Covalo, a Switzerland-based platform for ingredient discovery and data management in the personal care industry, has raised €3.5 million in a funding extension. The round was led by Hi Inov, with participation from existing investors HTGF and seed+speed Ventures.
The company addresses challenges in managing ingredient data, which is often fragmented across multiple systems, formats, and stakeholders. Product development typically requires handling large volumes of technical, regulatory, and sustainability information, creating operational complexity for R&D, regulatory, and procurement teams.
According to co-founder and co-CEO Yann Chilvers, inefficiencies in how product data is managed and shared contribute to delays and unsuccessful product launches, while limiting the industry’s ability to respond to regulatory changes and evolving market demands.
Covalo provides a platform that connects suppliers and brands through structured, standardised data flows, replacing manual processes such as emails, spreadsheets, and PDFs. By integrating directly with suppliers’ product information management systems and brands’ internal workflows, it enables real-time updates and more efficient data exchange across the product lifecycle.
The platform is used by a broad network of suppliers and brands across the personal care ecosystem and works with industry organisations to support data integration, regulatory processes, and sustainability initiatives.
The funding will support the expansion of Covalo’s data platform and enterprise offering, including the development of AI-based tools for workflow automation, data processing, and regulatory compliance, as the company continues to scale its infrastructure for the personal care industry.
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