Sustainable personal care and household startup Bower Collective has smashed its latest crowdfunding target, raising £855.8k to finance its mission to eliminate plastic waste.
Launched three weeks ago, the brand’s Crowdcube push hit its £600k target within 75 minutes. It closed yesterday (28 June) at 142%, funded by 484 investors.
The money would be put towards accelerating growth into retail, said Bower. It was currently “negotiating with one of the UK’s leading retailers to launch in 250-plus stores”, it added.
Bower – which boasted a pre-funding valuation of £15m – is an online subscription service that delivers natural home and personal care products. Users order refills and for their branded dispensers, then return the refill packs for free to be reused.
The fast-growing B Corp – founded in 2019 by Nick Torday and Marcus Hill – has seen revenues surge 234% since 2020 to £1.7m, with 68% of monthly revenues from established subscribers.
It is backed by leading venture capitalists including Founders Factory, Access VC, Oxford Capital Partners and Döhler Ventures.
In 2021, the London brand secured £2.1m in seed funding via a round led by Oxford Capital and Döhler Ventures, with prominent angel investors including Dharmash Mistry participating.
It came after Bower graduated from Founders Factory, the accelerator programme backed by Reckitt.
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