Potion

Potion

AI platform for beauty product development

About Potion

Simplify's Rating
Why Potion is rated
B+
Rated B on Competitive Edge
Rated B on Growth Potential
Rated A on Differentiation

Industries

AI & Machine Learning

Consumer Goods

Company Size

1-10

Company Stage

Seed

Total Funding

$130K

Headquarters

San Francisco, California

Founded

2018

Overview

Potion AI provides AI-powered tools designed to enhance the beauty and personal care industry. Their main product is a platform that features an advanced search engine, allowing users to discover ingredients using natural language, which streamlines the ingredient discovery process. Additionally, Potion AI offers reverse engineering capabilities that enable formulators to analyze existing products by inputting their ingredient lists, helping to identify raw materials and predict their concentration ranges. This functionality simplifies the formulation process for both small businesses and large corporations. Unlike many competitors, Potion AI prioritizes security and privacy, ensuring that proprietary data is protected. The company's goal is to democratize access to advanced technology in the beauty sector, allowing formulators to focus on creativity and strategy while improving the efficiency of product development.

YC Company
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Simplify's Take

What believers are saying

  • AI-driven ingredient discovery is increasingly popular in the beauty industry.
  • NLP in AI tools enhances user experience with intuitive searches.
  • Democratization of AI technology makes advanced tools accessible to smaller businesses.

What critics are saying

  • Emerging AI competitors may dilute Potion's market share.
  • Regulatory challenges concerning data privacy and security are increasing.
  • Rapid AI development may lead to obsolescence of current technologies.

What makes Potion unique

  • Potion AI offers a unique AI-powered search engine for ingredient discovery.
  • The platform's reverse engineering feature predicts raw material concentrations from INCI lists.
  • Potion AI prioritizes security and privacy, protecting proprietary data and intellectual property.

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Funding

Total Funding

$130k

Below

Industry Average

Funded Over

1 Rounds

Notable Investors:
Seed funding is usually the first official round after pre-seed, when a startup has a prototype or concept. It’s typically used to develop the product, test the market, and start building the team. Investors here are often angel investors or early-stage venture capitalists.
Seed Funding Comparison
Below Average

Industry standards

$3.3M
$130k
Potion
$1.5M
Slack
$2M
Netflix
$2.3M
Instacart
$3M
Robinhood

Benefits

Hybrid Work Options

Company News

PR Newswire
May 2nd, 2024
Independent Creative Strategy, Branding And Experience Design Agency Hyperquake Acquires Award-Winning Design And Technology Studio Potion

New Relationship Strengthens Both Entities While Expanding Storybuilding® Group Creative and Digital ExpertiseCINCINNATI and NEW YORK, May 2, 2024 /PRNewswire/ -- Hyperquake, the independent creative strategy, branding and experience design agency, is very proud to announce its immediate acquisition of Brooklyn-based Potion.Launched in 2005, under the leadership of Founder Phillip R. Tiongson, Potion has built a far-reaching reputation and track-record for innovation in inclusive digital storytelling and immersive content creation. Championing universal design values through its groundbreaking work for clients spanning leading brands, agencies and cultural institutions, Potion's awards recognition includes a Webby Award; several top MUSE, Core77 Design and APEX Awards; multiple finalist honors in the National Design Awards; as well as inclusion in Communications Arts Interactive Annuals and Fast Company's Most Innovative Companies, among many other prestigious accolades.While financial terms of the deal were not disclosed, Potion will retain its identity, its full staff and its headquarters in the historic Brooklyn Navy Yard. Of vital importance to all parties are the heightened opportunities to collaborate in bringing expanded offerings to their clients, especially through Hyperquake's Storybuilding® group, which is dedicated to innovation in experience design.According to Hyperquake's CEO Colin Crotty, this strategic acquisition provides his company with its first presence in New York City, the media capital of the world. The development also reflects Hyperquake's commitment to expanding digital offerings and enhancing creative capabilities to better serve clients in a world that is increasingly digital-first."We are absolutely thrilled to welcome Potion's ultra-talented team to the Hyperquake family," Crotty began. "This win-win development allows us to offer our clients an unlimited range of digital solutions through our Storybuilding expertise, where Potion pairs seamlessly

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