When was Madara Cosmetics founded?

Madara Cosmetics was founded in 2006.

Where is Madara Cosmetics headquartered?

Madara Cosmetics is based in Latvia.

How much funding has Madara Cosmetics raised?

Madara Cosmetics has raised €63K (across 2 rounds · last 05 Oct 2022).

What was Madara Cosmetics's latest funding round?

Madara Cosmetics's most recent disclosed round was a grant round of €63K, announced 5 October 2022.

What is Madara Cosmetics's revenue?

Madara Cosmetics reported €22.6M in turnover for FY2025, per official registry filings.

The Index madaracosmetics.com

Company · LV

Madara Cosmetics

A cosmetics company known for its innovative products and research projects.

Raised: EUR 63K
Last round: Grant · 05 Oct 2022
Momentum: Quiet
Events: 4
Last activity: 01 Jul 2024

Updated 29 Jul 2026 · Verified 28 Jul 2026

Capital

2 rounds · 2017–2022

2006

Founded

2022

Grant

€63K

No new round recorded in 45 months.

10 Nov 2017
IPO
—
Cumulative —
05 Oct 2022 · +4 yr 11 mo
Grant
€63K
Cumulative €63K

Amounts in EUR, converted at the ECB rate on the event date. Every figure links to its source.

Activity

4 events

Exit01 Jul 2024EUR 1.2M
MADARA Cosmetics agreed to sell 100% of SIA Cosmetics Nord, operator of Selfnamed, to management-controlled SIA SLFNMD for EUR 1.19 million including repayment of outstanding debt.
▸Source: view.news.eu.nasdaq.com
Read at view.news.eu.nasdaq.com
Exit30 Apr 2024EUR 4.0M
MADARA Cosmetics sold the MOSSA brand assets to Oy Transmeri Ab for total consideration of EUR 4 million while retaining product-development and contract-manufacturing responsibilities.
▸Source: view.news.eu.nasdaq.com
Read at view.news.eu.nasdaq.com
Funding05 Oct 2022EUR 63K
MADARA Cosmetics received EUR 63,036 of EBRD support, funded through the EU Horizon 2020 Green Innovation Programme, for improvements to its SELFNAMED platform.
▸Source: view.news.eu.nasdaq.com
Read at view.news.eu.nasdaq.com
Funding10 Nov 2017
MADARA Cosmetics completed an oversubscribed IPO and began trading on Nasdaq First North Riga; strategic investor Oy Transmeri Group AB emerged with 6% of the company.
▸Source: view.news.eu.nasdaq.com
Read at view.news.eu.nasdaq.com

People

2 people

Gunta Šulte
CEO
Santa Mičule
head of the development team

Registry

FY2023–FY2025

Year	Turnover	Net profit	Headcount	Taxes paid	Source
2025	€22.6M	€92K	188	—	UR (LV)
2024	€20.5M	€5.2M	183	—	UR (LV)
2023	€18.9M	€1.7M	177	—	UR (LV)

Raised €63K to date · FY2025 turnover €22.6M · 188 employees

Turnover grew 10% FY2024→FY2025.
Headcount 183 → 188 over FY2024→FY2025.
≈€120K turnover per employee (FY2025).

Questions

6 answers

What does Madara Cosmetics do?: A cosmetics company known for its innovative products and research projects.
When was Madara Cosmetics founded?: Madara Cosmetics was founded in 2006.
Where is Madara Cosmetics headquartered?: Madara Cosmetics is based in Latvia.
How much funding has Madara Cosmetics raised?: Madara Cosmetics has raised €63K (across 2 rounds · last 05 Oct 2022).
What was Madara Cosmetics's latest funding round?: Madara Cosmetics's most recent disclosed round was a grant round of €63K, announced 5 October 2022.
What is Madara Cosmetics's revenue?: Madara Cosmetics reported €22.6M in turnover for FY2025, per official registry filings.

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