Nooro

Idea

Please note that whilst the campaign is labelled as EIS eligible the Company has £150,000 remaining of its SEIS limit. As some direct investments are not seeking SEIS, the campaign is SEIS eligible for investments up to £195,150.15. Any investments made after £195,150.15 will be EIS eligible. Any tax relief is dependent on personal circumstances and may be subject to change in the future.

Introduction

Here’s 2 key facts:

1: The UK market for healthy snacking is worth £365m.
2: The UK has the largest CBD consumer market in Europe, predicted to hit £1bn by 2025.

Nooro was founded in 2019 by J.D. Furlong when he realised that blending CBD and certain nootropics was a game changer.

CBD, adaptogens and nootropics can improve our mood, mind and body. Our vision is to see them in the mainstream, that’s why we created the world’s best tasting CBD snack bars:

- Lemon + Ginger
- Banana + Cinnamon
- Sour Cherry + Dark Chocolate

Pre-covid, Nooro could be found in 250 retail outlets, gyms, cafes and delis, across the UK. During the pandemic we pivoted to a Digital First approach - we wanted to be closer to our customers, sell D2C and get better margins.

We have a great product, brilliant brand and experienced team. We're ready for the next stage in Nooro's growth.

Thanks for reading, we’d love you to be a part of Nooro’s success.

Think Better, Snack Smarter

JD

Substantial accomplishments to date

2018: Concept
- Analysis of the snack market
- CBD consumption and changing consumer behaviour
- R&D on product
- In field testing, refining, re-formulate
- Production partner selection process

2019: Launch
- Launched product, as single flavour to test market
- We become Planet Organic’s best snack product launch
- Pre-Covid Nooro is available in over 250 outlets (Dec 2019)
- Large retailers include chains: Planet Organic, As Nature Intended and Rivital

2020: Pivot
- Business model pivots to Digital First approach
- Brand refresh
- Additional flavours
- D2C website launch
- Operational team expanded
- Advisory broad created
- Margins increase

What our fans say:
- “These are super healthy, can we eat them all.” - Stylist Magazine

- “This makes CBD tasty, healthy and convenient.” - LSN Global Report

Monetisation strategy

To take advantage of the switch to digital we’ve created a business model with 4 distinct revenue streams:
- 60% E-Commerce D2C (via getnooro.com)
- 15% Digital Affiliates (products sold by other online businesses)
- 15% Direct Sales (to retailers, cafes, studios and delis)
- 10% Wholesalers (the traditional route)

Nooro sells its products in 2 different types of bespoke packaging:
1 – Nooro Snack Pack of 6 bars (Consumer)
- Letterbox size to ensure 100% delivery rate
- RRP £17.50 including shipping

2 – Nooro Box of 15 bars (Commercial)
- Sold into wholesale as well as direct sales and digital affiliate
- RRP £22.50-£32.50 (depending on channel)

- Available in choice of 3 flavours or as mixed box
This model allows us more control as we grow. It sets the foundations in place for listings on Amazon and other major portals.

Use of proceeds

All funds raised are for growth capital only - no funds are required for capital expenditure.

Nooro has £150k allocation of SEIS for this round.

We have a 3-tiered plan for fundraising and the use of funds:

£100k Seedrs Fundraise:
Funds will be used to launch an additional three new flavours by Feb 2021
- £7.5k Product development
- £25k Marketing
- £32.5k Team
- £20k Production
- £15k Launch consumer subscription model

£200k Seedrs Fundraise:
This allows us to scale up our revenues with a view to listing products on Amazon in H2 2021

£300k Seedrs Fundraise:
Nooro wants to continually push at the boundaries of what is possible. Raising £300k allows us to develop new products, snacks, drinks using adaptogens and CBD.