Stockholm-based startup Lace Laboratory, making high-quality lace underwear for home delivery, today announces that it has raised €1.8 million. Investors include Jacob de Geer, founder of iZettle, Susanna Campbell, investor and Director of the Board at Kinnevik among others. This latest round brings the total funding to date to €2.5 million.
The fresh funds will be used to expand globally, the UK being Lace Laboratory’s latest market entry, product development, and hiring.
Lace Laboratory was founded by Faye Flensburg and Felicia Lönnqvist in 2018. Since then, the company’s D2C-model has enabled its rapid expansion with over 100,000 orders placed by customers in 39 markets across Europe. Key to the startup’s success has been its community-driven product development, where thousands of women get to have their say on the brand’s fits and colours. Until now, the young company has been selling one style only, but in the autumn of 2021, it expanded its range with more styles, carefully designed in collaboration with its customers.
Faye Flensburg, CEO and co-founder of Lace Laboratory commented: “We are so proud to have the continued backing of our existing shareholders and to now welcome new investors on board. They all possess invaluable expertise and experience, and we know that this will help take Lace Laboratory to the next level. Our customers and community have been at the very core of shaping our offering and Felicia and I are really excited to now bring them along on this stage of our journey, together with our shareholders and brilliant team.”
Jacob de Geer stated: “Retail is currently being disrupted and incumbents are desperately trying to adapt to a new reality but with limited success. Lace Laboratory is a highly niched female-founded company and one of the few that’s cracked the code and truly understands the future of retail.”