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Field Doctor

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Field Doctor make award-winning ready meals to support specific health conditions and goals.

120%
 - 
Funded 18 Jul 2022
£600,001 target
£723,202 from 253 investors
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Business overview

Location Bath, United Kingdom
Social media
Website www.fielddoctor.co.uk
Sectors Food & Beverage Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 12118273
Incorporation date 23 Jul 2019
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Investment summary

Type Equity
Valuation (pre-money) £5.9M
Equity offered 10.97%
Tax relief

EIS

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Business highlights

  • Fast growth: £1M sales in 15 months since national launch *
  • Innovative: UK's 1st certified range of low FODMAP ready meals
  • Engaged community: 30k email, 10k social & Trustpilot excellent
  • Multi award-winning: 4 Great Taste, food innovative + health
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Key features

  • Secondary Market
  • Nominee investment min. £12.05 +
  • Direct investment min. £25,000.00 +

Idea

Introduction

At Field Doctor we believe in the power of food as medicine to help improve people’s lives.

Science-led, dietitian-designed and chef-made, our award-winning ready meals are condition-targeted and support a range of health goals and dietary choices.

There are millions of people in the UK who have conditions where food can have a positive health impact including IBS, Type 2 diabetes, mental health, women’s health, healthy ageing and heart disease.

We deliver direct to our customers and they simply heat and eat for 100% effortless health!

Substantial accomplishments to date

Innovative: Launched the UK’s first certified low FODMAP ready meals for people who have IBS, a condition that affects 1 in 10 people in the UK and in 2022 we intend to launch our next range for people with Type 2 Diabetes.

Sales: £1M sales in 15 months since national launch*.

2022 Fast Start: +275% Q1 sales growth YOY*.


Award-winning: 4 Great Taste, Innovative Food Product of the Year, Women's Health & Women's Fitness and Taste of the West Gold.

Excellent customer reaction: growing community; 30k email database, 10k on social and rated Excellent on Trustpilot.

Lots of Press + PR: we've featured in numerous health and wellness magazines, on BBC TV, in podcasts and on radio and met HRH Princess Anne!

Amazing Partners: we've worked collaboratively to drive awareness and acquisition with Health Tech Partners like Thriva, leading dietitians including The Gut Health Clinic, aligned brands like Symprove, influencers like Amy Williams MBE and Charities: The IBS Network and Guts UK.

*based on unaudited management accounts

Monetisation strategy

Our proven business model is built on the principle that food as medicine can really impact people's health. Our customers buy more frequently as they see and feel the benefits and it helps their condition. Our loyalty rates are market leading.

Main revenue stream: direct to consumer via our website, one-off and subscription

Secondary revenue streams: Wellness at Work platforms + Consumer Wellness Platforms, Affiliates, Gift cards, Specialist wholesale

On plan: digital consultation, health tech integrations

Use of proceeds

1. Launch new range - for diabetes, lower calorie, low sugar, high protein range

2. Boosting productivity by improving efficiencies and driving down costs

3. Drive growth by extending our marketing activities to reach more people and improve their experience

4. Invest in tech including our subscription service and digital consultation service

5. Expand our team in science, marketing and in the kitchen

Investor Perks

Key Information

The company has the following outstanding loans:

1. £160,000 Sales Ledger Loan from Shopify at an interest rate of 12% per annum, which was received in Nov-21. The loan repayment continues as a % of sales until the amount is repaid.

2. £66,746 Sales Ledger Loan from Clear Co at an interest rate of 12% per annum, which was received in Mar-21. The loan repayment continues as a % of sales until the amount is repaid.

3. £15,900 Directors Loan from Richard Archer at an interest rate of 9% per annum, which was received in Feb-22. The loan does not have a repayment schedule.

4. £15,900 Directors Loan from Peter Cornforth at an interest rate of 9% per annum, which was received in Mar-22. The loan does not have a repayment schedule

5. £26,500 Short Term Loan at an interest rate of 9% per annum, which was received in Apr-22.

6. £15,900 Short Term Loan at an interest rate of 9% per annum, which was received in May-22.

7. £25,000 in unpaid salaries, which are outstanding since Nov-21. The loan does not have a repayment schedule nor does it accrue interest.

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

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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.

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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 £5,864,159

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.

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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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