Nordic Knots, Stockholm-Based Premium Rug Maker, Secures $100M First Fundraise
Nordic Knots, a Stockholm-based maker of timeless Scandinavian home textiles including rugs, curtains, and bedding, has raised nearly $100M in its first-ever funding round, a minority stake led by Imaginary Ventures. The brand crafts products from natural materials like wool, jute, and linen, handwoven in India by artisans and certified by GoodWeave. The capital will fund global expansion, new flagship stores, and product lines into furniture and fabric by the yard.
Rug Investments Surge Amid Expansion
The round arrives as investor interest in premium rugs heats up: Ernesta raised $20M recently per WWD coverage. Competitors like Revival Rugs secured $2M seed in 2021, while Ruggable has raised $2M total. Nordic Knots differentiates with minimalist Scandinavian designs versus Ruggable's washable, pattern-heavy rugs or Revival's vintage styles. Sales grew 85% in 2025, targeting $100M revenue in 2026 according to WWD.
Demand Drives Sustainable Textile Shift
Homeowners and designers seek premium, ethical textiles amid post-pandemic interior refreshes. The global carpets and rugs market stands at $90.49B in 2024, projected to reach $153.39B by 2034 at 6.9% CAGR per Custom Market Insights. Wool holds 38.5% share in area rugs, aligning with Nordic Knots' material focus via Data Bridge Market Research. Current options often lack timeless Scandi aesthetics combined with ethical production.
Handcrafted Essentials Redefine Interiors
Nordic Knots offers plush wool rugs like Grand and Park, flatweaves like Desert, and expansions into percale bedding and velvet curtains. Designs draw from Scandinavian minimalism, with collaborations like Studio Mellone's Art Deco-inspired rugs. Unlike Ruggable's practical washables or The Citizenry's eclectic global patterns, Nordic Knots emphasizes refined neutrals and tonal layering for depth.
As co-founder Liza Berglund Laserow noted:
"We’re very ambitious, we don’t settle, and we’re unreasonably hungry to grow this into something significant."
Imaginary Ventures Backs Profitable Growth
Led by Imaginary Ventures, the round includes Creades (105.4 MSEK or ~$10M for 5% stake), IRIS Ventures, and Lauren Santo Domingo. LTM revenue hit 670 MSEK (~$63M) with over 20% operating margins and 60%+ CAGR over three years from Creades announcement. This signals conviction in a bootstrapped brand's scalability. Post-money valuation reached ~$2.2B per Vestbee.
Premium Rugs Market Expands Rapidly
The rugs segment reflects broader home decor growth, with the U.S. market at $141B in 2024 heading to $203B by 2033 according to GlobeNewswire. Trends favor natural materials and minimalist designs, where Nordic Knots leads with GoodWeave certification and SMETA-audited supply chains. Competitors like ferm LIVING, acquired by Maj Invest Equity, pursue bolder Danish styles.
Founders Blend Antiques and Agency Expertise
Co-founders Liza Laserow Berglund brings 40+ years in Swedish antiques, Fabian Berglund 15+ years as creative director at Anomaly and Wieden+Kennedy (including IKEA campaigns), and brother Felix Berglund supports operations. Recent hires include COO Stina Göransson from Peak Performance and CCO Katherine Hoeger. This mix fuels brand evolution from rugs to lifestyle.
Flagships and Categories Accelerate
Plans include LA flagship in June 2026 after NYC's SoHo opening, plus London and Stockholm stores. Product roadmap adds furniture and fabric sales, with hiring for sales managers in Paris and roles in LA/Miami. Designer collabs like Eagle+Hodges continue amid 70 employees and majority U.S. revenue.