KIKI World, the innovative beauty company that relies on its community to select products, has secured a $7 million funding round. The investment comes from a variety of backers, including Estée Lauder Companies’ New Incubation Ventures (NIV), a16z crypto, consumer-tech funds Double Down and 2Punks Capital, Advancit, digital communities RedDao and OrangeDao, and Web3 entrepreneur gmoney.
Kiki World debuted in May 2023 with its flagship product, the $29 peel-off nail polish named Pretty Nail Graffiti, which was collaboratively developed by its community. Since its launch, the company has expanded its offerings to include the Skin Development Kit, a skincare line where customers have the opportunity to vote on the essential ingredients and the order of their release.
Through its unique platform and blockchain infrastructure, Kiki World enables its audience to co-create products by participating in voting processes for upcoming releases. Additionally, users can engage with the brand, earn rewards for their involvement, and connect with fellow fans.
Shana Randhava, senior vice president at Lauder’s New Incubation Ventures, said: “We’re excited by the Kiki team’s vision of finding new ways to put the customer first. Kiki is leveraging the forefront of web3 tech to rethink the future of how consumers can cocreate with brands and engage in new and relevant ways. This exploration of a new consumer-centric model provides ELC with a valuable window into the future of beauty.”
