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ModiFace

modiface.com

Founded Year

2006

Stage

Acquired | Acquired

About ModiFace

ModiFace provides reality technology to the beauty industry It offers scientifically validated skin assessment and simulation, photo-realistic makeup simulation with dynamic lighting adaption, and photo-realistic hair color and style simulation. In addition, it offers 3D facial feature tracking, measures, and tracks movements and expressions. The company was founded in 2006 and is based in Toronto, Canada. In March 2018, ModiFace was acquired by L'Oreal. The terms of the transaction were not disclosed.

Headquarters Location

7 St. Thomas Street

Toronto, Ontario, M5S 2B7,

Canada

647 350 6525

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Research containing ModiFace

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned ModiFace in 3 CB Insights research briefs, most recently on Jun 15, 2022.

Expert Collections containing ModiFace

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

ModiFace is included in 6 Expert Collections, including AR/VR.

A

AR/VR

1,370 items

B

Beauty & Personal Care

2,067 items

Startups in the beauty & personal care space, including cosmetics brands, shaving startups, on-demand beauty services, salon management platforms, and more.

M

Market Research & Consumer Insights

676 items

This collection is comprised of companies technology to better identify emerging trends and improve product development. It also includes companies helping brands and retailers conduct market research to learn about target shoppers, like their preferences, habits, and behaviors.

C

Customer Service Tech

696 items

Companies offering technology-driven solutions for brands and retailers to enable customer service before, during, and after in-store and online shopping.

D

Digital Content & Synthetic Media

382 items

The Synthetic Media collection includes companies that use artificial intelligence to generate, edit, or enable digital content under all forms, including images, videos, audio, and text, among others.

S

Store management tech (In-store retail tech)

301 items

ModiFace Patents

ModiFace has filed 1 patent.

The 3 most popular patent topics include:

  • Artificial neural networks
  • Machine learning
  • Classification algorithms
patents chart

Application Date

Grant Date

Title

Related Topics

Status

9/25/2018

3/23/2021

Conservation and restoration, Cosmetics, Collections care, Rich Internet application frameworks, Museology

Grant

Application Date

9/25/2018

Grant Date

3/23/2021

Title

Related Topics

Conservation and restoration, Cosmetics, Collections care, Rich Internet application frameworks, Museology

Status

Grant

Latest ModiFace News

L’Oréal and Meta launch metaverse startup accelerator

Oct 25, 2022

Sign Up Enter your email to stay updated with newsletters, event invites & promotions via email from Vogue Business. You can unsubscribe at any time. Please see our privacy policy for more information. Close L’Oréal and Meta launch metaverse startup accelerator The programme, which will support creative startups in fields such as augmented reality and avatar creation, signals L’Oréal’s commitment to carving out a competitive edge in Web3. L’Oréal, Meta and French business school HEC Paris are joining forces to launch a startup acceleration program dedicated to creativity in the metaverse. The programme will support at least five startups that specialise in 3D production, augmented reality (AR), virtual reality (VR), mixed reality, avatar creation, portability in user experience, token economy or other topics related to the metaverse and Web3 . (They do not have to be specifically related to the beauty industry.) Read More It will be housed in the Meta space within Station F, in the 13th arrondissement of Paris, which bills itself as the world’s biggest startup campus. Applications open until 20 November; a jury composed of Meta, L’Oréal and HEC members as well as entrepreneurs and investors will select the startups in December; and the programme will run from January to June 2023. Successful applicants will be offered mentorship and access to experts and investors. “It brings a lot of young talents together. They’re the future. Imagine the massive creative energy that it generates,” says L’Oréal chief digital and marketing officer Asmita Dubey. “The benefit for us is that we can use that creativity for our DMI [international marketing direction] and brands. So, of course we will leverage that.” Meta vice president for southern Europe, Laurent Solly, says: “We are proud to associate ourselves with L’Oréal thanks to this ambitious project, which aims to support the French startup ecosystem that will have a key role in the building of a shared, creative and inclusive metaverse. ” L’Oréal, Meta and HEC Paris are joining forces to launch a startup acceleration program dedicated to creativity in the metaverse. Photo: Courtesy of L'Oréal By Rachel Cernansky Some naysayers believe the hype around NFTs and all things Web3 is fading following the crypto crash earlier this year . However, fashion, luxury and beauty brands continue to invest in new projects. In the latest move, on Monday, LVMH-owned luxury luggage brand Rimowa unveiled a new tie-up with Nike-owned digital fashion startup Rtfkt. And last week, Farfetch unveiled the eight startups selected for its own accelerator, designed to help the luxury fashion industry scale in Web3 and metaverse technologies. L’Oréal also remains committed to Web3. Several brands in its stable, including YSL Beauty, Lancôme, Mugler, Armani Beauty and Nyx Professional Makeup have introduced a flurry of Web3 initiatives. “If you look at Web2, live streaming, image recognition, voice, cloud — all of that is very vibrant,” says Dubey. “It's a very charged digital space. Social commerce is booming for us. There is a strong base for Web2 deployment. And we are very excited about Web3 and the metaverse. We are moving from O+O (online + offline), to O+O+O (online + offline + on chain).” Several brands in L’Oréal's roster, including Armani Beauty, have introduced Web3 initiatives. Photo: Courtesy of L'Oréal This summer, the French beauty conglomerate appointed Camille Kroely to the newly created role of chief metaverse and Web3 officer. Part of her remit is to look at how to enter the space responsibly. “It's our role as the number one in beauty to make sure that we stay true to our commitments and core values,” says Kroely, noting for example that Nyx chose the Ethereum blockchain because it uses less energy than some alternatives. It also hopes to extend its existing technologies into this new space. In 2018, L’Oréal acquired AR beauty company Modiface. In 2021, L’Oréal and Meta (then Facebook) announced a platform integration that used Modiface to bring AR-powered makeup try-ons to Instagram. “We are convinced that the acquisition of Modiface is a competitive advantage when we enter Web3 and the metaverse,” says Kroely. “AR beauty and makeup is growing everyday. More and more consumers are using it,” Dubey adds.

ModiFace Frequently Asked Questions (FAQ)

  • When was ModiFace founded?

    ModiFace was founded in 2006.

  • Where is ModiFace's headquarters?

    ModiFace's headquarters is located at 7 St. Thomas Street, Toronto.

  • What is ModiFace's latest funding round?

    ModiFace's latest funding round is Acquired.

  • Who are the investors of ModiFace?

    Investors of ModiFace include L'Oreal.

  • Who are ModiFace's competitors?

    Competitors of ModiFace include Obsess, Perfect Corp , Scandit, Cappasity, Dent Reality and 13 more.

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