Pura secures series A funding
Pura, the eco-friendly baby brand, has received £4.25 million in series A funding in a round led by private equity and investment firm Maven Capital Partners.
The brand was launched 20 months ago by new parents Guy and Abi Fennell as they looked to offer affordable 100% plastic-free baby wipes and eco-friendly nappies.
Established initially as an online business, it will use the new funding to support its expansion into bricks-and-mortar retail which began with its supermarket debut with Asda last month. Pura will also be investing in product innovation with key additions to its eco range planned for this year.
Guy Fennell, chief executive of Pura, said: “Pura started out as a small business 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 testimony to this.
“Maven expertise will help us scale up to the next level in 2022. Ultimately, the funding will help us make it even easier for parents to make a positive change and switch to baby care that is good for the planet and their baby.”
The transaction with Maven includes £4 million of funding split evenly across the Maven VCTs, NPIF Maven Equity Finance, part of the Northern Powerhouse Investment Fund, and Maven Investor Partners, Maven’s high net worth investment syndicate.
James Rosthorn, senior investment manager at Maven, said; “Pura represents an exciting opportunity for our investors to back a high growth ESG brand with strong environmental credentials and one which has developed an innovative range of products for both consumers and large retailers.
“The business has built up scale in a short period of time, by an experienced and credible management team, who have personally invested significant sums into the company. Given the quality of the business and the wider macro sentiment around environmental and sustainable brands, we see significant growth potential for Pura over the coming years.”
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