L’Oreal invests in Founders Factory tech incubator

L'Oreal has announced a new investment in Founders Factory, a tech startup incubator based in London.

The global multi-sector digital accelerator and incubator was co-founded by Brent Hoberman, Henry Lane Fox and Jim Meyerle. It aims to build and scale more than 200 early-stage technology companies across six sectors over the next five years.

L'Oreal will become Founders Factory's exclusive partner for investments in beauty tech startups worldwide, providing the company with access to the innovative ideas of promising startups and entrepreneurs working in the field.

The organisations will invest and scale five early-stage startups and co-create two new companies from scratch every year, with the in-house team of experts at Founders Factory providing hands-on support and advice while working with L'Oreal to jointly build and launch new products and services.

Lubomira Rochet, chief digital officer and member of L'Oreal's executive committee, said: "This strategic investment will give L'Oreal direct access to a powerful global ecosystem of exciting startups and innovative technologies at their earliest stage."

This will build on the cosmetics company's status of having the highest investment in research and innovation in the industry.