Scandinavian Biolabs (SBL), a Danish innovator in the haircare industry, announced the closing of a €4 million investment round led by Auréa Group marking a significant milestone along the company’s growth journey. Auréa joins existing investors Blazar Capital on the board of SBL.
Founded in 2020, Scandinavian Biolabs has established itself as a leader in science-backed, non-invasive, preventative products targeting early-stage hair loss. The company’s flagship product, the Bio-Pilixin® Activation Serum, has been a game-changer in the market, and has been clinically tested for its positive effects.
Scandinavian Biolabs initially launched as a direct-to-consumer (DTC) brand, rapidly building a loyal customer base through its online platform. Building on this success, the brand has expanded into retail, and various pharmacies across multiple geographies.
Anders Reckendorff, CEO and Co-Founder of Scandinavian Biolabs, said: “We’ve built a strong foundation with our innovative products and proven that if we can provide our customers value and results, we will also have a strong business. We are excited to be joined by our new investors who can help us leapfrog our growth through their experience and know-how.”
With over 140,000 customers supported so far, and a Trustpilot score of 4.5 out of 5, Scandinavian Biolabs is on a fast track to become the preferred solution for reliable, tested and honest hair-care products that work with your body. SevenVentures (Part of Pro. SiebenSat.1 Group) is supporting the German expansion through a strategic TV collaboration.
The €4 million cash infusion from Auréa will enable Scandinavian Biolabs to pursue its ambitious growth plans more aggressively forging a leadership position in the UK, Germany, and the Nordics, while also entering the US market, scaling the business through an online offering, and expanding strategic retail such as pharmacies.
Auréa Fund commented: “Auréa is delighted to have been chosen by the Scandinavian Biolabs as their preferred investor for the experience and operational value-add that we bring in addition to the growth capital. We believe in the founders and the truly differentiated and efficacious products that they have developed. We are confident that together we will scale this into a significant international brand.”
Read the orginal article: https://www.eu-startups.com/2024/09/copenhagen-based-scandinavian-biolabs-gets-e4-million-to-expand-hair-loss-product-in-europe/
