11.10.23
Skincare brand Element Eight announced that it has closed $6M in funding in a SAFE round. The brand reported $2.5M of investment from its existing investors, and was able to attract an additional $3.5M from new investors.
Element Eight is a premium brand that brings biomedicine to skincare through its proprietary "OATH, Oxygen Amplified Therapy."
"Forty-five percent of the round is coming from surgeons, dermatologists, and PhD scientists-- we have a strong validation of the scientific acumen of the brand," said Element Eight's chairman Bradley Patt.
The company has raised $7.9M to date and will proceed on to a new $6.25M Series A Round to accelerate the growth of its skincare products.
Element Eight's proprietary "OATH, Oxygen Amplified Therapy" technology mimics the function of hemoglobin to deliver 20 times more oxygen directly to skin cells up to 700 microns deep.
The technology was developed by a team of world-renowned spine surgeons, biomaterial engineers, dermatologists, and clinical researchers over ten years.