Croda, the UK specialty chemicals company, has made its first ever investment in a technology company.
Cutitronics is a UK university spin-off, which has developed a technology dubbed the ‘Fitbit for skin’.
With Croda’s investment, the CutiTron technology will reach pre-market readiness within 12 months and could be on shelves in two years.
CutiTron works by enabling its user to assess their skin health, as a Fitbit wearer is able to track their activity levels.
The results are designed to empower consumers to know precisely how much product they should use to rebalance their skin’s hydration levels, for example.
Engineer Dr David Heath, Founder and CEO of Cutitronics, said: “Currently people apply products using guesswork, which affects its results.
“Research has found that the average British woman spends £70,000 on their appearance during their lifetime. This is why we have created a menu of patented CutiTron technology, which enables assessment of personal skin health.”
Sandra Breene, Croda’s President of Personal Care & North America, will join the Cutitronics Board as a a part-time Non-Executive officer.
Breene said: “I am delighted to be personally involved in this partnership, which will not only allow us at Croda to be part of this intelligent application platform, but it will also enable us to utilise the very latest digital technology to gain greater insight of consumer behaviour.”
