EXCLUSIVE: IEVA Raises 2.5 Million Euros in Funding

PARIS – IEVA — the recently launched brand linking beauty, wellbeing, tech and the environment — has raised 2.5 million euros via a convertible bonds issuance. The transaction, which is part of a second round of financing, was made via a private placement with CM-CIC Capital Innovation. The private equity concern is already a shareholder in IEVA, which launched at the end of January. The brand founded by Jean-Michel Karam intends to use the new funds in part for its commercial deployment plan. A first round of funding, which backed the development of IEVA solutions and their launch, was of about 3 million euros in the second half of 2016, with CM-CIC Capital Innovation, Karam and others. “We are very satisfied with the conditions of the implementation of this issuance, which is part of a 10 million euro second funding round planned in the next 24 months,” said the executive in a statement. IEVA is connected jewelry that measures environmental stressors and physical activity. It’s linked to a mobile application, which gives preventative and personalized recommendations based on the environmental information and answers to brief questions asked pertaining to a person’s level of expertise in beauty, and hair and skin preoccupations. At launch, product suggestions involved

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