The Nurturing Co (TNC), which owns and operates the sustainable plastic-free home goods brand Bambooloo, has raised GBP187,013 (more than US$252,000) in an oversubscribed equity crowdfunding round on Seedrs.
The money came from 193 investors from Singapore and the UK, in return for a minority stake of 7.43 percent at a pre-money valuation of US$3.1 million.
The capital will be used to finance Bambooloo’s expansion into the UK in 2021, as well as to launch its new products.
“We took the decision to launch first in the UK under Bambooloo UK Ltd as our first main market outside Singapore, as we felt that the scale of opportunity, early and promising development of the sustainable alternatives sector and improving trade relationships with Singapore created a good set of signals for the timing to move on this plan,” said Co-founder David Ward.
Bambooloo provides customers with 100 percent plastic-free packaging. Its main goal is to provide cost-effective, safer, healthier daily essential products that help reduce water usage, carbon impact, and slow deforestation.
The brand recently added a bamboo-based personal safety mask-line to its products.
According to Ward, COVID-19 has in some ways created more overall awareness of our impact on the natural world but also brought basic daily use essentials like toilet paper and anti-bacterial wipes into sharp focus for many many people. “And with more than 70 percent of consumers seeking better less impacting alternatives we felt that the time to push international was now,” he concluded.