Stockholm-based Lace Laboratory, a company that provides high-quality lace knickers for home delivery, announced that it has secured €1.8M in a fresh round of funding. With this fundraise, the company’s total funding comes to €2.5M to date.
The round saw participation from investors including Jacob de Geer, founder of iZettle, Cristina Stenbeck, Swedish entrepreneur and investor, Susanna Campbell, investor and Director of the Board at Kinnevik, and Åsa Orbison, LA-based angel investor and marketeer.
Additional investors Amelie Söderberg, Daniel Pilotti & Johan Karlsson, and Urban Edenström also invested in this round.
Funds for expansion
The proceeds from this round will be used to further accelerate the company’s global expansion, with the UK as its most recent market entry, product development, and growing the team.
Speaking on the fundraise, Faye Flensburg, CEO & co-founder of Lace Laboratory says, “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.”
“It’s not just about panties.”
Founded in 2018 by Faye Flensburg and Felicia Lönnqvist, Lace Laboratory claims it was started because the founders wanted women everywhere to celebrate and take pride in their bodies as well as feel like the best version of themselves while using the underwear they made.
Speaking about the brand, the founders mentioned on their website, “Empowering is the word. And that’s why we began this journey, one that led us all the way to China to try to find the right manufacturer who can produce panties to our exacting standards. (They didn’t work out, but we finally found them in Turkey!).”
“It’s exciting every day, because for us, Lace Laboratory is about women working together to own their destinies and build something for themselves, and hopefully inspire other women to do the same. So now you know, it’s not just about panties.”
About Lace Laboratory
The company claims to make products that bring comfort, durability, and breathability to its customers while offering a flattering fit regardless of the wearer’s body shape. It uses three types of lace, specifically developed for its products at its partner factory in Turkey. Key to the comfort and fit of its knickers is that it is expandable by up to 150 per cent around the hips.
Since its inception, Lace Laboratory’s D2C-model has enabled its rapid expansion with over 100,000 orders placed by customers in 39 markets across Europe. One of the major contributions for this growth is its community-driven product development, where thousands of women get to have their say on the brand’s fits and colours.
As of now, the company has been selling one style only, but is looking to expand its range and more styles in the autumn of 2021, designed in collaboration with its customers.