Oddity, the parent company of US beauty brands Il Makiage and Spoiled Child, has agreed to acquire AI-based biotechnology company Revela for $76 million and will invest a further $25 million in building an R&D centre in Boston, the company announced on Thursday. The move comes as the beauty and wellness platform looks to strengthen its science-backed product development and bring “pharma-grade technology” to the market.
Oddity plans to create a biotechnology R&D centre, named Oddity Labs, to power its product innovation “through the discovery and development of molecules, probiotics, peptides, and other biological modalities”, a statement reads. With the acquisition of Revela, Oddity is betting on its patented technology, such as its AI-based molecule discovery tool — a multi-step screening process, which allows Revela to identify and test molecules — to bring new ingredients to the market. Revela’s current ingredients include ProCelinyl, a molecule that supports hair growth, and Fibroquin, another molecule that promotes skin elasticity and plumpness.