Home Baby brand Chester Village baby brand secures millions in funding

Chester Village baby brand secures millions in funding

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A CHESTER village-based business launched just 20 months ago is celebrating double success after securing £4.25million in funding, which values ​​the business at £20million.

Pura, the eco-friendly baby brand which launched in June 2020 in Tattenhall, has received £4.25m in Series A funding, led by private equity and investment firm Maven Capital Partners.

Co-founders Guy and Abi Fennell launched Pura as new parents, and the company’s growth spurt has been spurred by its disruptive marketing, quality products and environmental credentials.

Guy Fennell, Founder and CEO of Pura, said: “Pura started out as a small company with very big ideas and our success in such a short time has demonstrated that we have a viable business model with strong growth potential. The investment is proof of that.

Pura founder Guy Fennell.

“Maven’s expertise will help us take it to the next level in 2022. Ultimately, the funding will help us make it even easier for parents to make positive change and transition to baby care that’s good for them. the planet and their baby.”

Pura is on a mission to “democratize eco” for all parents, with its 100% plastic-free baby wipes and multi-accredited yet affordable eco-friendly nappies, appealing to parents looking to move away from traditional, less sustainable brands. , baby care good for baby, the planet and piggy banks.

Originally created to sell to parents via its website mypura.comthe investment will also support Pura’s expansion into bricks-and-mortar retail that began with its supermarket debut with Asda last month.

Led by Guy Fennell, an experienced fast-moving consumer goods retailer and entrepreneur, and supported by an experienced management team, Pura has invested heavily in research and development since its inception. The recent investment will fund new product innovations with key additions to its eco-friendly lineup slated for this year.

Pura’s distinctive marketing – featuring playful activist ‘spokespeople’ – has already won critical acclaim and has earned the brand £250,000 in advertising value in the Sky Zero Footprint Fund. This investment will enable Pura to further develop its marketing activity and raise even more parents’ awareness of “easy eco”.

Determined to use business as a force for good, the Pending B-Corp and Carbon Neutral brand is the only company to recycle millions of nappies in Wales each year, through its Pura NappiCycle partnership. The injection of funding means Pura can focus on delivering on its bold ambition to bring the service to parents across the rest of the UK, starting with a trial in Bristol in the coming months.

The transaction with Maven includes £4 million in funding split evenly between VCTs Maven, NPIF Maven Equity Finance, part of the Northern Powerhouse Investment Fund, and Maven Investor Partners, Maven’s high net worth investment syndicate .

James Rosthorn, Chief Investment Officer at Maven, said; “Pura represents an exciting opportunity for our investors to back a high-growth ESG brand with strong environmental credentials and which has developed an innovative product line for consumers and large retailers.

“The business has grown to scale in a short time, thanks to an experienced and credible management team, who have personally invested significant sums in the business. Given the quality of the business and the macroeconomic sentiment broader around environmental and sustainable brands, we see significant growth potential for Pura over the next few years.