KIKI World Raises $7 Million

KIKI World, a new blockchain-based beauty brand, has raised $7m in a funding round from numerous investors, including a16z crypto and The Estée Lauder Companies’ New Incubation Ventures (NIV).

The Los Angeles-based, Web3-ready beauty brand launched in early 2023, with a focus on customer co-creation and ownership and an overarching goal to foster meaningful connections between brands, creators, and customer communities.

“KIKI sees the internet and the communities it connects as the engine that creates, not merely consumes, the brands and products that will define the next generation, and is building tools to make this elevated customer experience a reality,” said Jana Bobosikova, Brendon Garner, and Ricky Chan, KIKI’s Co-Founders.

KIKI World works by incentivising its ‘community members’ to vote on the features of a product before it’s made. For their participation, members are rewarded with points toward free products.

This unique collaboration has led to the successful launch of five innovative products, including Spot on Stickers, Pretty Nail Graffiti, Play Paint Marker, One Night Strand, and NFC Chip Press-On Nails that allow wearers to effortlessly share their details with a simple nail tap.

Beyond co-creation, KIKI World offers digital ownership of products through its KIKI World Pass, a non-transferable token that sits on the Polygon blockchain platform and is linked to each member’s profile.

“We’re excited by the KIKI team’s vision of finding new ways to put the customer first. KIKI brand with their custom-built platform is leveraging the forefront of Web3 tech to rethink the future of how consumers can co-create with brands and engage in new and relevant ways. This exploration of a new consumer-centric model provides ELC with a valuable window into the future of beauty.” explained Shana Randhava, Senior Vice President of NIV.

Other investors in KIKI include consumer-tech funds Double Down, 2Punks Capital, and Advancit, digital communities RedDao and OrangeDao, and the digital creator GMoney.

Starting this month, KIKI will begin releasing a new set of platform tools and applications that will enable creators, brands, and fans to connect and launch rich campaigns driven by their communities, in addition to fuelling KIKI’s own created product lines.