The beauty and skincare devices industry in the Nordics is rapidly growing, characterized by a blend of innovative startups and established companies. This sector encompasses a wide range of products, including smart skincare tools, personalized beauty devices, and advanced grooming gadgets. Companies are increasingly focusing on sustainability and technological integration, with developments in AI and bioengineering driving product offerings. As consumers become more conscious of their health and the environmental impact of products, the industry is adapting, providing cleaner, more efficient solutions. With a growing investment interest, the Nordics is positioned to be a pivotal player in the global beauty and skincare market.


This list features a competitive group of investors who primarily focus on the beauty and skincare devices sector in the Nordics. Headquartered mainly in Stockholm, these investors range from private equity firms, like EQT Group and Priveq, to venture capitalists such as Kinnevik and Heartcore Capital. Founded from as early as 1936 to as recent as 2016, they showcase varied sizes—from small teams to large corporations—demonstrating a commitment to innovation. In 2024, there were notable investments made across 11 firms, reflecting a promising year for the beauty and skincare segment and a keen interest in advancing this niche market.


Top 11 Beauty and Skincare Devices Investors in the Nordics


1. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden. Almi aims to enhance the growth and competitiveness of these businesses by offering tailored financial solutions and guidance. Among their notable transactions, Almi has invested in Minolei Cosmetics, a company in the beauty sector, as well as NCP Olfactives and NCP Concept, which are also related to beauty and skincare. These investments highlight Almi's engagement in the beauty and skincare devices industry, showcasing their commitment to supporting innovative companies in this space.


2. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a prominent private equity investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in a diverse range of investment strategies, including private equity, infrastructure, real estate, growth equity, and venture capital. EQT serves institutional investors by providing expertise in managing varied investment portfolios across multiple sectors and geographies. Notably, EQT led a consortium to acquire Galderma, a leading global dermatology company, from Nestlé for CHF 10.2 billion in 2019. This acquisition positions Galderma as the largest independent global dermatology company, highlighting EQT's strategic interest in the beauty and skincare devices market. Additionally, EQT Ventures has participated in funding rounds for tech startups like FastAF, which, while not directly in beauty and skincare, indicates EQT's broader engagement in innovative consumer sectors.


3. Kinnevik

  • Website: kinnevik.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1936
  • Headcount: 11-50
  • Number of deals in 2024: 10
  • LinkedIn: investment-ab-kinnevik

Kinnevik is a Stockholm-based investment company founded in 1936, focusing on partnering with innovative entrepreneurs across various sectors, including healthcare, software, marketplaces, and climate tech. They provide both capital and operational support to help companies scale and create long-term value. Notably, Kinnevik has made significant investments in the beauty sector, particularly through GLOSSYBOX, which raised substantial funding in both 2011 and 2015. These investments highlight Kinnevik's interest in the beauty and skincare market, showcasing their strategy of redefining industries and addressing global challenges through strategic investments.


4. VNV Global AB

  • Website: vnv.global
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1996
  • Headcount: 1-10
  • Number of deals in 2024: 1
  • LinkedIn: vostok-new-ventures-ltd

VNV Global AB is a venture capital investment firm based in Stockholm, Sweden, founded in 1996. The firm focuses on providing capital and expertise to innovative companies across various sectors, including Mobility and Digital Health. VNV Global aims to support mission-driven entrepreneurs in developing scalable and sustainable business models, emphasizing long-term profitability and the creation of strong market positions. Notably, VNV Global has participated in significant transactions within the beauty industry, such as their investment in Booksy, a US-based beauty services marketplace that raised $70 million in a Series C funding round. This investment highlights VNV Global's engagement in the beauty sector, alongside their other investments in health and wellbeing technology companies like Palta and femtech start-up Yoppie.


5. Heartcore Capital

  • Website: heartcore.com
  • Type: Venture Capital
  • Headquarters: Copenhagen, Denmark
  • Founded year: 2007
  • Headcount: 11-50
  • Number of deals in 2024: 17
  • LinkedIn: heartcorecapital

Heartcore Capital is a venture capital firm based in Copenhagen, Denmark, founded in 2007. The firm specializes in investing in early-stage technology companies and focuses on building long-term relationships with entrepreneurs to support their business journeys. Heartcore has been involved in several notable transactions, including investments in FORMEL Skin, a Berlin-based startup that raised significant funding to develop its digital platform for remote skincare. This investment highlights Heartcore's interest in the beauty and skincare devices sector, as FORMEL Skin aims to expand its business across European markets. Additionally, Heartcore has participated in earlier funding rounds for FORMEL Skin, indicating a sustained commitment to supporting innovative solutions in the skincare industry. Their portfolio also includes investments in other sectors, but their engagement with beauty and skincare technology positions them as a relevant player in this field.


6. Rite Ventures


Rite Ventures is a venture capital firm based in Stockholm, Sweden, founded in 2007. The firm specializes in transforming early growth companies in sectors such as IT-services, Software as a Service, and e-commerce into midmarket leaders. They provide both capital and strategic support to entrepreneurs, helping them scale their businesses effectively. Notably, Rite Ventures has invested in Skincity, a company focused on beauty and skincare, which raised an undisclosed amount in a venture round in April 2014. Additionally, they have been involved with Nelly Group, a fashion and beauty e-commerce platform, through multiple funding rounds, including post-IPO equity and secondary funding. These transactions highlight Rite Ventures' engagement in the beauty and skincare space, despite their broader investment focus.


7. Nordic Eye Venture & Growth Capital

  • Website: nordiceye.com
  • Type: Venture Capital
  • Headquarters: Copenhagen, Denmark
  • Founded year: 2016
  • Headcount: 11-50
  • LinkedIn: nordic-eye

Nordic Eye Venture & Growth Capital is a venture capital firm based in Copenhagen, Denmark, founded in 2016. The firm specializes in investing in growth companies within the technology and lifestyle sectors, providing capital and strategic support to startups to help them scale and achieve market fit. Notably, Nordic Eye led a $6 million seed investment round in Underlining Beauty, a Miami-based beauty and wellness company, aimed at expanding its direct-to-consumer business and product lines. This investment highlights their engagement in the beauty industry. Additionally, they have participated in various other funding rounds, including investments in companies like Bellabeat and Blue Ocean Robotics, showcasing their diverse portfolio while maintaining a focus on high revenue potential ventures.


8. eEquity

  • Website: eequity.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2010
  • Headcount: 11-50
  • LinkedIn: eequity

eEquity is a venture capital firm based in Stockholm, Sweden, founded in 2010. The firm specializes in growth equity, focusing on digitally enabled business models primarily in the Nordics. eEquity partners with entrepreneurs in the technology and retail sectors, providing capital and strategic support to help them scale their businesses into regional and global leaders. Notably, eEquity has invested in Swiss Clinic, which raised over $2.3 million in a venture round in 2016, and Ideal of Sweden, which raised nearly $9.6 million in a venture round in 2017. Both companies are involved in the beauty and skincare industry, highlighting eEquity's engagement in this sector.


9. Priveq

  • Website: priveq.se
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1983
  • Headcount: 11-50
  • LinkedIn: priveq-investment

Priveq is an investment management and private equity firm based in Stockholm, Sweden, founded in 1983. The firm specializes in providing growth capital to companies across various sectors, with a focus on helping growth-stage companies achieve their objectives through strategic guidance and financial support. Priveq has a history of investing in over 130 companies, including notable transactions such as their investment in Parfym.se, a beauty-related company that raised funds in 2019. This investment highlights Priveq's engagement in the beauty industry, alongside their other investments like Mediplast AB, which, while not directly related to beauty and skincare devices, showcases their diverse investment strategy.


10. Cni


CNI Advisory AB is a venture capital firm based in Stockholm, Sweden, founded in 2012. The firm specializes in funding and supporting entrepreneurial businesses across various sectors, including technology, finance, and e-commerce. Cni aims to create sustainable shareholder value by providing capital and strategic guidance to its portfolio companies. Notably, Cni has invested in Ideal of Sweden, which raised approximately $9.6 million in a venture round in December 2017, focusing on beauty and lifestyle products. Additionally, Cni led a significant funding round for Volumental in December 2021, which, while primarily a technology company, supports brands that may intersect with beauty and skincare. These transactions highlight Cni's engagement in the beauty and skincare devices market, making it a relevant investor in this category.


11. Orkla ASA

  • Website: orkla.com
  • Type: Corporate
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 2017
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: orkla-asa

Orkla ASA is a leading industrial investment company based in Oslo, Norway, founded in 2017. The company operates across multiple sectors, including branded consumer goods, aluminium solutions, and financial investments. Orkla offers a diverse range of products, including food, snacks, health, and personal care items. Notably, Orkla has made significant strides in the beauty and skincare market, highlighted by their acquisition of NutraQ in February 2021 for NOK 3.1 billion. This acquisition brought in health and beauty brands such as VitaePro and Oslo Skin Lab, enhancing Orkla's portfolio in the personal care segment. Additionally, Orkla Wound Care's acquisition of Norgesplaster Holding AS in April 2020, while primarily focused on wound care, also reflects their broader interest in health-related products, which can intersect with beauty and skincare. Overall, Orkla serves both consumers and businesses, providing high-quality branded goods and solutions across various markets, including beauty and skincare.



Beauty and Skincare Devices Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
AlmiStockholm, Stockholm, Sweden201-50019947
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
KinnevikStockholm, Stockholm, Sweden11-50193610
VNV Global ABStockholm, Stockholm, Sweden1-1019961
Heartcore CapitalCopenhagen, Denmark11-50200717
Rite VenturesStockholm, Stockholm, Sweden1-1020070
Nordic Eye Venture & Growth CapitalCopenhagen, Denmark11-5020160
eEquityStockholm, Stockholm, Sweden11-5020100
PriveqStockholm, Stockholm, Sweden11-5019830
CniStockholm, Stockholm, Sweden1-1020121
Orkla ASAOslo, Oslo, Norway10001+20171


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