Maurten, the Swedish sports nutrition company known for its patented hydrogel technology, closed a €20 million ($21.7 mm) capital round led by international growth equity fund Iris Ventures. Existing investors, including Dan Sten Olsson, CEO of Stena Sphere, also participated in the round.
Founded in 2015 by Marten Fyknäs, Olof Sköld, and Karl Sköld, Maurten started by developing and launching its patented Hydrogel Technology. This technology enables athletes to consume high-carb “fuel” during training and racing without gastrointestinal distress.
The Maurten range includes gels, drink mixes, and solids. It also offers the Maurten Bicarb System, which uses microdoses of bicarbonate of soda mixed in a biopolymer soup to improve performance and help recovery.
The new funding is expected to help Maurten expand beyond sports into medical research and accelerate its focus on female-specific research.
“It’s an important moment that strengthens the diversity of our board,” said Sköld, Maurten CEO. “I have no doubt that accessing the expertise and network of female-founded Iris Ventures, and their deep understanding of the sports culture scene, will greatly benefit our ambitions to expand the reach of our innovations — across new markets and industries.”
Montse Suarez, founder and managing partner of Iris Ventures, commented, “Maurten is a game changer and has, from the outset, redefined athletic performance through world-class innovation in the sports nutrition category, seamlessly marrying product excellence with brand uniqueness and edge. The company consistently delivers on their ambitious plans, and we are thrilled to join forces with Olof and team.”
Florian Wojewodzki, partner at Iris Ventures, added, “Fueling is so mission-critical to performance that elite endurance athletes are incredibly discerning with what they consume. Credibility is vital. Maurten’s long and growing list of professional athletes is a testament to the efficacy of its products and uncompromising focus on innovation. In this context, we are extremely excited to be partnering with Maurten and look forward to supporting them in this next phase of growth.”
Image courtesy Maurten
