L’Oréal Takes Minority Stake in Environmental Tech Start-Up Gjosa - SolidRumor.com

L’Oréal Takes Minority Stake in Environmental Tech Start-Up Gjosa

 L’Oréal Takes Minority Stake in Environmental Tech Start-Up Gjosa

L’Oréal and Gjosa’s water-saving technology. L’Oréal.

The beauty giant is backing the five-year-old Swiss company, which develops technology aimed at saving water and energy, it announced in a statement. The investment was made through its corporate venture capital fund, Business Opportunities for L’Oréal Development (BOLD).

The two businesses have worked together since 2015 to optimise shampoo rinsing technologies. In 2018, L’Oréal and Gjosa launched a water-saving shower head and earlier this year, they unveiled a sustainable salon hair care system that can also be used at home.

”By combining Gjosa’s unique water-tech innovations with L’Oréal’s knowledge of beauty rituals, data, tech, and personalisation, we will invent together new augmented beauty experiences for our consumers while protecting the coveted and precious resource that is water”, Barbara Lavernos, L’Oréal Group’s chief research, innovation and technology officer, said in a statement.

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