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ProcureCircular by AMBIO-N

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AMBIO-N (ProcureCircular) is B2B SaaS technology platform for sourcing circular materials.

101%
 - 
Funded 16 Jan 2024
£395,001 target
£412,475 from 140 investors
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Business overview

Location London, United Kingdom
Social media
Website procurecircular.com/
Sectors SaaS/PaaS Mixed Digital/Non-Digital B2B
Company number 11691371
Incorporation date 22 Nov 2018
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Investment summary

Type Equity
Valuation (pre-money) £1.9M
Equity offered 17.30%
Tax relief

EIS

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Business highlights

  • B2B SaaS procurement platform for circular economy.
  • Supporting zero-waste strategies across the UK.
  • £4.5 trillion opportunity in circular economy.
  • Aim to recirculate 100 bn tons of industrial materials.
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Key features

  • Secondary Market
  • Nominee investment min. £10.74 +
  • Direct investment min. £25,000.00 +

Idea

Introduction

ProcureCircular, part of AMBIO-N, is a pioneering digital marketplace and SaaS technology platform for sourcing circular materials for industry at scale. The platform connects buyers with accredited industry suppliers of circular materials, supporting both designers and manufacturers, in their transition towards a more circular business model.

More than a marketplace, ProcureCircular will provide ESG data analytics for materials, enabling buyers to calculate the impact of making a switch to a more sustainable or circular alternative. Carbon, oil, water and dyes indicators, supported with financials build a case for making a switch to circular sourcing.

Cost savings made and ESG ratings increase. Report generation through the platform will allow the environmental and social benefits of every purchase to be effectively communicated to both internal stakeholders and the end consumer.

Substantial accomplishments to date

-Circular materials marketplace of 1000 SKUs on platform with almost 100 suppliers, respected suppliers and 200 registered business customers to date and several in pipeline.

- We empower manufacturers to commit to their zero-waste strategies across the UK and beyond.

- A technology platform which focuses on recirculating surplus and dead inventory of textile materials, with the potential to generate significant impact across scope 3 for an organisation's supply chain.

- We've generated almost £60k in transactions during our proof concept, proving commerciality, sustainability and the circular economy can work concurrently*.

- We have saved an estimated 25,525 kilos of waste which translates into the equivalent of 1,403,875 megajoules of carbon saved per kilo of fibre, 178,675,000 litres of water saved per kilo of cotton by 2030.

*based on unaudited management accounts.

- Research for circular economy by Founders, systems change and materials science at Oxford University over two years, with LCA analysis on materials laid the foundation of Procure Circular.

Monetisation strategy

As we grow AMBIO-N ProcureCircular, we will be focussing on four revenue streams:

1. B2B subscription-based revenue via the digital solution
2. B2B commission-based revenue via the materials tradable on the platform
3. Bespoke sourcing projects for Brands and Retailers
4. Bespoke consultancy projects for ESG agenda creation and supply-chain mapping

We foresee the four areas working alongside each other, with the potential for all 4 revenue streams to be generated from one business client. We will work with all users to ensure they achieve ESG impact across their value chain.

Use of proceeds

AMBIO-N are investing in the build and development of the software platform for the business. Additional funds will be spent on building the team, and on marketing support.

The team in the UK will account for approximately 45% of spend, and 35% on the technology build, with the balance spent on marketing activity both offline and online.

Key Information

Corporate Structure

Investors in this round are investing into and will become shareholders of Ambio Developments Limited (No. 11691371). This is the holding company for the subsidiary ProcureCircular Ltd (No. 14929360).

ProcureCircular is 98% owned by Ambio Developments. Its shares were acquired from two investors who are investing in the topco as part of and on the same terms as this round. Those investors are retaining 2% of ProcureCircular for UK Innovation Scheme purposes, however their shares will be transferred to the topco in the event of an exit or the resolution of their immigration process.

Material Debt:

The Company has the following outstanding loans:

1. A Director’s loan of £77,023. The loan is interest free with no set repayment terms.

2. A loan of £20,000 from Roy Richards. The loan is interest free with no set repayment terms.

The funds raised from this investment round will not be used to repay these loans.

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If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This campaign for ProcureCircular by AMBIO-N has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 13 October 2023 as a financial promotion. Republic Europe is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. In approving this campaign, Republic Europe has concluded that the information, taken as a whole, is "fair, clear and not misleading." This means that for factual statements we have reviewed evidence of their accuracy, and that for aspirational statements we believe they are phrased appropriately in light of their speculative nature. You should note that in the case of factual statements, the evidence we review is provided by the business, and we do not audit it, which means that we may not be able to identify forged or altered evidence. You should further note that in the case of aspirational statements, the nature of the type of businesses presented on the Republic Europe platform is such that they are likely to have high ambitions, and we may approve statements that convey those ambitions even where we do not believe, or we do not have a view on whether it is likely, that they will be fully realised. The pre-money valuation and investment sought in the campaign are those set by the business: they are not reviewed or established by us, and the valuation is not an independent view of what the business is worth. Given the nature and type of businesses presented on the Republic Europe platform, it is possible that the business has very little cash remaining prior to receiving this investment, and the investment sought may be necessary for the business's on-going existence.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £1,909,304

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

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Equity Offered

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When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

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Nominee investment

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

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Secondary market

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Direct investment

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

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Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

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Security Token

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