A UK-based company that created the ‘world’s first’ safe scratching medical devices has received a $1m investment in its bid to become a global brand.
Cosi Care has secured the investment as one of the five winners of the 43North startup competition, which attracts thousands of applicants from across the globe.
Lauren Bell, from Swansea, and Sandip Leihal, from Nottingham, founded the brand in 2018 after designing a medical device offering instant itch relief and soothing painful symptoms of skin conditions such as eczema.
Lauren came up with the idea for the device after her brother, Rhys, was confined to bed for three months with an agonising eczema flare-up that led to topical steroid withdrawal.
Now, the brand has been recognised for its breakthrough product development for eczema and skin relief with over 50,000 customers in the UK. The revenue to date across the Cosi Care Group has now exceeded £3m.
The company’s technology delivers targeted cooling and soothing sensations to the skin, helping users to reduce scratching to prevent damage and infections.
The products have helped thousands of customers across the UK – and now the plan is to go global and help more people suffering with their skin.
As one of five winners of the 43North competition, the $1m investment will allow the brand to expand to the US market. Cosi Care was also the only UK company to win the investment.
It also won the People’s Choice Award, adding $25,000 funding to their prize.
Cosi Care’s co founder Lauren Bell said: “Receiving this investment is a true testament to how universal our solution is – everyone knows someone with itchy skin. The response from our customers in the UK has been incredible, and we couldn’t be more excited to launch Cosi Care in the US.
“Our mission is to offer relief and support to families raising children with eczema, and we believe everyone deserves to feel comfortable and confident in their skin – but that requires having access to products that really help. We are on a mission to outmatch the scratch globally!”
Co founder and CFO Sandip Leihal added: “This is a major milestone for Cosi Care and for UK healthtech proving it can scale globally. We have built a medical grade device with real demand, strong unit economics and a model that can grow across markets.
“Securing US investment allows us to take a British innovation into one of the biggest healthcare markets in the world and build a category defining brand in a space that has seen little change for decades.”
Cosi Care confirmed that elements of its supply chain and product development will continue in the UK, with further hiring planned.
