Practica Capital tells us they’ve now invested into Tokia.lt, a Lithuanian online marketplace that allows users to find make-up artists, nail art, hairdressing, and other beauty specialists by digging into their “looks”, video lessons, and reviews to book appointments. It sounds like what Stockholm’s Vint is doing for personal training, Tokia is trying to do for beauty services. Vint raised $1.8 million in seed funding, but who knows where Toika is on that spectrum.
The amount of funding into Tokia wasn’t disclosed, which bugs me because it defeats the purpose of a funding round announcement. Why would you tell the world you got a round of funding if you won’t share the only fact that gives your statement any weight? All it does is lead me to assume a company diluted their equity for an embarrassing amount of money, which isn’t newsworthy.
But, whatever. News is slow in the summer and Tokia is a company we haven’t heard of before, so we’ll use this excuse to check out.
Tokia has so far seen 13,000 users in their native Lithuania, where members can select from 300 registered professionals. With the funding Tokia is looking to expand on those numbers by spreading out geographically. Southern European locations, like France, Italy, and Spain are next up on the company’s targets due to these countries’ interest in decorative cosmetics and the high amount of social activity online by women.
“The investment will be devoted to a systematic improvement of the product and development of new functionality when expanding to foreign markets,” says Vygintas Ankudavičius, co-founder and CEO of TOKIA.LT in a statement.