French Tattoo Removal Innovator Ray Studios Raises €10 Million For European Expansion

The funding round was co-led by Factory Capital and Nickleby Capital, the latter of which previously led the company’s first two rounds. Existing investors, including US fund Gaingels and several international business angels, also participated.

David Rodriguez, CEO of Ray studios says: “This new round of funding allows us to accelerate our ambition: to expand Ray studios across Europe while continuing to raise the standards of safety, effectiveness, and medical excellence in tattoo removal. The loyalty of our historical investors, combined with the arrival of Factory Capital, is a strong validation of our model and long-term vision.”

Recent 2025 activity on EU-Startups highlights steady investment in medical aesthetics and dermatology, particularly in clinically driven and technology-enhanced services.

France’s Innerskin secured €12.8 million to expand its network of aesthetic centres while UK-based Skin Analytics raised €17.5 million to scale its AI-powered skin cancer detection platform across Europe. M2care closed a €26 million round to accelerate new HealthTech projects including dermatology-focused initiatives.

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Together, these financings total approximately €56 million reflecting strong investor confidence in clinical innovation within the skin-health sector.

In this context, Ray Studios’ €10 million raise aligns with a broader European push to scale medical-grade aesthetic services. Its French origins place it alongside other domestic players, such as Innerskin and M2care, which have also drawn notable investment in 2025.

Founded in 2021, Ray Studios integrates medical expertise, advanced technology, and a science-driven approach. Its proprietary RsAP (Ray Studios Advanced Performance) protocol ensures highly effective, safe treatments under rigorous clinical standards and continuous innovation.

Ray Studios is reportedly the only international network in Europe fully dedicated to laser tattoo removal performed exclusively by qualified medical doctors using state-of-the-art technology.

Following its 2024 funding round, the company more than doubled both its revenue and network size in 2025, expanding across France, Spain, and Belgium to reach 20 studios.

About Ray Studios

Ray Studios is Europe’s only international network fully dedicated to laser tattoo removal performed exclusively by qualified medical doctors. Founded in 2021 the company combines medical expertise, advanced technology, and its proprietary RsAP protocol to deliver safe, effective, and clinically driven treatments, helping clients correct tattoos with precision and care.