Silicon Valley-based venture capital firm Altos Ventures has led a US$6.7-million investment in JK INSPIR, a South Korean manufacturer and distributor of eco-friendly consumer products.
JK INSPIR said the investment round was also participated by Gorilla Private Equity Fund and Clean Wrap, Korea’s leading food packaging company known for being the first in the industry to introduce non-toxic manufacturing technology.
Established in 2014, JK INSPIR manufactures and distributes eco-friendly consumer products focusing on feminine hygiene (AUDREY SUN brand) and oral care and skincare (The Baird Cosmetics) along with a soon-to-be-launched and environmentally conscientious beauty tool brand expected in early 2020.
JK INSPIR’s flagship brand, AUDREY SUN, also known as the ‘Pharmacy Sanitary Pad’, has grown at an average annual rate of more than 80 percent since its founding six years prior.
The company has established an Australian based brand center (Audrey Reefs Pty Ltd) to provide consumers with safe and high-quality products, along with JK Partners (global distribution) and JK Adetive (marketing agency) as JK INSPIR’s 100 percent subsidiaries.
“In a market that is heavily occupied by domestic and multinational companies, JK INSPIR has shown and is continuing to show rapid growth by introducing premium lifestyle brands with eco-friendly materials that embrace the sustainability of beauty and health of modern women,” said Altos Ventures partner Moonseok Oh.
In recent years, scandals have hit the sanitary pad market in several countries around the world. From counterfeit branded pads being manufactured in unhygienic factories to pads containing harmful chemicals beyond the threshold of what is allowed by governing bodies.
Due to these issues, consumers have actively searched for safer products, leading to the growth of organic and natural products in this sector, JK INSPIR said.
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However, too many countries have regulations that currently do not require pad manufacturers to list the components and materials used in their pads’ construction, making it more difficult for consumers to find out exactly what they’re using to manage their hygiene for their monthly cycle.
AUDREY SUN uses an approach that focuses on educating consumers on the current issues with conventional pads and provides solutions in the form of their new product AUDREY SUN Double Core™ pads.
The product aims to get ahead of these rising concerns by providing high quality pads with certified natural and organic components, using a completely chlorine-free bleaching process, being hypoallergenic, and tested to be free of toxic chemicals to provide the comfort and care that every woman deserves.
“We have been impressed by JK INSPIR’s innovation thus far and are excited to be a part of their journey and see what the future brings,” Oh said. – BusinessNewsAsia.com