Mad Rabbit said the tattoo industry is also projected to increase by 9.43% over the next five years
Mad Rabbit Tattoo has secured US$10m in series A funding.
The tattoo aftercare brand plans to use the funds to expand its product line, increase its marketing efforts and grow its team.
Mad Rabbit, which appeared on the reality TV show Shark Tank in 2021, said the funding comes amid a recent surge in investment into the tattoo industry.
This includes pen manufacturer BIC acquiring Inkbox in 2022 and Prinker Korea Inc receiving an investment from L'Oréal in January 2023.
The tattoo industry is also projected to grow globally by 9.43% by 2029.
"This investment will allow us to continue to innovate and expand our product line, while maintaining our commitment to quality and customer satisfaction,” said Oliver Zak, CEO of Mad Rabbit.
The funding round was led by Lucas Brand Equity, with participation from investor and ‘main shark’ Mark Cuban and H Venture Partners.
"I am thrilled to once again invest in Mad Rabbit and support its continued growth since their appearance on Shark Tank," said Cuban.
“I admire that foresight and ingenuity and am excited for the future of the company."
Mad Rabbit was founded in 2019 and stocks products formulated with natural ingredients, designed to promote healing and prevent infections after getting a tattoo.