lululab is a company that developed and commercialized artificial intelligence (AI) skin measurement solutions and has been working as a member of the Bonto Global Center since 2018.
In addition to Netmarble, L&C Bio, Global Medical Research Center, and CTK Investment participated in lululab's investment in Series B, which was spin-off from Samsung C-lab in 2017. The amount of investment is private.
According to lululab, Netmarble, a major investor, has been actively investing in various artificial intelligence-based venture companies. Through this investment, lululab plans not only to create synergy with Netmarble's artificial intelligence technology, but also to continue cooperation with its affiliate Coway in the field. Another investment company, L&C Bio, also signed a business agreement to build a new platform in October this year and is expanding its business.
lululab has developed Lumini, a customized skincare solution based on artificial intelligence technology. Lumini scans the skin, analyzes it within 10 seconds, and recommends cosmetics suitable for individual skin. Recently, it launched Lumini Kiosk, a smart mirror that provides customized services for non-face-to-face skin.
It uses artificial intelligence technology based on multinational and multi-ethnic skin data to analyze skin in a non-contact manner for the first time in the beauty industry and provide a solution to find products suitable for individual skin.
Currently, lululab provides customized skin measurement solutions in cooperation with global companies in various fields such as distribution and healthcare as well as the beauty industry.
Amid the spread of non-face-to-face service trends, we will accelerate the spread of non-face-to-face beauty solutions based on artificial intelligence, said Choe Yong-joon, CEO of lululab. "With this investment, we plan to expand to solution companies related to skin diseases in the future."
Meanwhile, lululab has received the Innovation Award for the second consecutive year following 2019 at CES, the world's largest consumer electronics fair, and has been selected as the only French fashion giant LVMH's Innovation Awards in Korea.
[Premier Business Portal - November 13, 2020 Successfully attracted investment from lululab and Netmarble]