Sniph secured $1M in angel investment.
Sniph, a Stockholm, Sweden-based company operating an on-demand service for perfumes, announced that it completed a SEK 10M ($1M) capital investment round.
The funding was supported by Swedish investors, including Cristina Stenbeck, Pär Svärdson, Philip Abdon, DIG Investment and Martin Lorentzon. The money will be used for product development and expansion. In connection with the investment, Annelie Nässén also joins the company's board of directors.
Sniph, founded in founded in 2015 by Elisabet (Lisa) Kjellqvist and led by CEO Tara Derakshan, built an an on-demand online service that provides perfumes for a monthly subscription. The company has 12 employees and had sales of SEK 4.5M ($500k) in 2018.