Former NBA basketball gamer Kobe Bryant participates in a marketing occasion arranged by the sports brand name Nike, for the inauguration of the facilities enhancements of a regional basketball play area at the Jean-Jaures sports hall “Le Quartier”, in Paris on October 21, 2017.
Philippe Lopez | AFP | Getty Images
Art of Sport, individual healthcare business co-founded by Kobe Bryant, revealed it raised $6 million in a Series A financing round from financiers, consisting of Dallas Mavericks owner, Mark Cuban. The round was led by financial investment company CircleUp Growth Partners.
Art of Sports states it will utilize its financial investment to “aggressively expand the brand’s retail footprint, develop new products and drive national awareness both online and offline.” The business makes items consisting of antiperspirants and body wash that are readily available in Target and on Amazon.
“I’m looking forward to watching this company grow,” Mark Cuban stated in an e-mail to CNBC. “I think the products are great, which is why I invested,” the National Basketball Association group owner stated.
Co-established by Bryant in 2018, Art of Sport states it prevents chemicals such as sulfates in its items and utilizes just “natural, high-performance botanicals.” Cuban applauded Bryant’s “great business skills” and called him an “incredible asset for the company.”
Bryant passed away in a terrible helicopter crash on Jan. 26 killing 9 individuals, including his 13-year-old child Gianna Bryant. Before his death, the Los Angeles Lakers icon was likewise a financier in sports consume maker Bodyarmor and established equity capital company Bryant Stibel in 2013 with Jeff Stibel, the previous CEO of Web.com.
Other financiers in Art of Sport consist of Brooklyn Nets forward Wilson Chandler, Houston Rockets guard James Harden and National Football League pass receiver JuJu Smith-Schuster.
According to research study company Fior Markets, the individual care item market is approximated to surpass $750 billion by 2026. In a declaration, Benjamin Lee, handling director at CircleUp Growth Partners, stated the business’s “first-to-market brand position” puts it in a position for “accelerated, healthy growth.”
“With their momentum, authentic connection to their community, and differentiated product offerings, the company is ready to lead the personal care industry into a new era,” Lee stated.