Regenerative skin care products company Elevai Labs Inc. has raised $3 million in a sale of debt, equity and options.
The company is based in Newport Beach, but its laboratory, production area and offices are in Folsom.
The company also announced it has brought on a cosmetics industry veteran as a strategic adviser.
Elevai raised $3 million of the $4.3 million it was seeking, according to a filling this month with the Securities and Exchange Commission.
The company had previously raised $1.1 million in a seed round, according to venture capital tracking site Crunchbase.
Elevai develops and makes topical aesthetic and medical-grade skin care products, mostly for the physician-dispensed market, said Brenda Buechler, chief marketing officer with the company.
“These are high-end, medical-grade therapeutics,” she said. The company is working on several new products, some of which can be applied by the consumer.
Elevai is a 2019 startup working on advanced stem cell exosome technology for post-procedure aesthetic skin care patients. Exosomes are components of cell vesicles that contain nucleic acids, proteins, fats and metabolites needed for cell function and reproduction.
The company today announced that cosmetic industry veteran James Headley has joined Elevai as a strategic adviser. Headley was previously CEO of ZO Skin Health, and before that worked with The Estée Lauder Cos. Inc. (NYSE: EL) and French company L’Oréal S.A.
Since its launch, Elevai previously occupied lab space and offices in coworking and prototyping space Inventopia in Davis. It moved to a larger lab in Folsom in September, Buechler said.
Elevai CEO and lead scientist is Dr. Jordan Plews, a stem cell researcher.
Elevai is working with the University of California Davis and California State University Sacramento to find interns and employees, Buechler said. The company has 10 employees.
