'Clean Beauty' Pioneer Brand 'Lan' Announces New Funding Round Led by Source Code Capital

Clean beauty brand Lan announced it has completed a new funding round led by Source Code Capital, with joint participation from Tiantu Capital and Intro Capital. This marks the brand's second consecutive funding round within six months, bringing the total raised across both rounds to RMB 200 million. The proceeds will primarily fund product R&D, brand system development, and digital membership infrastructure. Mumian Capital served as the exclusive financial advisor for both rounds.

Unlike mainstream beauty brands that prioritize marketing over brand-building, Lan focuses more on communicating its brand philosophy and investing in R&D. Since its founding, Lan has maintained a "pure yet potent" clean beauty positioning, committed to real, transparent product standards. Using the "oil-based skincare" concept as its entry point, the brand aims to provide consumers with an efficient, healthy, and enjoyable approach to skincare.

"A good brand shouldn't just have sophisticated formulations — it should also take on the responsibility of communicating scientific skincare concepts to consumers," said Ding Xiaolan, founder of Lan. The brand has one and only one starting point: to explore and close the gap between scientific skincare and public understanding, using this as its R&D philosophy to create products that truly move consumers.

Lan — Oil-Based Skincare

From the Lan team's perspective, a good product should carry its own content and thought. When the brand launched its Time Essence Oil, for instance, essence oils held a negligible share of the broader essence category. By conventional market logic, essence oil wasn't a "good track." But after deep research into skin physiology, the team learned that as the body's first line of defense, skin function depends on sebum secreted by sebaceous glands and structural lipids in the stratum corneum; "good oils" can strengthen skin and make it soft and radiant. Based on this, Lan developed its "oil-based skincare" philosophy.

From the angles of scientific grounding and consumer education, the Lan team sparked high-heat discussion of the "oil-based skincare" topic on Xiaohongshu with minimal marketing spend. Within four months of launch, the Time Essence Oil achieved sales exceeding RMB 20 million, briefly entering Tmall's top 10 essence category rankings and earning long-term recommendations from livestream star Austin Li.

Since opening its Tmall flagship store in November 2019, Lan has launched only six products total, yet achieved RMB 200 million in annual revenue — developing "cleansing oil" and "essence oil," two previously weak categories, into its core product lines.

Lan product images

What's unique about cosmetics is that they're not simply product deliveries, and consumers' skin repair cycles are relatively long. Compared to offline counters, online channels have an inherent weakness in user communication. Beyond order fulfillment, Lan has proposed a "companion-style service" philosophy, hoping to become a "companion" on consumers' beauty journeys — accompanying "them" in understanding their own skin and inspiring reflection on skincare philosophy. Ding Xiaolan said, "We always insist that what Lan delivers is not just a product, but a skincare philosophy and lifestyle for the new independent woman."

Dandan Chen of Source Code Capital said: "The competition in China's domestic skincare track is not about traffic, nor about viral hits — it's about winning consumer mindshare. When consumers recognize a brand, they're recognizing the brand philosophy it conveys. Lan is one of the very rare domestic brands Source Code Capital has encountered that has a complete skincare philosophy underpinning its product system. We believe Lan will become China's leading brand championing 'clean beauty.' Lan's distinctive Eastern aesthetic, combined with the team's R&D focus and craftsmanship in product development, deeply impressed us."

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