02.08.24
Mantle, the Stockholm-born company developing clean and clinical skincare since 2020, has raised $2.58 million in a round led by London-based venture capital firm Venrex.
The round brings the company’s total funding to date to $7.42 million.
The investment will be used towards further European expansion of Mantle, including in the UK, where it recently launched.
Mantle’s assortment ranges from face moisturizers, masks and serums to intimate care products, body creams and scrubs.
This year, Mantle is launching in the US, Germany and the Netherlands. With this new backing, the company will also be accelerating its research and product development, all taking place from Mantle’s lab in Sweden.
Mantle was founded by branding specialist Stina Lönnkvist with entrepreneur and investor, Josefin Landgård, who previously co-founded digital healthcare unicorn Livi. In 2023, Mantle’s year-on-year growth exceeded 80% with a significant retention rate upheld by repeat purchases and demand for new product launches. On average, recurring customers make a purchase from Mantle every six weeks.
Mantle’s products 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.
“It feels fantastic to enter the year with Venrex as new shareholders,” said Landgård, CEO and co-founder at Mantle. “Their backing is testament to the brilliant company that we have built so far, and the immense potential to grow from here.”
Since its inception, Mantle has brought to market award-winning and transformative formulas incorporating a wide variety of innovative and active biomimetic ingredients. Its products are designed to ensure that formulas penetrate all layers of the skin and strengthen the skin barrier, per the company.