Cambridge academics' plant-based makeup wins backing from L'Oreal fund [Yahoo! Finance]
L'OREAL UNSP/ADR (LRLCY)
NASDAQ:AMEX Investor Relations:
loreal-finance.com/eng
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Source: Yahoo! Finance
Sparxell, which was founded by Cambridge University scientists, has secured $3.2m (£2.5m) from backers including the French cosmetics giant. The Cambridge scientists behind Sparxell have created pigments based on the same material that many plants and animals use to produce vivid colours. The pigments are formed using plant-based cellulose, meaning they are vegan and renewable. The academics say the colours are more intense and longer-lasting than those created using synthetic colourants. Sparxell is planning to use its pigments in the beauty market, including for glitter make-up, creams and sunscreens, as well as in car paint, sequins and textiles. The pigments would be toxin-free and biodegradable. The $3.2m funding, which also includes support from SpaceX-backer Future Communities Capital, will allow it to speed up development and commercialisation of products. Part of the funding came from the Circular Innovation Fund, which was co-founded by L'Oreal. A recent study sug
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