Copenhagen, Denmark – September 18, 2024 – Scandinavian Biolabs (« SBL »), the Copenhagen-based innovator in the haircare industry, announced today 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. 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.
What’s Next?
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. This funding will help scale the business through an online offering and expand strategic retail such as pharmacies.
The Science Speaks
Scandinavian Biolabs is dedicated to advancing the science of haircare. The Bio-Pilixin® Serum has undergone clinical pilot trials, including a five-month study that showed 93% of participants had a documented decrease in hair loss. The company is planning additional clinical trials to further validate the efficacy of its current and new products. The efficacy of the product is further supported by a strong and growing base of repeat customers.
Key Stats That Matter
- Subscriptions: A strong and growing base of repeat customers at a +50% returning customer rate, with subscription-based models driving a significant portion of sales.
- Product Effectiveness: 93% of users had a documented decrease in hair loss, and 73% had a documented increase in hair density after 150 days of daily use of the Bio-Pilixin® Activation Serum.
What They’re Saying:
Niels Konradi, COO and Co-Founder of Scandinavian Biolabs:
“What started as a personal battle with hair loss has grown into something far bigger. It’s been incredible to see how many lives we’ve touched with our products. I am particularly excited about the potential to offer even more value to our customers.”
Anders Reckendorff, CEO and Co-Founder of Scandinavian Biolabs:
“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.”
Investor Insights
Auréa Fund:
“Auréa is delighted to have been chosen by 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.”
Seven Ventures:
“Scandinavian Biolabs has not only developed an innovative product line but also built a strong brand that resonates with consumers. Our collaboration will leverage the power of television to bring their message to millions more, highlighting their unique approach to haircare. We see tremendous potential in this partnership.”
Blazar Capital:
“We’ve supported Scandinavian Biolabs from the beginning, and their progress has been nothing short of remarkable. This latest investment is a natural next step for them, and we’re excited to see the impact it will have.”
Background Information
Scandinavian Biolabs was born out of a very personal battle. Niels Konradi, co-founder, faced early hair loss in his twenties - a challenge that can shatter anyone’s confidence. Instead of opting for invasive treatments, Niels set out to create a better solution. Teaming up with leading experts in chemistry, dermatology, and hair science, the Bio-Pilixin® Activation Serum was developed. It’s the result of relentless dedication to creating something that is tried, tested, and honest.
Phenomenal Growth
In just four years, Scandinavian Biolabs has gone from a startup to a market leader. With revenue projected to exceed €10 million in 2024, they are one of the fastest-growing brands in the industry, creating a loyal community who trust the brand to deliver real results and transparent communication.
Clinically Tested, Customer-Approved
Scandinavian Biolabs isn’t playing around when it comes to clinical research. Their flagship Bio-Pilixin® Activation Serum has shown in trials that the anagen (growth) phase of participants’ hair follicles increased by 16% relative to baseline, and the telogen (shedding) phase decreased by 39%. 93% of users saw a difference, and these results are underlined by the +1,300 5-star reviews.
Hair Loss
Hair loss affects millions of people worldwide, and Scandinavian Biolabs is at the forefront of providing effective, non-invasive solutions. Scandinavian Biolabs’ products are designed to work with the body’s natural processes, offering a non-drug, preventative approach to those dealing with hair loss.
Retail and Consumer Appeal
With a strong emphasis on consumer education and ambitious and creative marketing, Scandinavian Biolabs will expand its strategic retail presence, building on its already strong pharmacy partners like John Bell & Croydon and retailers such as Flaconi and Helsam.
About Scandinavian Biolabs Leadership Team
Christian Harboe – Chief Growth Officer and Co-Founder
Christian draws on 13 years of experience in building and scaling e-commerce brands to expand Scandinavian Biolabs' global reach and enhance consumer engagement. He holds a Bachelor’s degree from Copenhagen Business School.
Niels Konradi – COO and Co-Founder
With a personal connection to the brand’s mission, Niels oversees operations across the full supply chain, ensuring the highest standards of quality. He holds a double degree in Economics and Innovation Management from CBS and Bocconi.
Anders Reckendorff – CEO and Co-Founder
Anders brings extensive experience in consumer brands and driving strategic growth. He holds a Master of Law and was a former consultant at Kearney.
About Auréa Group
Founded by Mike Jatania and Paul Raphael, Auréa is the leading investment platform for New Age Beauty, Wellness, and Longevity. Focused on digitally native brands, Auréa invests in innovative companies that embrace trends in science-backed products, clean ingredients, and sustainability. Operating in London, New York, and Paris, Auréa offers expertise in brand management, global expansion, and digital commerce. Positioned between traditional private equity and large corporates, Auréa empowers founders to maintain creative autonomy while scaling their brands.
About Seven Ventures
Seven Ventures is the investment arm of ProSiebenSat.1 Group, one of Europe’s largest media companies. Specializing in media-for-equity deals and media-for-revenue, Seven Ventures provides high-growth companies with access to the extensive advertising power of ProSiebenSat.1’s TV and digital platforms.
About Blazar Capital
Blazar Capital is a venture studio and investment firm based in Copenhagen. Blazar Capital specializes in building and scaling global consumer brands, particularly in the e-commerce and direct-to-consumer sectors.
For Media Inquiries
Anders Reckendorff, CEO
ar@scandinavianbiolabs.com
