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Summary
The Good Face Project Closes $5.65 Million to Empower Cosmetic Chemists with Ingredient Transparency in the Beauty IndustryThe AI-driven platform enables brands, manufacturers, and Fortune 50 global retailers to meet consumer demands for safe, effective, and sustainable beauty productsSAN DIEGO, August 23, 2022-- The Good Face Project, the innovation platform for the next generation of beauty, today announced a $5.65 million seed investment round led by VMG Catalyst to infuse scientific ingredient-level data and insights into the Research and Development and innovation cycle for cosmetics. The Good Face Project is a data and technology company focused on creating efficiencies and transparency in the development of personal care products. It has built the worlds largest centralized International Nomenclature Cosmetic Ingredient (INCI) level database which encompasses up-to-date scientific research, as well as worldwide regulatory and sustainability parameters. "The Good Face Project is playing a critical role in helping brands and manufacturers drive efficiencies in their innovation and product development process," said Brooke Kiley, Partner at VMG Catalyst. While the business focus today is cosmetics and personal care, The Good Face Projects core AI-powered, science-backed technology is capable of tackling formula design and optimization in any vertical, thus positioning the company as an industry-agnostic chemistry informatics platform targeting a collective market of over $1 trillion.