A MELBOURNE-based company looking to combat the risk of skin cancer by selling ultra-protective clothing worldwide has secured $10 million in funding from the Australian Business Growth Fund (ABGF), reported Business News Australia.
Established in 2014 by CEO Johanna Young, Solbari sells a range of sun-protective clothing, hats and accessories, all of which are rated Ultra Protection Factor 50 .
To date, the brand has sold to more than 300,000 customers across 160 countries.
The capital injection from ABGF will fuel the company's local and global expansion plans, which include building on its presence in the US, Canada, New Zealand, and the UK.
Solbari is also looking to target younger Australians and grow its wholesale market presence, which currently makes up 10% of the business.
"ABGF's support will ensure our journey as a global leader in sun protection continues, further enabling our mission to empower people to live a sun-smart life," said Young.
According to Melanoma Institute Australia, the nation has one of the highest melanoma rates in the world, with one person diagnosed every 30 minutes and one death every six hours.
This is an issue that is close to Young, who left her career as an investment banker to start Solbari after her husband was confronted with his own risk of skin cancer.
"Many Australians do not apply enough sunscreen, forget to reapply, or neglect to use other sun protection measures," commented Young.
"I found that Australians were missing the education piece about prevention, and realised the critical need for accessible, well made and reliable sun-protective clothing," she added.
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