Ghazaleh Lyari, ABGF Co-Head of Investments, and Johanna Young, CEO of Solbari. Source: ABGF
The Australian Business Growth Fund has slip, slop, slapped a $10 million investment into Solbari, the Melbourne-born brand dedicated to stylish but highly sun-protective clothing.
Solbari was founded in 2014 by Johanna Young, who departed a career in finance to meet a gap in the market: lightweight and breathable garments designed to cut down on ultraviolet (UV) radiation exposure.
Australia faces uniquely high levels of UV exposure, which contributes to one of the highest incidences of skin cancer in the world.
Ultra-protective sunscreens are easy to find on supermarket shelves, but the high temperatures associated with the Australian summer make full clothing coverage a hard sell for many.
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