At a Glance
Lola&Lykke Oy is an award-winning women’s health company reshaping reproductive healthcare for mothers. Lola&Lykke offers a comprehensive solution that seamlessly combines physical products designed to the unique needs of women with cutting-edge technology.
Traction and Ask
With €914k net revenues in 2022 (20% sales growth YoY), a 100K engaged customers’ community, and sales spanning across 20 countries, Lola&Lykke is now looking to raise €500K in funding. The ideal investor has expertise in consumer products, e-commerce, digital health, and knowledge of the Nordic, DACH, Benelux, French or UK markets.
The investment is needed for:
- Product development including launching the initial MVP of the mobile app in Q1 2024 in the UK, Ireland and US and developing further key physical products (wearable breast pump, double breast pump, breastfeeding accessories, maternity/postpartum re-order items such as cosmetics).
- Strengthening the sales and digital product team, hiring one Digital Product Owner and one Chief Commercial Officer.
Market, Business Model, Financials and Team
Founded in 2018 in Helsinki, Lola&Lykke is poised to capture a significant share of the global FemTech market worth €60B in 2023 (+16,3% CAGR/year).
Lola&Lykke is currently monetizing through the sale of physical maternity products charged to both D2C and B2B customers. We plan to introduce several new revenue streams in the near future, including online video consultations, a digital subscription model for its mobile application and a complete employee benefit package sold to insurers and employers. Revenue growth is projected at 2.5x YoY (breakeven in Q4/2023), reaching €50M by Q4/2027.
The Lola&Lykke team of 2 full-time co-founders, 5 full-time employees, and several skilled freelancers and advisors, combines several decades of commercial, digital product development and healthcare expertise.
Competitive Advantage
Key USPs versus competitors like Elvie (UK), Medela (CH), LactApp (SP) and LEIA postpartum app (SE) are:
- Lola&Lykke is the first and only maternal health platform providing mothers a true omnichannel offering combining physical products, tech, and personalized support.
- Lola&Lykke´s unique mum-centric care model provides holistic support for the millions of women currently not getting the breastfeeding and postpartum support they need.
Round Details
At a €2.5M pre-money valuation, Lola&Lykke aims to close this seed round by 31 October 2023. The Company’s existing shareholders continue to support the business in follow-up rounds. The minimum investment ticket size is €20K.
Lola&Lykke has previously invested €250K of its own capital, raised €1.35M in private investments from angel investors, family offices and early-stage VCs and a further €350K in grants from Business Finland and the EU to develop its award-winning products and omnichannel offering, which means that after this investment round is secured, Lola&Lykke is fully ready for international commercial uptake. Lola&Lykke is seeking to exit in 4-5 years at a target valuation of €100M (40x return of investment).
Get in Touch
Laura McGrath, Co-Founder/CEO, is speaking with potential investors over the next few weeks and is keen to pitch, demo and open up the company´s traction and financial plans in detail.