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Thirteen Lune Closes $8M Seed Round

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Thirteen Lune Closes $8M Seed Round

(CTN News) – A seed plus investment round of $8 million was closed by Thirteen Lune, the inclusive beauty e-commerce destination co-founded by industry veterans Nyakio Grieco and Patrick Herning, with additional participation from The Brain Trust Fund.

Kendra Bracken-Ferguson and Lisa Stone, the co-founders of BrainTrust Founders Studio, a platform dedicated to black founders of beauty and wellness companies, lead the fund.

It invests in founders identified through Brain Trust Founders Studio.

As a result of the launch of its first private label brand, Relevant: Your Skin Seen, and its expansion of its in-store partnership with JCPenney Beauty, 13 lune has achieved 2,000%+ growth in sales year-over-year, which is impressive.

Ami Colé, Buttah Skin, and Pattern Beauty by Tracee Ellis Ross are three of the nationally recognized BIPOC-founded brands that have been added to its platform as well.

It is expected that the capital raise will support the company’s omnichannel approach, supporting brick-and-mortar retail, experiential retail, as well as the expansion of Relevant: Your Skin Seen.

A total of $12.5 million in total funds have been raised from this round of equity capital as well as an initial seed funding round led by Fearless Fund.

Upon completion of this investment plus seed, thirteen lune is expected to reach profitability in 2023.

In my 20 years of experience as a Black beauty entrepreneur, it is a privilege to be able to shape the landscape of inclusive beauty, and to serve as an agent of change for BIPOC brand founders to receive recognition and opportunities,” said Nyakio Grieco, co-founder of Thirteen Lune.

In addition, thirteen lune’s partners share thirteen lune’s mission of supporting diverse founders.

This is because they have historically had fewer resources and opportunities to build businesses and create generational wealth than their peers.

Within the last two years, Thirteen Lune has grown from an e-commerce destination featuring 13 foundational Black-founded brands to a platform offering 160+ beauty brands, of which 90% are Black-founded, with about 10% being from ally brands, in a relatively short period of time.

With the aim to expand into 600 JCPenney stores nationwide in 2023, Thirteen Lune will also open its own flagship store in Los Angeles.

In addition, it will expand to 600 JCPenney stores nationwide.

Thirteen Lune has proven inclusivity and scaleability aren’t mutually exclusive since we launched in 2020, says Patrick Herning, CEO and cofounder.

“With a mission to inspire the discovery of BIPOC-founded brands for people of all colors and backgrounds, we enter 2023 continuing to lead with intention and authenticity, ensuring we continue to grow and grow.”

A bunch of celebrities are investing in thirteen lune, including Fearless Fund, Capstar Ventures, Gwyneth Paltrow, Hannah Bronfman, and Naomi Watts.

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