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Hytro

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Aims to advance human health and performance through patented Blood Flow Restriction wearables

128%
 - 
Funded 26 Oct 2023
£350,001 target
£462,606 from 152 investors
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Business overview

Location London, United Kingdom
Social media
Website www.hytro.com
Sectors Healthcare Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 12161623
Incorporation date 19 Aug 2019
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Investment summary

Type Equity
Valuation (pre-money) £6.3M
Equity offered 6.66%
Tax relief

EIS

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Business highlights

  • 60+ professional sports teams using Hytro BFR
  • UK patent granted and Int. applications filed
  • Revenue up over 200% year on year* (Jan-June 22-23)
  • Investment by multiple pro coaches & athletes
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Key features

  • No Secondary Market
  • Nominee investment min. £11.76 +
  • Direct investment min. £25,000.00 +

Idea

Introduction

Hytro is the creator of industry-disrupting Blood Flow Restriction (BFR) wearables.

Founded in 2019 by Dr Warren Bradley, Raj Thiruchelvarajah, and Paul Harter our vision was to make the power of BFR more accessible. At the heart of Hytro, our mission is to create a wearable application with a promise to accelerate performance, improve health and revolutionise the industry.

By integrating BFR technology within a wearable, we have removed the complexities associated with existing devices and unlocked the benefits for everyone: enhanced exercise preparation, improved training adaptation, pain management, and accelerated recovery.

After a successful private raise exclusively for pro coaches and athletes last year, and as it aims to expand, Hytro is now opening this round to the community, inviting everyone to join our mission.

We started within pro sports, showcasing how we believe our innovative products go beyond existing tools to change how the world uses BFR.

We now aim to deliver on our plans to scale rapidly through serving the US and medical markets.

Substantial accomplishments to date

Hytro BFR has become ingrained in over 60 professional sports teams and colleges across the globe, covering a range of sports, including Football, Cricket, Rugby Union & League, Formula 1 Racing, Cycling, Basketball and more.

Revenue: Accelerated with a year-on-year increase of over 200%*(Jan-June 22-23).

*Based on unaudited management accounts

Fundraising: Over 50 of the world’s best professional coaches working between the Premier League to Formula 1 have chosen to invest personally in Hytro. We believe this backing has cemented industry confidence in our product and our mission even further.

In total, we have raised over £1m in funding to date

Patent: UK patent has been granted and is pending internationally.

Team: Notable key hires have been added to the team, we welcomed the appointment of Stuart Thomson, Chief Product Officer, who is already achieving great success in product development and manufacturing. Tom Atkinson, Head of Pro and College Sports, who is leading the advancements in the UK, US, and global markets. The team has also begun connecting Hytro with the UK’s top rehabilitation organisations and centres, dramatically diversifying clinics’ options within the world of BFR rehab.

Research: Hytro is proven by peer-reviewed research by Queen Mary University of London and the University of Essex; we continue to research new applications across more sports with work underway with Solent University, Sheffield Hallam University, and a number of top-tier professional sports teams.

Monetisation strategy

Our focus to date has been on serving UK B2B professional sports organisations.

The industry awareness, credibility and authentic performance transformation stories built here form the foundations of our business as well as drive immediate revenue.

We believe this also provides the platform for other opportunities to scale:

US Professional and College Sports - the natural expansion of our business that will enable us to scale and immediate revenue growth.

Medical - We believe that the medical application of Hytro, given the impact of BFR on any individual suffering from muscle atrophy, will be the largest component of the business.

Optimising Health – a rapidly growing market that covers healthy ageing, injury prevention and performance optimisation outside of professional sports.

Military - Initial conversations are already underway with existing military suppliers to ease the burden of entry into this market that offers volume.

D2C - Whilst we have an active e-comm channel, to truly own the consumer market, we aim to partner with leading brands to help us scale quickly through a licensing model.

Use of proceeds

This investment and the aim for 2024 is to penetrate the US Pro and College Sports market and to commence work on the entry into the medical market.

We want to maintain a small, highly effective team so we aim to selectively grow our headcount through targeted experienced hires on the ground in the US and adding expertise to our medical arm.

Generating awareness in the US will require an increase in our marketing budget to create US-specific content while our new product development cycles will mean that our production runs and associated research and development will also be significant use of proceeds.

Specifically, this will be split:

New Team Members 11%

Marketing 21%

Production Runs 44%

R&D 24%

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. 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

The company has the following outstanding loans:

- £37,897.52 Bounce Back Loan from Natwest at an interest rate of 2.5% per annum, which was received on the 12th of May 2020. The loan is to be repaid on 12th June 2026.

- £100,000 from GLIF SD LP at an interest rate of 13.5% per annum, which was received on the 27th of April 2023. The loan is to be repaid in 2027 with monthly repayments of £1,851.95.

- £15,535.35 director’s loan from Dr Warren Bradley at an interest rate of 0% per annum, which was received on 31 August 2020. The loan is payable on exit.

- £15,535.35 director’s loan from Raj Thiruchelvarajah at an interest rate of 0% per annum, which was received on 31 August 2020. The loan is payable on exit.

- £35,000 loan from Paul Harter at an interest rate of 8% per annum, which was received on the 12th of May 2022. Repayable in full on first to occur of (i) successful completion of an equity financing of £250,000 or more or (ii) 31 December 2023. At the option of the lender, convertible into equity at the same valuation as any equity financing round completed prior to repayment in full.

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.

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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

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 Hytro has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 22 September 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 £6,289,054

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.

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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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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.

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