Can Everdrop develop its cleaning products without plastic bottles and create a global brand? – Tech Crunch

Household cleaning chemicals in tablet form that can be dissolved in water seem to have spawned a number of startups. In addition to Munich-based startup everdrop, there is also Atmo Home in Berlin, as well as Grove Collaborative, Blueland, Smol, Spruce, Ocean Saver… the list goes on. Few, however, have managed to scale as quickly as Everdrop, and last year we covered how it raised an €18m Series A.

Everdrop has just closed an €80 million Series B financing round in equity and venture debt, led by Belgian growth investor Sofina, the Impact Fund of certified Swiss banking group BCorp Lombard Odier and the US venture debt partner TriplePoint Capital. In addition to new investors, existing investors Felix Capital from the UK and HV Capital and Vorwerk Ventures from Germany also participated.

Launched in early 2020, everdrop allows individuals to avoid or simply reuse their plastic bottles for household cleaning, as well as to reduce CO2 emissions in the transport of these goods by up to 95% because the tablets that make up the product just arrive by post. Everdrop and its competitors have also benefited from the effects of the pandemic, as shutdowns have made physical shopping more difficult, and now that behavior is much more entrenched in society.

Everdrop says its numbers include six-digit subscription numbers and 300% year-over-year growth in 2021, markets 40 household products, body care products and has a presence in Germany, Austria, in Switzerland, Italy and France.

Speaking to me on a call, David Löwe, one of the co-founders of everdrop, said, “Investment is basically about three pillars of growth. Expand our product portfolio; become an omnichannel brand; and thirdly the international patent. We have also set up our own R&D lab, including product-focused and R&D. »

I asked him what had changed in the market so far?

“We started in the pandemic, went straight into a war and now inflation, speculation and so much uncertainty. So it was a tough, tough race. In general, I would even say if the whole e-commerce industry shrinks, but last year we actually saw 300% growth. I think the main reason is that people are realizing that even at this time we really have to change something or else our planet has a problem,” he said.

In a statement, Harold Boël, CEO of Sofina, said, “Everdrop has the potential to drive positive change in the CPG landscape.”

As Everdrop expands geographically and in terms of products, there are clearly growing pains.

A recent German review of its products was not entirely complimentary.

And there are signs that there is a lot to exploit in this category, and therefore more competition is coming. Atmo Home, for example, is focusing on “holistic sustainability” (using recycled and sustainable materials) to appeal even more to conscious consumers, suggesting there will be a “race” to be considered the most environmentally conscious brand. climate.

Indeed, successful companies in this space are likely to be startups that can not only scale, but can also build lasting brands, as consumers won’t stick with a product if it doesn’t actually work. or fails to fulfill its climate claims.

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