US-based coconut oil-based beauty products maker Kopari Beauty received $20m on Tuesday in a funding round that included consumer goods conglomerate Unilever.
The round was led by L Catterton, the private equity firm formed by luxury consumer goods group LVMH, and featured a commitment from University Growth Fund. Unilever joined the round through its corporate venturing unit, Unilever Ventures.
Founded in 2015, Kopari Beauty makes lifestyle and beauty product, such as lip gloss, balms, toothpaste, deodorant, facemasks and body scrubs, that are made from 100% organic coconut oil.
The company’s products are sold in the US, Canada, Southeast Asia and Australia through retailers including Urban Outfitters, Riley Rose, Bloomingdale’s and Amazon.
In addition to bolstering its product research and development initiatives, Kopari will use the capital to fund retail and international expansion, enhancing its user interface design and upgrading its subscription platform.
Olivier Garel, managing director and chief executive at Unilever Ventures, said: “We are hopeful that our work together will help the brand continue to innovate and expand globally in each of its rich, category-specific verticals, spanning from personal care to skincare and beyond.”
In 2017 , Kopari received an undisclosed amount of funding in a round led by L Catterton with participation from private investors Karlie Kloss, Shay Mitchell, Hilary Duff, Mila Kunis and Ashton Kutcher.