Thursday, April 18, 2024
HomeFunding Stockholm-based MANTLE Raises over €2.8 Million in Funding

[Funding alert] Stockholm-based MANTLE Raises over €2.8 Million in Funding

Stockholm-based MANTLE raises over €2.8 million in funding. London-based Venrex, a venture capital firm, led this round. With this round, the company has raised over €8 million in capital overall.

Stockholm-based MANTLE raises over €2.8 million in funding. London-based Venrex, a venture capital firm, led this round. With this round, the company has raised over €8 million in capital overall.

With its recent launch, MANTLE has already established itself as one of the most well-liked new brands in this industry and the investment seeks to further extend the brand throughout Europe and the UK.

Read also – Austria-based Atlas Secures $4.5Million in Funding

MANTLE is making its debut in the US, Germany, and the Netherlands this year. The company plans to accelerate its research and product development efforts, which will be conducted from MANTLE’s facility in Sweden, with this newfound support.

MANTLE has introduced to the market a diverse range of inventive and potent biomimetic components in formulae that are both transforming and award-winning. Its products are made with formulae that are intended to reinforce the skin barrier and permeate all layers of the skin.

Read also – London-based Device Authority Secures $7Million in Series A Round Funding

Stina Lönnkvist, a branding expert, and investor and entrepreneur Josefin Landgård, who had previously co-founded the unicorn in digital healthcare, Livi, launched MANTLE.

MANTLE saw year-over-year growth of more than 80% in 2023, and the company’s notable retention rate was maintained by customer loyalty and the desire for new product releases. Recurring clients often make purchases from MANTLE every six weeks.

Read also – Düsseldorf-based Kauz Secures €2.3 Million in Funding

Josefin Landgård, CEO and co-founder at MANTLE stated: “It feels fantastic to enter the year with Venrex as new shareholders. Their backing is a testament to the brilliant company that we have built so far, and the immense potential to grow from here. We started MANTLE to change the narrative around beauty, empowering women to embrace life and the traces it leaves on our skin. We do this by providing innovative and world-class formulas rooted in science and feel honoured to see our customers coming back to MANTLE time and time again. With Venrex on board, we look forward to further expanding our footprint and bringing transformative formulations to more customers across Europe and in the US.”

Tom Fleming, Founder and Partner at Venrex commented: “We are excited to join MANTLE’s journey as new shareholders. Venrex looks to back exceptional founders who meet the needs of modern consumers in innovative and tech-forward ways. We have been impressed by the cult following MANTLE has built in Scandinavia, driven by their relentless customer focus and their transformative approach to ingredient combinations and delivery. We are confident in their ability to build their customer base and business elsewhere in Europe, and beyond.”

About MANTLE

The acid mantle of the skin is referenced in the word MANTLE. The uppermost layer of the skin barrier, known as the acid mantle, is a delicate, slightly acidic film that serves as the body’s first line of defence against bacteria and germs. Supporting the acid mantle and bolstering the skin barrier have been the main goals of all MANTLE formulations since the beginning.

Read also – Copenhagen-based Pluto.markets Secures €2.4 Million in Funding

All skin types can benefit from MANTLE’s solutions, which combine mild but potent actives with nourishing, barrier-strengthening botanicals to provide benefits without upsetting the acid mantle.

- Advertisement -
RELATED ARTICLES
- Advertisment -

Most Popular