Covalo, a Zürich, Switzerland-based provider of a Personal Care ingredients platform, raised an undisclosed amount in funding.
The round was led by High-Tech Gründerfonds, seed + speed Ventures, and the Gekko Group.
The company intends to use the funds to accelerate its expansion to food.
Led by Timo von Bargen and Yann Chilvers, Covalo provides a comprehensive B2B platform that allows consumer good brands to discover, connect and transact with ingredient, services, and packaging suppliers. The platform is already used by formulators from more than 5,000 brands such as Lush, L’Oréal or Drunk Elephant across 140 countries. ingredient platforms in the industry with over 70,000 listings from more 1,000 suppliers worldwide. The platform is trusted by formulators from over 5,000 brands across more than 140 countries, who rely on the platform to find ingredient data and easily engage and collaborate with suppliers. To extend its reach and drive its open-platform strategy, Covalo has recently established strategic partnerships with Reed Exhibitions, the largest fair organizer, as well as with major regulatory, formulation, and PLM software providers.
FinSMEs
20/03/2023