Personal Care Brand 900.care Fundraises 21M Euros
The skincare and hygiene brand 900.care, which offers natural and refillable products through a subscription model, has received 21 million euros in funding, as per reports from Paris.
Lombard Odier Investment Managers was the main group leading the funding round which included previous investors such as White Star Capital, Swen Blue Ocean and Founders Future from 900.care.
Aymeric Grange and Thomas Arnaudo, the founders of the French brand, will use the fresh funds to boost the expansion of 900.care in nearby countries. This comes after the successful entry into Belgium and Switzerland.
In 2021, the pair introduced their brand that encourages shoppers to switch to natural and refillable hygiene and care items in order to reduce their use of disposable plastic. Their product line consists of a variety of natural goods such as body washes, toothpaste, deodorant, shampoo, and even laundry and dishwashing tablets.
Over 10,000 individuals were involved in beta-testing the products that originate from France. The items are solely available through subscription and a refill package is dispatched to one's mailbox a mere twenty days following the purchasing of a trial kit. The individual can then dictate the frequency of reorders according to their own requirements.
Grange and Arnaudo aim to make 900.care a profitable venture by the end of 2024. They also anticipate that the brand will produce a revenue of 100 million euros in the next three years.
The business generates an annual income of 10 million euros and has over 235,000 active subscribers and 25 staff in France. The company claims that, so far, their products have prevented 4 million bits of plastic waste from being created, conserved 1.5 million tonnes of carbon dioxide, and done away with the need to transport over 500,000 litres of water.
In a statement, Victoire Carous who acts as co-manager of circularity strategy for plastic at Lombard Odier Investment Managers has expressed that the business model presented by 900.care is a promising one for the future because it promotes good behavior by minimizing plastic production.
"We are happy to endorse an organization that strives to maintain a pricing strategy that is easily accessible to the masses, thereby enhancing its favorable influence on our planet and oceans," expressed Mélanie Le Guen, the head of Swen Blue Ocean.
You can buy a trial kit of shower gel for 2.49 euros. However, if you opt for an "essentials kit," which includes shampoo, toothpaste, hand soap, and shower gel, it will cost you 8.31 euros.
In the month of July, 900.care procured a sum of 10 million euros to augment their funding in the areas of research and development, staffing new personnel and hastening communication. This initial round of funding was supported by White Star Capital, Founders Future, 360 Capital and patrons who invest in small businesses.
