time and effort required compared to manual methods.

• AI-Powered Robotics: LUUM’s technology leverages artificial intelligence to ensure precision and consistency, enhancing both the safety and quality of the traditional process.

The Basics

• Industry: Beauty and Personal Care

• Headquarters: San Francisco, CA

• Year Founded: 2017

• Employee Count: 50+

• Investors: Foundation Capital, XSeed Capital, Ulta Beauty, Artifact Capital

• Amount Raised: $17.5 million

• Business Model: Shop-in-Shop model within established beauty retailers

• Early Traction: Successful pilot with Ulta Beauty, 90%+ booking rates, and over 1800 sessions completed, 1230 salons on a waitlist for pre-orders

IN PARTNERSHIP WITH

• The ARK Venture Fund is taking an asset class once reserved for the accredited, ultra-rich and making it available to all US investors.

• ARK offers investment exposure to companies like SpaceX, Epic Games, Figure AI, Anthropic, and more! See the portfolio here.

• You can invest in the ARK Venture Fund (ARKVX) for as little as a $500 minimum initial investment.

• All U.S. self-directed investors can download the SoFi or Titan app and invest in the ARK Venture Fund (ARKVX) now.

The above button will also contain a prospectus and fund risks. Foreside Fund Services, LLC, distributor.*

Due Diligence

WHAT WE LIKE

• Market Opportunity: The U.S. eyelash extension and services industry is surprisingly large and poised for further growth, making LUUM's proposition a potential winner-take-all.

  • LUUM also has opportunities to expand their robotic technology into other segments of the beauty salon industry, which is valued at $155B.

• Enhanced Safety Features: LUUM’s AI-powered robotic technology ensures maximum client safety with innovative features such as a feather-light wands with flexible ends that automatically disengage if it detects movement.

• Intellectual Property: LUUM has built a strong competitive moat with 48 awarded patents across 25 countries, securing its innovative technology and providing a significant barrier to entry for potential competitors.

POTENTIAL RISKS

• Business Model: Although LUUM’s pilot was successful in providing robotic eyelash extension services directly to customers within a partnered beauty retailer setting, the shift to a shop-in-shop rental model remains untested in the market.

• Consumer Hesitancy: Market adoption may be hindered by consumer reliance on trusted eyelash specialists and potential discomfort or unease with a machine-based application process, necessitating efforts for education.

• Potential Technological Failures: As with any advanced technology, there is a risk of unforeseen technical issues or malfunctions, making upkeep and reliability critical to maintaining client trust and satisfaction.

Founder Profiles

• Nathan Harding: CEO and CTO, previously co-founded Ekso Bionics (NASDAQ: EKSO).

• Rachel Gold: CMO, previously help lead strategy at Elephant, VCCP, and Adobe. 

• Kurt Amundson: VP Engineering, previously at Ekso Bionics and experienced in robotic-human interactivity.

• Lynn Heublein: Served as Chairperson until recently. 

Comps

• 10 Beauty: Backed by Lerer Hippeau, Shine Capital, Imaginary Ventures, and Red Sea Ventures. 

• Clockwork: Backed by Initialized Capital, MVP Ventures, Pipeline Capital, and others.

Event Board

• NYC Industry Agnostic Dinner for Founders & Funders: On August 5th, we are hosting a dinner in NYC. Apply HERE.

Cast Your Vote

Last Week Today

• The results are in: Finn, a logistics company that reduces urban delivery congestion by leveraging eco-friendly vehicles and AI-optimized routes, was favored in last week’s poll. 

• Subscriber feedback: “This could thrive in high density cities — However, it would likely translate better to European urban centers versus those in America.”