RAFIQ cosmetics

RAFIQ cosmetics, a South Korean-based company established in January 2017 by CEO Beom-Joo Lee, operates as a technology-driven cosmetic enterprise. Lee, a veteran of the cosmetics industry since 2004, founded the company with the mission to deliver products with genuinely effective ingredients. The firm functions primarily as a technology-based ODM/OEM (Original Design Manufacturer/Original Equipment Manufacturer), providing comprehensive services from product planning and development to production, quality control, and delivery for other cosmetics brands.

The company's core competency lies in its proprietary 'SofTech' technology, a method for softening natural plant materials like flowers, leaves, fruit peels, and seaweed. This process allows for the direct incorporation of these softened botanicals into cosmetic formulations without a conventional extraction step. The benefit of this technique is the ability to deliver the plant's active compounds directly to the skin, as the softened materials dissolve with the gentle friction of application. Building on this, RAFIQ has developed 'SoftFerm,' which integrates bioconversion technology with the softened plants to maximize skin benefits, and a 'Zero-waste upcycling' technology. This upcycling process is particularly notable for its application to by-products from the food and beverage industry, such as brewer's spent grain, turning potential waste into valuable cosmetic ingredients.

RAFIQ's business model is centered on B2B partnerships, leveraging its unique raw material and formulation technologies to provide solutions for client companies. Financially, the company has secured multiple rounds of funding, including a pre-series A round of 1.5 billion KRW in December 2020 and a Series A investment of 4 billion KRW in mid-2022 from investors like Quantum Ventures Korea, Hana Ventures, and Enlight Ventures. These funds were earmarked for expanding factory production facilities and recruiting talent in R&D, marketing, and sales. The company has achieved significant recognition, winning numerous awards, including a grand prize at the 2021 Marine and Fisheries Business Contest and an excellence award at the K-Startup Grand Challenge.

Keywords: cosmetic raw materials, plant softening technology, SofTech, ODM cosmetics, OEM cosmetics, upcycling beauty, zero-waste cosmetics, B2B cosmetics, Beom-Joo Lee, natural ingredient cosmetics, sustainable beauty, Korean beauty technology, cosmetic formulation, bioconversion technology, skincare ingredient supplier, clean beauty, eco-friendly cosmetics, food by-product upcycling, cosmetic R&D, private label cosmetics