Formel Skin
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FORMEL SKIN is a telemedicine platform that provides personalized skincare treatments developed by dermatologists based on photo-based skin analysis. Customers receive customized three-product skincare routines with ongoing medical consultation via chat.
Also known as Formel Skin · FORMEL SKIN · True Skin · TrueSkin GmbH
Founders & leadership
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Investors · 5
Funding
SEC filings, press & company announcements- Undisclosed amountSeries ADec 2021Source ↗
Source: company announcements and press reports — follow each round's link for the claim.
Company profile
researched Aug 2026Formel Skin (legal entity TrueSkin GmbH, also branded FORMEL SKIN) is a Berlin-based digital dermatology, or teledermatology, provider. Its platform connects patients with in-house doctors through an app for digital consultations, remote diagnosis and individualised treatment plans, including its own line of medicated products, for conditions such as acne, rosacea and melasma. The service is delivered on a subscription basis priced at €49 per month, and the app collects treatment data intended to inform ongoing medical decisions.
The company positions itself as addressing structural gaps in European dermatological care: a shortage of dermatologists and reimbursement structures that, according to the founders, discourage doctors from spending time on chronic skin conditions, leaving patients facing waits of up to six months in Germany. Its stated ambition has been to build a digital dermatological clinic covering a broad set of skin conditions. Germany's 2019 Digital Healthcare Act is cited as opening the market for healthtech services of this kind.
In December 2025 the company was acquired by Menwell Limited, the UK digital men's health provider trading as Manual, giving Manual an established presence in Germany. Following the transaction, the combined group announced plans to launch a medically supervised weight-loss programme in Germany under a new brand, VOY, extending the offering beyond dermatology.
Founding story
The company was founded in late 2019 in Berlin as True Skin by Anton Kononov and Florian Semler together with dermatologist Dr. Sarah Bechstein, with the aim of providing individualised dermatological care online for chronic skin conditions.
Business model
Direct-to-consumer digital health service: patients subscribe to an app-based teledermatology programme (reported at €49 per month) that bundles digital consultations with in-house doctors, personalised treatment plans and the company's own medicated skincare products.
Recurring consumer subscription revenue, reported at €49 per month, covering online consultation and personalised medicated treatment.
Traction
More than 150,000 treatments delivered in Germany and Switzerland between the June 2020 platform launch and early 2022, with reported 7x year-on-year growth. By December 2025 the company reported over 2 million treatments and tens of thousands of monthly users, with 125 employees.
Latest developments
The December 2025 acquisition by Manual, after which the group announced a medically supervised weight-loss programme in Germany under the new VOY brand and plans to extend Formel Skin's remit beyond dermatology into additional conditions and markets.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Described as Germany's largest digital dermatology provider and one of Europe's fastest-growing healthtech companies; its 2021 Series A was reported as the largest Series A for a German healthtech company at the time.
Combines in-house physicians, app-based consultation and a proprietary line of medicated products in a single subscription rather than referring patients to third-party care; the company cites partnerships with European universities and treatment journeys showing more than 90% improvement in outcomes.
Technology
A digital platform and mobile app supporting remote consultations, photo-based assessment and treatment tracking, with data captured during treatment used to inform subsequent medical decisions. The company used Google Cloud Platform among its tools.
Go-to-market
Direct-to-consumer online acquisition with a subscription funnel: patients complete an online check-up with dermatologists and receive customised products; the company also cites organic customer advocacy on social media and participation in the Google for Startups Growth Academy to support growth planning.
Consumers with chronic or recurring dermatological conditions such as acne, rosacea and melasma, initially in Germany and Switzerland; the company references over 1.5 billion people globally with conditions treatable remotely.
Geography
Headquartered in Berlin, Germany, with patients served in Germany and Switzerland; after the Manual acquisition, part of a group pursuing broader European expansion.
History
Founded in December 2019 as True Skin (legal entity TrueSkin GmbH), the company launched its platform in June 2020. It was pre-seeded by Heartcore Capital and Cherry Ventures, raised about $6 million in January 2021, and announced a €30 million Series A led by Singular with Heal Capital in December 2021 (publicised in January 2022), bringing total funding to more than €36 million. It took part in a 2021 cohort of the Google for Startups Growth Academy. In December 2025 it was sold to Menwell Limited (Manual), with all existing shareholders, including the founders and institutional investors, reinvesting in Manual.
Risks & controversies
The founders describe European dermatology reimbursement structures and dermatologist shortages as the market conditions the company depends on; the business also operates in a regulated medical and pharmaceutical environment, with the German Digital Healthcare Act cited as enabling its model.
Compiled by commissioned research from 5 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 5
launches, deals, and filingsUK digital health company Manual acquired Formel Skin, Germany's largest digital dermatology provider, gaining an established German presence. All existing shareholders, including founders Florian Semler and Dr Sarah Bechstein and investors Cherry Ventures, Heartcore Capital, Vorwerk Ventures, Singular Ventures and Heal Capital, reinvested in Manual. Walker Morris advised the selling shareholders of TrueSkin GmbH; the sale was announced on 8 December 2025.
Following the Manual acquisition, the combined company announced it would launch a medically supervised weight-loss programme in Germany under a new brand, VOY, combining clinical treatment with lifestyle and behavioural support.
Formel Skin closed a €30 million (about $34 million) Series A led by Paris-based Singular with German healthtech investor Heal Capital, alongside existing investors Cherry Ventures, Heartcore Capital and Vorwerk Ventures. Reported as the largest Series A for a German healthtech company at the time.
$34M source ↗
The company joined a 2021 cohort of the Google for Startups Growth Academy, an eight-week programme for female founders; co-founder Dr. Sarah Bechstein later joined the Google for Startups Founders Academy.
Formel Skin launched its digital dermatology platform, subsequently serving patients in Germany and Switzerland.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 5
primary sources listed
- Dermatology Telehealth Start-Up Formel Skin Raises €30 ...beautymatter.com · web
5 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Formel Skin do?
- Berlin-based teledermatology platform offering app-based consultations and personalised skin treatment plans by subscription.
- Who founded Formel Skin?
- Formel Skin was founded by Sarah Bechstein.
- Who are Formel Skin's investors?
- Formel Skin's investors include Cherry Ventures, Heal Capital, Vorwerk Ventures, Heartcore Capital, Singular.