Solave is a young Finnish company developing and marketing a high quality brand called MELZEN to support your journey towards better sleep and well-being.
Traction and Ask
With 30,000+ products sold to B2C customers, and 50,000+ products delivered to 900 B2B retail customers in Finland and €200k net annual revenues by end of 2023 (+18% YoY), Solave is now looking to raise €400k pre-seed funding to grow into the largest sleep brand in the world.
The investment is needed to:
- Validate and implement the market strategy to reach 1,000+ B2C customers from Finland and 127M B2C customers in Europe.
- Reach 60,000+ sold products in the Finnish market and €460k net annual revenue by Q4 2024.
- Strengthen the team with 2 new hires to speed up local and international sales (1 new hire for an online store specialist and 1 for product development/financial management).
Market, Business Model, Financials and Team
Founded in 2022 in Espoo, Finland, Solave is poised to capture a significant share of the global melatonin market valued at $1.26B in 2021 (+14.30% CAGR from 2022 to 2030) and of the global sleep supplement market valued at $62,18B in 2022 (+6,55% CAGR from 2022 to 2030).
Solave earns mainly from B2B sales to retailers and wholesalers. The goal is to grow the MELZEN brand with several (5-15) new sleep care and stress product launches and at the same time launch our own online store, so that we can start charging B2C directly and internationally.
Revenue growth is projected at 10x YoY (breakeven in Q4 2025), reaching €3M by Q4 2026.
Solave’s team of 5 (1 full-time founder, 1 part-time owner and 3 advisor owners) combines several decades of business development, retail and health supplements expertise.
The key competitive advantages versus competitors is that our business is based on taking over the entire sleep category. Our solutions engage all corners of this growing problem. We are the first thing in the customer’s mind when it comes to sleep and supporting it.
MELZEN is a full brand around sleep, not just milligrams or a line extension. We are making sleep care less medical. We make it easy and trendy. Because the sleep category doesn’t have a brand leader! Now is the time.
At a €1,5M pre-money valuation, Solave aims to close this pre-seed round by 31 December 2023. Some minority investors have already soft committed to join with €100k. The minimum investment ticket size is €15k.
Solave is seeking to exit in 3 years at a target valuation of €4,5M (3x return of investment).
Get in Touch
Johanna Sorsa (Co-Founder) and Nina Luostarinen (Partner), are speaking with potential investors over the next few weeks and are keen to pitch, demo and open up their traction and financial plans in detail. Please let me know if this is of interest and I will arrange an introductory call.