We believe that in order for women to look and feel their best, they need access to an easier makeup experience. BeautAI is building the world’s first automatic makeup application machine to help busy
Current Status
Today, our prototype applies foundation, contour, highlighter, eyeshadow and blush on a user, and our software is the first to simulate real airbrush application before application. It will be able to apply a full face of makeup by Q2 of 2023. We are in deep conversations with the world's largest beauty brand to collaborate on the machine. We were recently granted a method patent in the USA, received a $550k non-dilutive grant, and have completed our pre-seed fundraise for a total of $850k.
Problem or Opportunity
The barriers of traditional makeup application are time consuming, inconvenient, and challenging. The average woman spends two years of her life sitting in front of a mirror applying makeup, and over half of women report a lack of confidence in the ability to apply their makeup well. Variety in makeup shades for women of color are a rarity. One in every four women suffers from physical disability. Moreover, the beauty industry contributes 120B units of packaging waste each year. Yet, the $511 billion dollar beauty industry continues to offer women no better application alternative.
Solution (product or service)
With BeautAI, professional makeup applications and airbrush formulas that have been historically used for celebrities or special events are will be available to anyone at home and in-store thanks to hands-free beauty technology.
Automatic application through robotics removes human error, providing flawless application that makes it feel like she has a personal, expert makeup artist at home. Our technology reduces the time spent applying makeup, from up to 30 minutes down to only 2 minutes, and our system enables her to achieve any makeup look, individualized to her unique features.
Business model
BeautAI will generate revenue in five ways:
1. BeautAI Home System or commercial system with the option to lease-to-own
2. Airbrush makeup pod refills at a subscription frequency of every 2-3 months; 90% profit margin
3. Premium makeup looks through the BeautAI virtual marketplace
4. Pay-per-application in stores and retail partners
5. Other in-store beauty services and products
With $617M in projected revenue by Year 5, we expect to achieve a $2.8B projected valuation at a 6x sales multiple with just a .069% market capture of the beauty industry.
