Kiki World, a beauty brand disrupting with web3 technology for customer collaboration and ownership, secures a $7 million seed round from a16z and The Estée Lauder Companies’ New Incubation Ventures, among others.
The startup, founded last year, aims to empower consumers to co-create products and have a stake in the company’s ownership using blockchain technology. Jana Bobosikova, Kiki’s co-founder, emphasizes the shift from traditional loyalty experiences to a more engaging and rewarding model for users.
Community members participate in product decision-making through voting, earning rewards like free products and digital tokens. This approach not only enhances user engagement but also reduces inventory risks and resource consumption for Kiki.
While leveraging blockchain for transparency and reward mechanisms, Kiki ensures a seamless user experience, allowing participation without extensive blockchain knowledge. This strategy aligns with their vision of combining innovative technology with consumer-centric beauty solutions.
a16z’s support for Kiki reflects confidence in their unique approach and Bobosikova’s expertise in both beauty and web3. Kiki’s success highlights a growing trend of companies using blockchain to enhance customer engagement and loyalty, as seen in a16z’s previous investments in similar ventures.
Kiki’s current focus includes expanding product collections based on community preferences, with plans for future diversification beyond beauty products. Despite challenges in physical product manufacturing, Kiki remains committed to delivering what users want, emphasizing the power of customer-driven innovation.
