Ulta Beauty has embarked on the journey to digitise the beauty industry and launched Prisma Ventures. The beauty brand would test, learn, deploy, and scale low-code AI innovation platforms. Prama Bhatt, the chief digital officer at Ulta Beauty, revealed that this platform would help the brand build solid relationships with beauty and retail tech startups. Fund players would have access to Ulta Beauty’s innovation team and consumer insights through Prisma Ventures. The platform would include AR, VR and metaverse, social commerce and Tech-Powered customised beauty essentials and in-store services. The tech platform would invest $20 million in emerging technology startups.
Full story: BusinessWire
