THG raises £95.4 million (US$124.5 million) in funding to demerge its technology arm, Ingenuity. The move comes after the e-commerce platform experienced financial losses. Personal Care Insights previously reported that the company’s stock dropped significantly last month after the British e-commerce company missed earnings estimates. At that time, THG said it might spin off Ingenuity to help boost its bottom line. The stock has dropped over 90% since its IPO in 2020.
