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Aspira

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Develop drone tech to facilitate the application of intelligent coatings that better the environment

100%
 - 
Funded 27 Oct 2023
£336,000 target
£348,574 from 177 investors
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Business overview

Location Manchester, United Kingdom
Social media
Website www.aspira.co
Sectors Energy Digital B2B
Company number 09887042
Incorporation date 24 Nov 2015
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Investment summary

Type Equity
Valuation (pre-money) £6M
Equity offered 5.31%
Tax relief

EIS

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Business highlights

  • Innovate UK award to clean wind turbines via drone
  • Innovate UK award to apply anti-pollution coating
  • Building Maintenance Company of the year 2023
  • Civil Aviation Authority Sign off unique to Aspira
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Key features

  • Secondary Market
  • Nominee investment min. £10.00 +
  • Direct investment min. £25,000.00 +

Idea

Introduction

Aspira’s mission is to use drones and coatings for good so that we may better the environment we live and work in. Our technology and sustainable coatings can directly tackle air pollution, support carbon reduction, clean wind turbines and increase material lifespan – significantly.

The cleaning and upkeep of the external façade of buildings is always challenging. The very nature of tall buildings and structures means there is a high risk associated with the process with a corresponding high cost due to predominantly access issues. Our innovative drone technology combines anti-collision and surface tracking software delivering safe, stable flight within 2 meters of a building. Furthermore, we have developed a spray system that facilitates the effective application of a number of environmental coatings that can be applied to the surface. The whole process has been validated and signed off by the Civil Aviation Authority (CAA) which we believe to be unique to Aspira.

Substantial accomplishments to date

September 2017:
Beta drone built with successful testing, development of market potential & building operating documents for Civil Aviation Authority sign-off.

June 2019:
£375,000 raised from new shareholders to build IP & develop a new Aspiracopter and move tech IP in-house.

September 2019:
Civil Aviation Authority approves technical developments and operating protocols allowing to fly a drone within 2m of a building and spray.

July 2020:
Extended coating portfolio, including AspiraFresh (disinfectant) to help fight COVID-19.

November 2020:
£100,000 Innovate UK Grant to enhance flight and surface tracking technology on our drone to facilitate pollution reduction in urban areas.

July 2021:
£300,000+ raised to expand internal capabilities and move the drone towards being commercially ready to scale.

July 2021:
First application of AspiraClear at the Met Office & AspiraPure at Bruntwood.

February 2022:
£500,000 InnovateUK SMART Grant – Utilising our bespoke drone technology & coating expertise to clean existing turbines to reduce drag and increase efficiency.

October 2022:
Build Facilities Management Award – Most innovative building maintenance company – Northwest.

November 2022:
EDGE Grant to test & prove our technology using real-world wind turbine testing facilities.

June 2023:
Corporate Live wire - Global award – Building Maintenance Company of the Year.

Unlock Net Zero – Supply chain partner of the year (nomination).

Monetisation strategy

We aim to benefit from 2 revenue generation methods for business-to-business sales.

Aspira as a service

Project by Project

£3.5k/day + coatings

Includes Aspiracopter, maintenance, spray and flight training, consultancy for operating, proprietary collision software, license to use the coating, CAA approved operating expenses and operational team including pilot

We aim to implement Aspira as a license
12-month license

£4.9k/month + coatings

Includes Aspiracopter, annual maintenance, spray and flight training, consultancy for operating, proprietary collision software, license to use the coating, CAA approved operating expenses.

We plan on factoring the Annual service into the cost. We intend to have our clients pay for Routine maintenance.

Use of proceeds

Breakdown of spend:

Commercialisation - 46%

This includes:

- Hire Chief Technical Officer & Head of Sales

- Increase Sales & Marketing team

- New market development, potential onboarding of additional coatings

- Overseas expansion (Europe)

- Further development of civil aviation authority permissions.

Operations Delivery - 11%

This includes:

- Expand team/partnership to provide operations support for service delivery.

- Team training and development

- Overseas expansion (Europe).

Technical Development - 21%

This includes:

- Maintaining & develop existing technical team

- Testing process for integrating new process/coatings

- Scalling internal manufacturing capabilities

Business Function (incl legal) - 22%

This includes:

- Further Legal support to secure future IP and designs

- Scale back office functions to support new team, accountancy/HR/HSE

Key Information

Loan Disclosures

A loan from Covid Bounceback with £45,666.22 outstanding at an interest rate of 2.5% per annum. The loan is repaid in monthly instalments of £591.26 with the final amount due 8th March 2031.

A loan from Shareholders with £16,734 outstanding at an interest rate of 5% per annum. The loan is repaid or converted to shares on request.

Please note: funds raised as part of this raise will not be used to repay outstanding debt.

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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 Aspira has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 11 August 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 £6,000,000

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

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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

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

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