By:Nghiinomenwa-vali Erastus
Ilotu Cosmetics, an all-Namibian cosmetic company, that specialises in the production of essential oil based products, has received a boost from an angel investor who purchased a stake in the company, the Namibia Business Angel Network (Naban) last week.
Angel investors are wealthy private investors focused on financing small business ventures in exchange for equity. Unlike a venture capital firm that uses an investment fund, angels use their own net worth.
The capital injection by the angel investor is to assist Ilotu Cosmetics as an emerging enterprise in revamping its marketing plan to expand in the regional market.
Naban angel investor, Asteria Ambata Pirola, now a strategic partner of Ilotu Cosmetics, is a chief executive of another startup, Billet, and Brand Strategist for a Swedish based company called: NordicTB. She is based in Milan, Italy.
She is expected to bring extensive experience to IlotuCosmeticsin terms of strategy formulation, risk management, brand positioning, and access to European-based networks.
Her expertise is also further expected to bolster IlotuCosmetics’ journey towards scaling continentally and internationally as the company plans to expand in other markets.
“It is an honour to be able to invest in IlotuCosmetics to support and advise Lilly as she continues to steward her business towards success,” Pirola said, adding that Ilotu Cosmetics is an embodiment of innovation, resilience, and dedication to promoting well-being through organic and natural products.
Ilotu Cosmetics, founded in 2017 by Lilly Masule, is an innovator in the health and beauty sector.
“We are beyond grateful to have received this investment from Pirola through Naban. Our energy and commitment are invigorated,” Masule said.
She explained that the investment will support the company’s diversification of revenue streams, enhancement of their sales channels, consultation, and wellness services.
Moreover, it will assist in their product documentation to meet international export standards, packaging, and marketing.
Masule also said the investment will empower IlotuCosmetics to be able to expand beyond Namibia and Africa.
She narrated that her entrepreneurial journey began at the age of 16 when she realised the general need for the products she required was not on store shelves as there were not many organic options available at the time to help with her sensitive skin.
Lilly’s motivation was also further fueled by a family tragedy when a relative succumbed to skin cancer.
The loss inspired her to delve deeper into understanding various skin and hair disorders and to develop solutions that could make a difference.
Suffering from sensitive skin herself, Lilly used her knowledge to create products that worked for her.
This personal experience eventually led to the founding of Ilotu Cosmetics.
The company also serves individuals with albinism, babies, toddlers, and organic makeup enthusiasts.
Naban is a member-based organisation comprising of angel investors (individuals, investment clubs and organisations). Naban aims to champion angel investing into Namibian start-up and early stage companies. These companies often have great potential but are too early stage for venture capital investment and aren’t generating enough cashflow to be able to repay bank debt and also often need some mentoring. Naban aims to link those entrepreneurs to investors who have the risk appetite to invest at this stage and can hopefully mentor and assist the investee companies succeed.Email: erastus@thevillager.com.na