Bower Collective Is a consumer digital platform for sustainable home and personal care products. With a mission to eliminate plastic waste, a London-based company has raised £ 2.1m in seed-stage funding.
The· investment The round was led by Oxford Capital and The Doller Ventures. Many prominent angel investors, including Dermash Mystery, also participated in the round. The round took place last year after Bower Collective graduated from the Founders Factory Accelerator Program supported by global consumer goods company Reckitt Benquiser.
Bower Collective will use this money to accelerate business growth and increase market share through packaging innovation and new product development.
Nick Torday, Co-Founder and CEO of Bower Collective, commented: forward. This funding round allows you to accelerate business growth and continue to drive innovation across products and packaging while leveraging the rapid growth of subscription services. “
David Mott, founding partner of Oxford Capital, commented: Since its launch, the surge in sales and subscriptions has been encouraging and customer feedback has been extraordinary. We love supporting businesses with a strong purpose and believe that Bower Collective can have a real impact as we continue to grow. “
Eyes to eliminate plastic waste
Founded in 2020 by Nick Torday and Marcus Hill, Bower Collective offers a wide range of sustainable home and personal care products. The company is committed to eliminating plastic waste.
We have developed an innovative approach to e-commerce by providing a closed-loop plastic waste-free solution. Users can subscribe to the various products offered in the refill package. Customers also return empty packages in prepaid envelopes to Bauer for reuse and recycling, eliminating plastic waste in the supply chain.
Bower Collective is working on a next-generation reusable packaging system with the support of Innovate UK. This allows companies to reuse and replenish on a large scale. This ensures a closed loop and does not ultimately place the package in a landfill, incinerator, or natural environment. The company aims to launch this new package in the fall of 2021.
Since its inception, the company has grown rapidly, building a community of over 60,000 consumers and achieving 30% month-on-month revenue growth. It is also in the final stages of B-Corporation certification.
Bower Collective has released its first impact report highlighting its significant sustainable impact. This includes protecting 20,367 m2 of endangered seagrass as part of its partnership with the Marine Conservation Society to date. With every purchase at Bower Collective, we make a donation to protect 1 m2 of endangered seagrass as part of our mission to eliminate plastic waste from the natural environment and support biodiversity.
London startup wants to get rid of plastic waste and has raised £ 2.1m
Source link London startup wants to get rid of plastic waste and has raised £ 2.1m