Ray Studios has raised €10.25 million ($12 million) in new funding to expand its medical tattoo removal network across Europe and advance its technology and clinical protocols. The round was co-led by Factory Capital and Nickleby Capital, with participation from existing investors, including Gaingels and several international business angels.
The company said the investment marks a significant milestone in its growth trajectory as one of Europe’s leading medical tattoo removal networks. Over the past year, Ray Studios more than doubled both its revenue and physical footprint, reaching 20 studios across France, Spain, and Belgium.
The company also reinforced its proprietary Ray Studios Advanced Performance RsAP methodology, strengthened medical protocol, and launched innovations, including an AI-powered medical decision-support agent and the first dedicated tattoo-removal follow-up app.
According to the company, the new financing will support an aggressive expansion plan to more than double its studio network again within the next two years. Ray Studios said it will also continue investing in clinical excellence, medical leadership, and technology that enhances diagnostic precision, treatment optimization, and patient experience.
The company emphasized that all treatments are performed under medical supervision (qualified doctors) and use advanced laser technology (e.g., picosecond lasers like the PicoWay) in combination with the RSAP process to improve outcomes, reduce required sessions, and increase safety. And they also offer digital tools (an app to track treatment progress, online booking, medical record management).
The company credited its team across Europe for driving its momentum.
