A Boise-based startup named BoldHue, which developed a unique device for personalizing makeup, has successfully secured $3.4 million in seed funding. This funding round was led by the venture capital firm Lucas Venture Group, with additional contributions from Meridian’s Capital Eleven, Backstage Capital, Tacoma Ventures, Mark Cuban, and Kevin Huvane.
The device, often referred to as the “Keurig for makeup,” dispenses customized shades of makeup. With this funding, BoldHue plans to ship its first 10,000 units, expand its workforce, and boost marketing efforts.
Sarah Lucas, the managing partner of Lucas Venture Group, expressed her excitement about the company, stating, “Rachel and Karin have engineered the most elegant solution the beauty-tech industry has ever seen, setting a new standard for innovation and excellence.”
Since its inception, BoldHue has raised a total of $5.2 million, including previous private funding and pre-seed funds amounting to $2 million. Co-Founder and CEO of BoldHue, Rachel Wilson, expressed her gratitude towards the investors for their support and shared vision to revolutionize the beauty-tech industry.
The additional funding will also support a nationwide roadshow, where BoldHue’s team will travel to cities across the United States to introduce their makeup technology to a wider audience.
BoiseDev, a local news outlet, has been following the progress of BoldHue since 2021. This funding milestone marks an important step forward in BoldHue’s mission to make its personalized foundation device accessible to consumers and makeup enthusiasts nationwide.
