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Reckitt Benckiser, Founders Factory form JV for startups

Reckitt Benckiser Group PLC on Aug. 5 said it launched a joint venture with Founders Factory Ltd. called Founders Factory Hygiene and Home.

The new entity will specialize in discovering and developing technology startups that focus on consumer products.

Reckitt Benckiser will provide the joint venture with access to developing technologies, disruptive business models and entrepreneurial thinking, according to the release. It will also invest in other fast-growth startups that are part of Founders Factory's network.

"Our 70 strong team of digital operators, together with the experts at Reckitt Benckiser, will provide unparalleled opportunities for entrepreneurs exploring new technologies that create cleaner and safer home environments," Founders Factory co-founder and executive chairman Henry Lane Fox said in a statement.

The London-based venture capital firm has previously partnered with Marks & Spencer Group PLC to form a startup incubator in 2018. It also runs an accelerator program with L'Oréal SA.