Peachies, a London-based premium nappy brand for contemporary parenting, has announced the successful completion of its latest fundraising round, securing total funding of €1.6. The round included prominent investors from the UK, US, Germany and Austria. It was led by Anotherway Ventures, the fund supporting purpose-led consumer brands and Antler, the most active private early-stage VC firm in the world. A number of high profile angels – including the founders of children’s bicycle brand Woom and a former senior leader at Kimberly Clark (Huggies owner) also invested in Peachies.
The funding environment for consumer products is more competitive than ever, so this investment is testament to the growth opportunity for disrupting the nappy market in the UK and beyond. A highly competitive market and growing rapidly, the latest estimates suggest the industry will be worth £1.2 billion in the UK alone by 2027.
Peachies produces a premium quality product which stands out in a heavily commoditised category. Focusing on the highest quality materials and perfecting the nappy fit, Peachies are engineered to transform the nappy experience with fewer changes per day and unparalleled skin friendliness. Climate KIC’s Impact Forecast shares that for every 1,000 babies that wear Peachies nappies, the company will save up to the equivalent weight of 17 elephants.
Jono Holt, Partner at Anotherway Ventures, commented: “We’re super proud to be investing in Peachies. It’s a great brand that represents and respects modern parents and the nappy market is crying out for more innovation and more sustainability.”
Morgan Mixon, Co-Founder of Peachies, added: “From the beginning, Peachies has been backed by founders, industry executives and experienced investors. Now, we are adding to our brain trust renowned funds like Anotherway Ventures and Antler alongside angels all who believe in our mission to make modern parenthood more joyful by focusing on an essential routine at the heart of childcare that has been long overlooked, leaving parents frustrated.”
Launched in June 2023, Peachies are currently available in the UK via the company’s website. Parents are the protagonists of Peachies’ design philosophy and that is reflected in the company’s core offering: easy-to-manage monthly nappy subscriptions delivered straight to home.
Rima Suppan, Peachies Co-Founder, said: “We are creating a new nappy category where premium product and customer service design unlocks uncharted value for families. That’s longer nights, fewer nappies per day, less laundry and the assurance baby’s skin is protected and comfortable. With this additional capital, we are poised to accelerate growth in the UK, expand our product range and supercharge our nappy concierge service modelled on luxury hospitality.”
Frederik Brandis, Investor at Antler, added: “Morgan and Rima are two highly motivated and creative founders who are building a company that addresses a fundamental need for millions of parents around the world. They are committed to creating a high quality product that is having a positive impact on parents as well as the planet. We are delighted to have supported them and have every confidence in their future success.”
Read the orginal article: https://www.eu-startups.com/2024/05/london-based-peachies-raises-e1-6-million-to-redefine-the-nappy-experience/
