2026-04-02
Covalo raises €3.5M to become the data layer for the personal care industry
Zurich-based Covalo raises €3.5M seed extension led by Hi inov to expand its ingredient data platform connecting 1,500 suppliers with 6,000 brands.
The Round
| Company | Covalo |
| HQ | Zurich, Switzerland |
| Amount | €3.5M |
| Round | Seed Extension |
| Date | 02 April 2026 |
| Total Raised | ~€7M |
What They Do
Covalo is a B2B data platform for the personal care industry. It connects ingredient suppliers directly with consumer goods brands, replacing the manual email-and-spreadsheet workflows that dominate ingredient discovery, compliance checking, and procurement in the sector.
The platform integrates with suppliers' product information management (PIM) systems and brands' R&D and product lifecycle management (PLM) tools, enabling real-time data flow for compliance certificates and ingredient approvals. Founded in 2021 by Yann Chilvers and Timo von Bargen (both former Clariant executives), Covalo now connects 1,500+ suppliers (including Givaudan and Symrise) with 6,000+ brands (including PUIG and La Prairie) across 145+ countries.
In 2025, user engagement grew 84%, with 1.3 million monthly interactions. Net revenue retention sits above 145%.
Investors
This Round
| Investor | Origin | Notes |
|---|---|---|
| Hi inov | France | Lead |
| HTGF | Germany | Returning |
| seed+speed Ventures | Germany | Returning |
Previous Funding
| Investor | Origin | Notes |
|---|---|---|
| HTGF | Germany | Seed |
| seed+speed Ventures | Germany | Seed |
Cap Table (Known)
| Investor | Round(s) | Origin |
|---|---|---|
| Hi inov | Seed Extension | France |
| HTGF | Seed, Seed Extension | Germany |
| seed+speed Ventures | Seed, Seed Extension | Germany |
Total disclosed funding: ~€7M across two tranches.
Use of Funds
Four priorities: building industry-specific AI agents for automated RFI (request for information) workflows, adding compliance verification capabilities, expanding data enrichment features, and developing full PIM/MDM (master data management) functionality. The team of 23 across 11 countries will grow to support these expansions.
Market Context
Ingredient data in personal care is fragmented across thousands of suppliers, each with their own formats and documentation standards. Brands typically manage supplier relationships through manual processes, making ingredient discovery and compliance tracking slow and error-prone.
Covalo sits in a similar space to platforms like Akeneo (France, PIM) and Salsify (US, product experience management) but focuses specifically on the personal care and cosmetics vertical. The 145% NRR and 84% engagement growth suggest the niche focus is paying off, with existing customers steadily expanding their usage across more supplier relationships and data workflows.