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Cutitronics, the East Kilbride firm “focused on enhancing consumer skin care and beauty regimes through intelligent product application”, has received additional, scheduled investment from its minority shareholder, Croda International plc.
Croda International, a FTSE 100 quoted business which produces high performance ingredients and technologies for some of the world’s biggest and most successful brands, made its initial investment in Cutitronics in July 2017.
Founder and chief executive officer of Cutitronics, Dr David Heath who led the spin-out of the business from the University of Strathclyde in 2014, said: “We have been highly successful in developing our technologies and are now offering white-labelled access to our patented platform and devices to global premium personal care brands in order to optimise consumer skin care and beauty regimes.”
Sandra Breene, President of Personal Care & North America at Croda, and a non-executive director of Cutitronics, said: “We believe that a novel device such as CutiTron, and the wealth of data around skin care routines and consumer behaviour it will provide, will be invaluable for us in creating innovative, sustainable next generation ingredients for the personal care industry.” 2 January
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