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London startup wants to eliminate plastic waste, gets £2.1M funding

Bower Collective is a direct-to-consumer digital platform for sustainable home and personal care products. With a mission to eliminate plastic waste, the London-based company has raised £2.1 million in seed-stage funding.

Growth plans

The investment round was led by Oxford Capital and Doehler Ventures. Also, a number of prominent angel investors participated in the round including Dharmash Mistry. This round came after Bower Collective graduated from the Founders Factory accelerator programme supported by Reckitt, the global consumer goods company last year.

Bower Collective will use the funds to accelerate the growth of its business through packaging innovation and new product development to increase market share.

Nick Torday, Co-Founder and CEO, Bower Collective commented: “At Bower we are passionate about creating a transformative sustainable solution within the home and personal care market and are really proud of the exceptional talent that we’ve attracted to build the brand going forwards. This fundraising round will enable us to accelerate the growth of the business, continue driving innovation across product and packaging while taking advantage of the rapid growth of subscription services.”

David Mott, Founding Partner at Oxford Capital commented: “We are really proud to be backing co-founders Nick and Marcus who launched the business with a strong purpose to eliminate plastic waste in the home. Since launch, the rapid rise of sales and subscriptions has been encouraging and the feedback from customers has been exceptional. We love to back companies with a strong purpose, and we believe Bower Collective can make a real impact as it continues to grow.”

Eyes to eliminate plastic waste

Bower Collective, which was founded by Nick Torday and Marcus Hill in 2020, offers a range of sustainable home and personal care products. The company works with the mission to eliminate plastic waste.

It has developed an innovative approach to e-commerce by providing a closed-loop, plastic waste-free solution. Users can subscribe to a range of products that are supplied in refill packages. Also, customers return the empty packages in prepaid envelopes to Bower for reuse and recycling, ensuring zero plastic waste in their supply chain.

Backed by Innovate UK, Bower Collective is working on a next-generation reusable packaging system, which will allow the business to reuse and refill at a significant scale. This will ensure a closed-loop so that no packaging ends up in landfills, incineration or the natural environment. The company aims to launch this new packaging in Autumn 2021.

Since its launch, the company has witnessed rapid growth, building a community of over 60,000 consumers and delivering 30% month-on-month growth in revenues. Furthermore, it is in the final stages of B-Corporation certification.

Bower Collective has launched its first Impact Report, which highlights its significant sustainable impact. It includes protecting 20,367m2 of endangered sea grass as part of its partnership with the Marine Conservation Society to date. For every purchase made with Bower Collective, it will make a donation to help protect 1m2 of endangered seagrass as part of its mission to eliminate plastic waste from the natural environment and support biodiversity.

The post London startup wants to eliminate plastic waste, gets £2.1M funding appeared first on UKTN (UK Tech News).

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