Cutitronics, the East Kilbride-based multi-award-winning technology company 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.
“This additional scheduled investment marks a milestone in the Cutitronics journey. We are excited to be able to put real pace behind our ambitious plans to grow our team and develop our suite of technologies. The support we have received from Croda to date has been invaluable. Continuing this partnership will assist us in progressing our ambitious plans for 2019 and beyond”
The additional investment will provide Cutitronics with an opportunity to develop design updates for its innovative CutiTron™ device, user and compliance testing and pilot manufacture, which is anticipated to result in the first customisable commercial device.
CutiTron’s further development follows extensive collaboration with skin and beauty care companies. Its novel handheld device, which assesses skin health and prepares it for the optimum delivery of the skin care formulation it dispatches, provides users with an in-depth analysis of their skin needs, even taking into consideration such aspects as environmental conditions.
Sandra Breene, President of Personal Care & North America at Croda, and a non-executive director of Cutitronics, said: “to be part of Cutitronics at such an exciting time in its development is wonderful.
“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.”
Cutitronics, which is based in East Kilbride’s Scottish Enterprise Technology Park is highly committed to building a global business from its base in Scotland and anticipates a doubling of head count this year.