Mantle, a Stockholm-based skincare company known for its clean and clinical formulations, has announced a £2.4 million investment round led by British venture capital firm Venrex, whose portfolio includes brands like Revolut, Charlotte Tilbury, JustEat, and Lisa Eldridge.This brings the company’s total funding to date to £6.9 million.
Founded by Josefin Landgård, also a co-founder of digital healthcare unicorn Livi, and led by a team comprising 95% women, this startup was established in Stockholm in 2020 with a mission to transform the way we view beauty.
This female-founded company offers, “transformative products” formulated with “clean ingredients and high-performing actives” to deliver visible results without compromising on gentleness. The company is backed by investors like Venrex and angel investors like Sophia Bendz, Susanna Campbell, and Cristina Stenbeck. Not too long ago, German female founders raised €10.5M for promoting digital game-based learning for preschoolers as well.
How will Mantle use the investment
The funding will be used to further expand Mantle’s reach in Europe, including the UK, where it has already gained recognition as one of the most celebrated new brands in the skincare space. Additionally, Mantle plans to launch in the US, Germany, and the Netherlands this year. The company will also accelerate its research and product development activities in its own lab in Sweden.
The company’s CEO, Josefin Landgård told TFN that currently they are focused on the European market with upcoming US expansion plans. While still an emerging brand, they aim for future growth and wider industry impact.
Why Mantle’s products garners repeat customers
Since its launch in 2020, Mantle has garnered acclaim for its award-winning and transformative formulas featuring innovative biomimetic ingredients. Their products are designed to penetrate all layers of the skin and strengthen the skin barrier.
Josefin Landgård, CEO and co-founder of Mantle told TFN that their customers appreciate the effectiveness of their products, highlighting a key differentiator in the competitive landscape.
“We started Mantle to change the narrative around beauty, empowering women to embrace life and the traces it leaves on our skin,” says Josefin Landgård, CEO and co-founder of Mantle. “We do this by providing innovative and world-class formulas rooted in science.”
Founded by women, led by women
Mantle is a female-founded and women-led company, with 95% of its team comprising women. The company was established by branding specialist Stina Lönnkvist and entrepreneur and investor Josefin Landgård, who previously co-founded digital healthcare unicorn Livi.
Mantle’s impressive growth trajectory speaks volumes about their success. In 2023, they achieved over 80% year-on-year growth, with repeat purchases and demand for new launches driving a significant retention rate. On average, recurring customers make purchases every six weeks, highlighting their brand loyalty.
What does their investor say about Mantle’s vision
“We are excited to join Mantle’s journey as new shareholders,” comments Tom Fleming, Founder and Partner at Venrex. He further adds, “We are 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.”
Availability and product Range
Mantle’s products are available on their website and at premium retailers like Selfridges and Le Bon Marché. In the UK, they recently partnered with luxury hotel and members’ club, Estelle Manor, to stock their products in every room’s minibar. Their product range spans from face moisturisers, masks, and serums to intimate care products, body creams, and scrubs.
With its latest funding round and a clear vision for expansion, Mantle is up for continued growth and significant impact in the clean and clinical skincare space.
While there is an inherent and aggressive competition in this particular industry, Mantle’s commitment to science-backed formulas, female leadership, and customer empowerment positions them well to resonate with a global audience.