Mantle, a Stockholm, Sweden-based skincare startup, raised £2.4M in funding.
The round, which brought the total amount to $6.9M, was led by Venrex.
The company intends to use the funds to further expand operations in the UK and Europe and towards an upcoming market entry into the US, and accelerate its research and product development efforts.
Led by Stina Lönnkvist and Josefin Landgård, Mantle is a skincare company whose products combine clean ingredients with actives to create formulas that are gentle on the skin. Its products, whose assortment ranges from face moisturisers, masks and serums to intimate care products, body creams and scrubs, are sold via its own website as well as by premium retailers such as Selfridges and Le Bon Marché. In the UK, it recently entered a partnership with luxury hotel and members’ club, Estelle Manor, which stocks Mantle’s skincare products in the minibars of every room.
Commenting on the news, Josefin Landgård said: “It feels fantastic to enter the year with Venrex as new shareholders. Their backing is 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.”
FinSMEs
08/02/2024