Sun protection company Solbari is getting a $10 million investment injection to expand its local and global footprint.
For almost a decade, Melbourne-based Solbari has pioneered the production of clothing, sun hats and accessories that protect the skin from the harsh Australian sun.
Solbari founder and CEO Johanna Young said she was shocked to find so many people being diagnosed with skin cancer when she moved to Australia more than 10 years ago.
When her husband had a skin cancer scare, she quit her job working in finance to develop sun-protective garments.
All fabrics block some harmful radiation but the yarn, weave or knit as well as stretch, condition and finishing add protection. Every colour in every fabric is submitted for testing after being developed by the research and development team, the company said.
Solbari has grown from 10 employees to 25 in the past three years, and caught the eye of the Australian Business Growth Fund (ABGF) which champions small and medium-sized businesses.
Ghazaleh Lyari, co-head of investments at ABGF, said investing in Solbari was particularly compelling because it was serving customers with health concerns.
"The products are not considered as discretionary spending but rather essential items," she said.
Future strategic partnerships could include organisations whose employees work outdoors, such as council workers, construction workers, childcare workers and sports clubs.
The company said it has invested in products that not only meet but exceed international standards for UV protection.
As a specialist sun protection brand, all Solbari products undergo rigorous testing to ensure it is Ultra Protection Factor (UPF) 50+.
The latest deal brings ABGF’s total investments in Australian businesses to $153 million.
