LONDON — Iris Ventures has made a multimillion-dollar minority investment in Goddess Maintenance Co. , a biotech beauty company that develops solutions to promote the long-term health and vitality of hair.

Goddess, which is targeted at salon professionals, was cofounded by four entrepreneurs. Two of them, Denise Russell and Edward Connaghan, are beauty investors and were instrumental in building the Olaplex and K18 businesses. The others are sisters Lauren Vesler and Manda Mason, cofounders of W Nail Bar, an Ohio-based chain of nail and beauty salons.

Goddess cofounders have developed and trademarked a new hair category called “bioprotection.” Their products contain the proprietary Goddess molecule, which is meant to strengthen the natural structure of hair, defend it against en

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