Althea sits pretty with $7m series B

Oct 30, 2017 • Callum Cyrus

Posco-backed Althea will use the capital to expand internationally and boost the range of beauty products it sells online.

Althea, a South Korea-based beauty e-commerce platform backed by steel conglomerate Posco, has secured $7m in series B funding, E27 has reported.

The round included venture capital firms FirstFloor Capital and Tekton Ventures, state-owned investment bank Korea Development Bank, Innoven Capital, which functions as the venture debt arm of Singaporean state-owned investment firm Temasek, and Bridges Alliance Partners.

Founded in 2015, Althea operates an online shopping portal for South Korean beauty products with offshoots in the US and five Asian…

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