Olamide Olowe, a Nigerian 26-year-old entrepreneur becomes youngest black woman to raise over $10 million in funding.
She is the CEO of Topicals brand, Her skincare company, which creates safe, effective products for all skin tones, received the capital injection in its most recent funding round led by consumer-focused investment firm CAVU Consumer Partners.
The fastest-growing skincare brand at Sephora, raised $2.6 million. Olowe also got another funding of $10 million to expand the company and fuel brand awareness through an effective product campaign on TikTok and Instagram, as the firm continues to raise awareness about the link between mental health and skin conditions.
The funds will also be used to develop products to treat chronic skin conditions such as hyperpigmentation, eczema, and psoriasis.
Topicals have now raised a total of $15 million in venture funding since its inception in August 2020, as it continues to transform the way people feel about their skin through effective products and mental health advocacy, which continues to appeal to Gen-Z consumers.
In keeping with its commitment to raising awareness about the link between mental health and skin conditions, the brand has donated more than $50,000 to nonprofits that provide mental health resources to marginalized communities.
As it continues to develop products to address chronic skin issues such as hyperpigmentation, eczema, and psoriasis, the recent funding will put Topicals on track to launch a 12-month accelerator program to support nonprofits in the mental health space.
Olowe, who spent much of her childhood dealing with chronic skin conditions such as hyperpigmentation, advises young people with entrepreneurial aspirations not to wait.
“Don’t even consider what you can’t do,” she advised, “just ask why not me?”
Olowe, a serial entrepreneur who recently graduated from the University of California, Los Angeles (UCLA), is the former co-founder of SheaGIRL, a Sundial Brands subsidiary now owned by Unilever. She is also the youngest Black woman to raise $1 million and $2.6 million in venture funding. The following are her tips to be a successful entrepreneur
- Identify your purpose, your brand ethos, and stick to it.
- Don’t shy away from culture.
- Find true partners that share your vision and support your mission