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Akt London, known for its premium natural deodorant, has raised a $7 million investment from Felix Capital to accelerate its expansion in the beauty and personal care market, The Business of Beauty has learned. This brings its total funding raised to $10 million since 2020.
Founded by West End performers Andy Coxon and Ed Currie in 2020, Akt launched in the US four years later, a market that now accounts for one third of its business. The company is on track to generate $10 million in annual revenue this year.
This investment from Felix Capital, which has invested in the likes of jewellery brand Mejuri and sportswear maker Castore, will go toward product innovation, scaling US operations, and growing retail partnerships while also expanding into new markets such as Europe and Australia. Current wholesale partners include Bloomingdale’s and Credo Beauty.
Despite its rapid rise, Akt faces competition from emerging natural deodorant brands like Wild and Fussy, which also emphasise clean ingredients and sustainable packaging.
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Looking ahead, Akt is aiming to triple the business year-over-year, the company said in a statement.
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Learn more:
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Felix Capital is part of a group of investors who, together, hold a minority interest in The Business of Fashion. All investors have signed shareholder’s documentation guaranteeing BoF’s complete editorial independence.
