Overview
Zurich-based Covalo has raised €3.5 million in a seed extension round led by Hi Inov, with participation from HTGF and Seed+Speed Ventures. The funding will support Covalo's transition from a marketplace to a data infrastructure provider for the personal care industry, addressing the challenge of scattered ingredient data. The company connects over 1,500 suppliers with more than 6,000 brands, reporting an 84% increase in platform engagement and net revenue retention above 145%. Covalo plans to enhance its platform with AI tools and advanced data management capabilities.
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Investors: Hi Inov, HTGF, Seed+Speed Ventures
Zurich-based Covalo has raised €3.5 million in a seed extension round led by Hi Inov, with participation from HTGF and Seed+Speed Ventures. The funding will support Covalo's transition from a marketplace to a data infrastructure provider for the personal care industry, addressing the challenge of scattered ingredient data. The company connects over 1,500 suppliers with more than 6,000 brands, reporting an 84% increase in platform engagement and net revenue retention above 145%. Covalo plans to enhance its platform with AI tools and advanced data management capabilities.