Croda International has announced they will be increasing their minority shareholding in the multi-awardwinning technology and digital device company, Cutitronics. Following the investment, Croda will remain a minority shareholder.
Croda initially invested in Cutitronics in July 2017, resulting in an exclusive commercial arrangement. This additional investment by Croda will provide Cutitronics with an opportunity to develop design updates for its 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. This 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 aspects such as environmental conditions.
Sandra Breene, president of Personal Care & North America at Croda, and a non-executive officer in Cutitronics as part of the original investment, commented: “To be part of Cutitronics at such an exciting time in their 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.”