Copenhagen-based Scandinavian Biolabs, a personal care product manufacturing startup, has raised €4 million in a round led by Auréa Group, with participation from Blazar Capital and SevenVentures. The fresh capital will enable Scandinavian Biolabs to expand into new markets like the US and strengthen its position in the UK, Germany, and the Nordics.
- Founded in 2021 by Anders Reckendorff, Christopher Haslund, Niels Konradi, and Christian Harboe, Scandinavian Biolabs develops non-toxic, science-backed solutions for hair growth.
- The startup addresses hair loss with its unique Bio-Pilixin Formula, which promotes healthier, stronger hair growth and extends the life of hair fibers, offering a natural solution to hair restoration.
- Scandinavian Biolabs serves over 140,000 customers and offers a range of drug-free, clinically tested, dermatologically approved products for both men and women. Their products feature a bio-optimized formula and are 100% vegan.
Details of the deal
- The fresh round was led by Aurea, a Paris-based venture capital firm that builds a "New Age" Beauty & Personal Care company by acquiring and managing premium brands while preserving the founders' vision. Existing investors Danish VC Blazar Capital and German VC SevenVentures also participated.
- The fresh funding will drive Scandinavian Biolabs' growth by expanding its presence in the UK, Germany, and the Nordics, entering the US market, growing its online business, and increasing its retail footprint, including in pharmacies.
