UK-based eco-friendly detergent subscription service provider Smol has announced securing £8 million in its Series A round financing led by Balderton Capital. The funding round also saw participation from JamJar Investments.
Launched in 2018 by former Unilever employees, Paula Quazi and Nick Green, the company produces animal-fat-free, vegan fabric conditioner and a 100% plastic-free, child-lock packaging for laundry and dishwashing. The firm plans to use the freshly raised funds to launch new product categories, expand its reach in the current market, and grow its team. The firm claims to have over 250,000 users.
Paula Quazi, the co-founder of the firm talking about the firm said that "Having seen how the industry has barely innovated in over a hundred years we launched smol to take the hassle out of washing for families whose laundry needs have been ignored for decades.”
Suranga Chandratillake, a partner at Balderton Capital talking about the team at Smol noted that “When people think of technology disruption, it is normal to think of digital products and internet tools. However, technology has the power to make life better for us in the most unexpected ways and we believe [Smol co-founders] Paula, Nick, and their amazing team have tapped into just such an opportunity at Smol. Household cleaning is a great example of a product category where giant incumbents have ignored potential innovation. Smol has exploited that complacency, built a product people actually want and, as a result, got people excited about laundry and dishwashing all over again.”
Image courtesy: smolproducts