Aims to advance human health and performance through patented Blood Flow Restriction wearables
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 |
Investment summary
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
Key features
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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