Way Wearble, the developer of ‘Way’ the world’s first skin care IoT solution has received an investment from Amore Pacific which is Asia's leading cosmetics·beauty corporation. Way Wearable is preparing for mass production and service development of Wave with the planned global launch to occur later this year. The investment amount has not been disclosed.
Way Wearable first is the world’s first to incorporate IoT (Internet of Things) in skin care. The technology links the IoT equipment with a mobile App and together is able to monitor skin condition and the external environment to offer skin care tips . In May company secured crowd funding pre-orders of US$120,000 (KRW 140m) within 50 days through US site Indiegogo. Way has also been recognized by Refinery29, a fashion news site which has a large audience consisting of 20 to 30 year-old females. The site identified the potential of the technology both domestic and abroad.
Moon Jong Soo from Way Wearable describing the technology said, “In the future IoT and mobile integration will play an important role in our lives and for beuaty it is no different. We plan to utilize the momentum created to combine the Korean beauty industry with technology”. He added, “Above all the support from Amore Pacific, a K-beauty global leader into a new technology beauty startup is a significant event”.
Kim Seung Hwan from Amore Pacific Strategy department “Amore Pacific has endeavoured with increasing digital capability and provide faster market response to our customers. We are hopeful that this investment will provide a step into the global beauty market”.