UAE-based e-commerce platform Powder Beauty, known for its commitment to eco-conscious beauty products, has successfully closed its pre-Series A funding round. The round, although undisclosed in value, marks a significant milestone for the company as it seeks to expand its operations into Saudi Arabia. This funding round has attracted the attention of notable investors, reinforcing Powder Beauty's position as a leader in the clean beauty segment across the Middle East.

Leading Investors and Strategic Backing

The pre-Series A round was led by Sophia Collective, a venture spearheaded by Sara and Magnus Olsson, alongside NKHEL, a family office fund established by Nithin and Nikhil Kamath, founders of Zerodha. The round also saw participation from several prominent regional angel investors, including Maha Taibah, who is widely recognized as a shark on Shark Tank Arabia. The involvement of such influential investors reflects strong confidence in Powder Beauty's vision and growth potential.

Empowering Female Founders and Closing the Gender Gap

Founded in 2018 by Ayat Toufeeq, Amina Grimen, and Marriam Mossalli, Powder Beauty stands out as the Middle East’s first female-owned and operated e-commerce platform dedicated to conscious beauty and wellness products. The company's mission aligns closely with that of Sophia Collective, which is dedicated to addressing the investment gap faced by female founders in the region. As highlighted by Sara Salhab, founder of the Sophia Collective, female-founded startups received only 1% of venture capital funding in the Middle East in 2023, underscoring the importance of initiatives like this.

Strategic Expansion into Saudi Arabia

With the new funding, Powder Beauty is poised to scale its operations in Saudi Arabia, tapping into a beauty market currently valued at $8.7 billion and projected to grow to $39 billion by 2033. The company aims to meet the rising demand for clean beauty products, which are increasingly sought after by discerning consumers in the region. Powder Beauty’s expansion plans include the launch of exclusive brands and the introduction of new product categories to its existing lineup, which features skincare, haircare, makeup, and wellness products.

Vision for the Future

Powder Beauty has quickly established itself as a leader in the clean beauty segment, committed to educating its customers and delivering the finest conscious and sustainable products. The company’s co-founder and CEO, Ayat Toufeeq, expressed her excitement about the support received from investors like the Sophia Collective, emphasizing the alignment in their vision to build a successful business in the largely untapped but fast-growing clean beauty market.

As Powder Beauty embarks on its next phase of growth, the company is set to redefine beauty standards across the Middle East, making ethical and sustainable beauty products accessible to a wider audience. With strong industry backing and a clear mission, Powder Beauty is well-positioned to lead the movement towards clean beauty in the region, shifting the role of women from consumers to shareholders in the multi-billion-dollar beauty industry.

Source: As Powder Beauty embarks on its next phase of growth, the company is set to redefine beauty standards across the Middle East, making ethical and sustainable beauty products accessible to a wider audience. With strong industry backing and a clear mission, Powder Beauty is well-positioned to lead the movement towards clean beauty in the region, shifting the role of women from consumers to shareholders in the multi-billion-dollar beauty industry.

Source: Wamda