ODDITY acquires Revela, Establishes ODDITY LABS to bring AI-based Molecule Discovery Technology to Beauty and Wellness Industry

HEADLINE: ODDITY acquires Revela, Establishes ODDITY LABS to bring AI-based Molecule Discovery Technology to Beauty and Wellness Industry

SUBTITLE: The acquisition and additional funding for frontier labs will enable the development of proprietary, science-backed, clinically tested and highly efficacious products in the beauty and wellness industry.

WHO ODDITY, a consumer technology platform is bringing proven pharma-grade technology to beauty and wellness.

WHAT ODDITY has acquired Revela, a leading biotech startup, that uses AI-based molecule discovery for beauty and wellness indications. The acquisition of Revela will enable the establishment of ODDITY LABS in Boston with an additional $25M investment for its frontier lab.

WHY The acquisition will allow ODDITY to double down on innovation and will enable the creation of targeted and highly efficacious products across an unlimited range of consumer needs. The combination of ODDITY's dominant direct-to-consumer platform and Revela's biotechnology is expected to be a game changer for the industry, redefining product efficacy through AI-based molecule discovery engines for the benefit of consumers worldwide.

ACQUISITION ODDITY announced a $76 million acquisition of Revela and will invest an additional $25 million for ODDITY LABS. The transaction is expected to close in the second quarter of 2023.

CUSTOMER TRACTION Revela has patent-pending molecule ingredients that have significant step-wise improvements in efficacy for skin and hair based on clinical testing. Revela has hundreds of molecules in its development pipeline today, spanning a wide range of beauty and wellness applications.

KEY TAKEAWAY ODDITY's acquisition of Revela and establishment of ODDITY LABS is expected to bring a competitive advantage and technology moat, creating a game changer for the beauty and wellness industry. The integration of AI-based molecule discovery engines is expected to redefine product efficacy across categories, use cases, and form factors, for the benefit of consumers worldwide.