Il Makiage acquires Voyage8117. August 2021
Il Makiage acquires Voyage81
New York, 8/17/2021
Cosmetics company Il Makiage will acquire AI startup Voyage81 for $40 million. Il Makiage plans to use Voyage81’s hyperspectral imaging systems to improve its machine learning capabilities.
Voyage81 uses smartphone images to generate hyperspectral imaging data that offers more color channels and nuances than traditional cameras.
The technology could help Il Makiage use its algorithms to detect more shades of color and better match makeup to skin tone. Voyage81 is also working with smartphone manufacturers to develop a hardware-based solution that builds on the hyperspectral software to improve low-light photos.
New York-based Il Makiage expects its revenue to exceed $250 million this year, up 85% from last year’s $136 million.
Private equity firm L Catterton has invested about $45 million in Il Makiage and holds a 40% stake.