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Batch.Works

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Our agile manufacturing systems are transforming the way things are made, enabling the circular economy.

150%
 - 
Funded 17 Nov 2023
£300,002 target
£466,359 from 315 investors
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Business overview

Location London, United Kingdom
Social media
Website www.batch.works/
Sectors SaaS/PaaS Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 11127427
Incorporation date 29 Dec 2017
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Investment summary

Type Equity
Valuation (pre-money) £3.5M
Equity offered 11.42%
Tax relief

EIS

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Business highlights

  • Over £1.8M in government projects inc. 6 UKRI awards
  • 3 Pilots projects with top UK retailer
  • 150k+ parts made from sustainable material
  • Operating 80+ machines across two production hubs
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Key features

  • Secondary Market
  • Nominee investment min. £14.26 +
  • Direct investment min. £15,000.00 +

Idea

Introduction

The future of manufacturing needs to enable businesses to design, print, recycle and re-print, whenever required. It’s both agile and circular.

Here at Batch.Works, we’re aiming to lead this transition - providing businesses with the technological capabilities to perform their own fully circular 3D manufacturing.

Since 2017, with significant R&D, we’ve developed this technology and have been providing sustainable manufacturing directly to a number of major global brands. This is currently being performed from our two production locations in London & Amsterdam.

In parallel to this, with support from leading businesses and large funding from Innovate UK, we're building what we believe to be the UK’s first additive manufacturing subscription service - CMaaS (Circular Manufacturing as a Service). Businesses will subscribe to our custom hardware & software, enabling them to design and manufacture products in-house, using recycled material and generating minimal waste.

Substantial accomplishments to date

• Printed over 150K+ parts made from recycled or bio-sourced material

• Partnered with a cross sector clients including bluechip brands in: Furniture, Retail, Medical Tech and Consumer Electronic sectors

• Established manufacturing locations in London and Amsterdam

• Generated £600k+ of revenue since launch*

• Secured over £1.8m of non-dilutive R&D grant funding.

• Currently testing five AI Driven Smart Factory units as a pilot project

• Received press articles in major design press along with mainstream media (financial times, guardian, Monocle)

• Established an advisory board of industry Experts

• Founder & team expertise in additive manufacturing

Monetisation strategy

Over the last six years, Batch.Works has seen strong revenue growth year-on-year.*

Under the current business model, Batch.Works has generated revenue by providing design consultancy and manufacturing services directly to our customers.

Design Consultancy; our growing team of inhouse designers provide specialist services from ideation to DFM (design for manufacturing) to align the vision of the customer with the printing capabilities, generating the appropriate software files for manufacturing.

Manufacturing Services; using our 80+ machines across our two production hubs, we directly manufacture and deliver the required B2B and B2C parts to the customers.

In 2024, we plan to launch our subscription model - CMaaS (Circular Manufacturing as a Service) - with the aim of growing revenue.

Cmaas; the Batch.Works manufacturing subscription service. An advanced digital warehouse and scheduling software allowing customers to bring manufacturing capabilities in house for a monthly fee.

*Based on unaudited management accounts

Use of proceeds

Commercialisation - 30%
We plan to develop our sales team so we can deliver on our existing pipeline and begin sales for the CMaaS offering.

- Development and rollout of advanced tech (enabling CMaaS) - 70%
We will be continuing to develop AI driven, automated manufacturing hardware and software to move from our existing pilot project to an initial rollout in 2024.

Key Information

Lead Investment

£161,000 of lead investment in this round was received in May 2023. This investment was made by Seedrs Nominees on behalf of Sustainable Ventures through their 5th cohort fund. The company is opening up this round up for further investment, allowing new and existing investors to invest further.

For further information on this cohort fund, please visit the campaign page: www.seedrs.com/sa5

Group Structure

Investors in this round are investing into, and will become shareholders of, BatchW Ltd, Company number: 11127427. This is the holding company for the group.

BatchW Ltd 100% owns a subsidiary incorporated in Amsterdam called BatchW Ltd.

Founder Interests


The Founders of BatchW Ltd are also co-founders and co-owners of a company called Batch Space LTD, which is a workspace provider for makers and creatives. This runs as a community project and the intention is for this company to become a not-for-profit, registered charity.

Batch Space Ltd provides offices and workspace to BatchW Ltd under an arms-length agreement to ensure there is no conflict of interest.

A full-time manager is in place at Batch Space Ltd; however, Julien Vaissieres and Milo Mcloughlin-Greening, the Founders of BatchW Ltd, spend 5% of their combined time helping to manage Batch Space LTD.

Material Debt

The Company has the following outstanding loans:

1. A £166,043 Founders Loan with an interest rate of 6.5% per annum. The loan is to be repaid in January 2033.

2. A £4,331 Bounce Back Loan with an interest rate of 2.5% per annum. The loan is to be repaid in May 2026

3. A £2,400 liability remains upon a Barclays business loan originally taken in May 2019 with an interest rate of 9.48% per annum. The loan and interest is repaid in fixed monthly installments of £377.85. The final installment will be due in April 2024.

4. The Company also has a historic PAYE liability of £161,987 . A payment plan has been agreed with HMRC for regular £13,497 payments from November 2023 through to October 2024.

The funds raised as part of this round will not be used to repay these loans.

Loan Facility

The Company has an outstanding loan facility of £383,275 from Sprk Capital with an interest rate of 16% per annum, which is secured against the Company’s assets. The Company is required to repay advanced funds plus interest at the end of the quarter they were drawn down in. As at campaign launch, the Company has a liability of £241,523
This loan facility is being used for bridging financing in the interim period before the Company receives committed grant funding. . The intention is for this to act as a short-term bridging facility that will be repaid and closed once grant funding is received.

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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

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 Batch.Works has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 5 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 £3,500,431

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

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

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

This is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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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

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

Security Token

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