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Crua Outdoors

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Highly engineeered camping tents and tent systems - climate controlled, acoustic and light insulating

109%
 - 
Funded 29 May 2024
£434,001 target
£521,206 from 310 investors
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Business overview

Location Tralee, Ireland
Social media
Website www.cruaoutdoors.com
Sectors Travel, Leisure & Sport Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 553249
Incorporation date 26 Nov 2014
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Investment summary

Type Equity
Valuation (pre-money) £8.6M
Equity offered 5.25%
Tax relief N/A
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Business highlights

  • Gross Margin of 65% in 2023
  • Est TAM of $23.27 Billion in 2024 (USA)
  • Product delivered to over 30,000 customers
  • CRUA Quad launched in 2024, under new brand voice
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Key features

  • Secondary Market
  • Nominee investment min. £25.48 +

Idea

Introduction

Anyone who has spent a night in a tent knows exactly the problem we’re solving.

Always too hot, too cold, too noisy, too bright. Just damned uncomfortable.

Tents don't have to be like this… and that's where we come in.

Our CRUA Culla offers you an insulated Cocoon or ‘haven’, which gives our customers the best possible sleep in the wild. Our CRUA Cullas are available as part of an overall CRUA camping system, or crucially as stand alone air frames inner cocoons which can be retrofitted to most existing outer tents.

Substantial accomplishments to date

Our CruaBreatheTM Technology uses a soft polyester outer layer and a thick hollow fiber polyester inner wall which is infused with graphene to provide the best insulation possible.

This is designed to resist the conductive flow of heat, keeping the warmth generated by you and your camping companions inside your tent when it is cold, or the heat out when it is hot outside. This CruaBreatheTM Technology is at the core of our Culla Series inner tents.

Straight from Our Community!

“CRUA has changed camping for the better! - I now have several of the CRUA products including the xTent, the CRUA Culla Solo, the CRUA Haul and the CRUA Culla MAXX. Everything is of the highest quality and works exactly as designed. It has completely changed my camping experience. Thanks.”

30,000+ products shipped to customers.

Over US$5m equity investment raised to date from angels and through 2,567 Seedrs investors.

More than US $4.7m raised to fund product launches.

Monetisation strategy

Direct to Consumer Approach:

CRUA’s business model is primarily based on direct to consumer online sales through our own website - cruaoutdoors.com (utilising Shopify Plus Enterprise package to enable scale) and carefully selected third party marketplaces and drop-shippers such as Amazon and Bass-Pro.

Our Gross Margin currently is at c. 65% in 2023 and we’ve implemented changes through which we aim to raise this to above 70% in 2024. We’re now also aiming to improve contribution margin and break-even at the bottom line in the same period. We've prioritized building excellent unit economics in 2024.

Our target audience is 40+ y/o, professional, with an above average disposable income, primarily in the USA. This means that premium quality, performance and service are key, rather than price sensitivity. And, our USP gives us the opportunity to own this space. Hence the investment in top of funnel marketing and R&D.

Use of proceeds

In order to take advantage of the current opportunity, we intend to spend the funds raised in this round on:

- Top of funnel Marketing Activities to raise brand awareness

- Growing the CRUA sales team

- Research & Development

- Build out of more substantial partnership programmes

- UX & UI Improvement on our website

- Working Capital for growth

Investor Perks

Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company and listed above. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.

Key Information

Material Debt

The Company has the following outstanding loans:

1. $42,180 (USD) financing loan from Shopify Capital. The loan is to be repaid via commission charged on Crua’s daily revenue through Shopify which stands at 17% remittance rate. The current balance outstanding is $10,902.14 as of 27/02/24.

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

Employment & Investment Incentive Scheme (EII):

For Irish Investors the Company has previously been eligible for EII tax relief. After the close of the round the Company will arrange with any Irish Investors looking to seek EII tax relief.

Any investments under £2k will incur a filing fee.

Tax treatment depends on individual circumstances and is subject to change. Seedrs is not responsible for any part of the EII tax relief scheme process.

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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 Crua Outdoors has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 27 February 2024 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 £8,575,332

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).

Learn more about investing and pre-emption rights.

Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the 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.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the 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.

Learn more here

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

A security token is a digital asset that represents ownership or other rights. It is a digital form of traditional investments. In the future, you may be able to trade your investment through compatible exchanges.

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