Powder Beauty, an e-commerce platform based in the UAE, has successfully concluded its pre-Series A funding round, although the exact amount raised has not been disclosed. The funding round was spearheaded by Sophia Collective and NKHEL, the family office investment fund founded by Nithin and Nikhil Kamath. It also saw contributions from several prominent regional angel investors, including Maha Taibah.
Founded in 2018 by Ayat Toufeeq, Amina Grimen, and Marriam Mossall, Powder Beauty specializes in eco-friendly beauty products. The new funding will support the company’s expansion efforts in Saudi Arabia, a market currently valued at $8.7 billion and expected to grow to $39 billion by 2033.
Powder Beauty stands out as the first female-owned and operated e-commerce platform in the Middle East focusing on conscious beauty and wellness. The company has established itself as a leader in the clean beauty sector, dedicated to offering high-quality, sustainable products while educating its customers.
Ayat Toufeeq, co-founder and CEO, expressed enthusiasm about the funding, stating, “We’re excited to enhance our position in this rapidly growing market, and we’re grateful for the support from investors like the Sophia Collective, whose vision aligns with ours.”
Sophia Collective, led by Sara and Magnus Olsson, is committed to bridging the investment gap faced by female founders. Sara Salhab, founder of Sophia Collective, highlighted the importance of supporting female-led startups, noting, “Female-founded startups received only 1% of Middle East VC funding in 2023. We’re thrilled to back Powder Beauty as they pave the way in the clean beauty sector and believe in their potential to lead this movement in the region.”
Powder Beauty’s mission is to provide customers with a curated selection of clean, cruelty-free, and sustainable beauty products from both local and international sources. This funding will enable the platform to introduce new exclusive brands and expand its product range, which currently includes skincare, haircare, makeup, and wellness items.
Marriam Mossalli, co-founder and CMO, emphasized the importance of increasing female representation in the beauty industry, stating, “While the beauty industry predominantly serves women, it remains largely controlled by men. We aim to encourage more female investors to transition from consumers to shareholders in this sector.”
With this new investment and strong industry support, Powder Beauty is set to make significant strides in redefining beauty standards across the Middle East by making ethical and sustainable products more accessible.
