UK's certified flushable sanitary pad, which degrades in minutes rather than 500 years
Business overview
| Location | London, United Kingdom |
|---|---|
| Social media | |
| Website | wearefluus.com/ |
| Sectors | Home & Personal Mixed Digital/Non-Digital B2C |
| Company number | 10821096 |
| Incorporation date | 15 Jun 2017 |
Business highlights
- UK's first fully certified flushable period pad
- High speed microplastic-free absorbent hygiene mfg
- Co-dev'd with 5k+ engaged community panel testers
- Multi-region patent protection and trademarks
Learn more about convertible campaigns.
Idea
Introduction
Liv and Aaron have known each other since they were housemates while at Imperial College London. What started off as a request for Aaron to pick up pads one day led to their realisation of how much there was to understand about something half the world went through.
As they spent time discussing menstrual hygiene, they were astounded to discover that a single pad contains 90% plastic, is used for only ~8h, and is then sent to landfill where it will take >500y to degrade! They recognised that a biodegradable pad may have a better beginning of life, but saw that the end of life was still broken. Once binned, a biodegradable pad will still get incinerated or end up in landfill.
So they asked themselves: If you flush toilet paper - why can’t you flush a pad? Can we use existing sewage infrastructure as a safe and sustainable route to dispose of used menstrual products? Can we strip out the harmful microplastic and make a product that’s safe to flush? The answer is Fluus.
Substantial accomplishments to date
Fluus has been supported by international grants and competitions including Innovate UK to fund the development of the world’s first flushable and microplastic-free period pads. 6y of R&D and community testing have gone into rethinking what a disposable pad should be: one that disappears before your next period.
The team has developed Flushtec®: a combination of biodegradable materials and unique manufacturing process that makes pads absorbent and flushable. The IP has been protected by 2 patent families with numerous divisional applications currently in phases with the first set of patents granted.
Flushtec® was further validated via 3rd party testing with the UK’s Water Research Centre (WRC) where Fluus pads were tested against the UK’s “Fine to Flush” guidelines. Fluus pads are also hypoallergenic and suitable for all skin types.
To date the company has raised more than £7.5m from co-leads Eileen Burbidge of Passion Capital and Silicon Valley-based Valo Ventures alongside Vectr VC, True Global, Case for Her and angel investors.
Fluus has used a modified diaper line with its proprietary equipment to produce the world’s first high speed batch of flushable and microplastic free pads at 400 pads/min. These were used to pilot launch Fluus on a D2C store to market test. Incoming B2B and retail interest has accelerated discussions for a UK retail launch, intl white labelling and strategic interests in licensing the technology into other absorbent hygiene applications.
Monetisation strategy
In late 2022, with the product and marketing developed with its community, Fluus used a modified diaper line plus its proprietary equipment to produce the world’s first high speed batch of flushable and microplastic free pads at 400 pads/min. These products were used to pilot launch Fluus on its D2C store to market test amongst its community. What started as a community of 16k in Jan 2023 has now grown to over 100k.
In 2023, the medium pad went through several iterations that have resulted in a strong NPS and reduced COGS. Incoming B2B and retail interest has accelerated the discussions for the UK retail launch, international white labelling and strategic interests in licensing the technology into other absorbent hygiene applications.
Currently validated at 450 pads/min, we aim for the next milestone to be 600 pads/min for the medium pad and liner, and 515 pads/min for the heavy pad. This would drive down the cost for flushable period pads in retail as the zero-waste solution to period care.
Use of proceeds
Capital raised will be used to complete the production milestones to achieve continuous high speed manufacturing on 3 product types for our retail launch.
• 33%: £200k to validate 600 pads/minute of the medium pad
• 33%: £200k to validate 515 pads/minute of the heavy pad
• 33%: £200k to validate 600 pads/minute of the liner
Overfunding will enable us to accelerate:
• Improve in line quality control vision systems on the manufacturing line and in our supply chain
• In-line printing systems to reduce supply chain complexities and cost, whilst enabling white labelling opportunities
• R&D work streams into bio-based microplastic free polymers
Key Information
Planera - Parent Company
Planera is the parent company, and R&D hub that develops technologies such as Flushtec®. Fluus is Planera’s first consumer brand.
By joining this crowdfunding campaign, you would be investing in both Planera (the parent company), and Fluus (the period care brand)
Voting rights
This campaign is an extension of a Campaign that was part of an angel syndicate led by Eileen Burbidge. The company has raised a total of £559,000 as part of their first close. This opportunity is part of the round’s second close. The CLN terms of both closes are identical.
As Nominee, Seedrs will hold the voting rights on the shares but will consult with Eileen, as Syndicate Lead, in respect of any investor consents required under the investment documents.
Convertible Loan Note terms
The key terms of the convertible loan agreement are set out below:
- Discount: 20%
- Valuation Cap: £50,000,000
- Default Valuation: £35,000,000
- Maturity Date: November 18th 2024
- Qualifying Financing: the company completing an an equity investment aggregating at least £10m.
- Non-Qualifying Financing: the company completing an equity investment aggregating less than £10m.
(1) On a Qualifying Financing, the loan will automatically convert into shares and on a Non-Qualifying Financing, each lender has the right to elect to convert the loan into shares. The conversion price will be the lower of (i) a 20% discount to the price of the Qualifying Financing or Non-Qualifying Financing or (ii) the Valuation Cap.
(2) On the Maturity Date, each lender has the right to require that the loan be converted into shares at the Default Valuation or that the loan is repaid.
(3) In the event a majority of the company's issued share capital is transferred, each lender will be entitled to request that either (a) the loan is repaid with a 10% premium on the loan or (b) converted into shares at the Default Valuation.
(4) On a winding up event, each lender can demand repayment of the loan.
Share class:
(a) On a Qualifying Financing or Non-Qualifying Financing, the class of shares issued to the investors in that financing or, at the election of the lender, ordinary shares.
(b) In any other event, the share class will be at the election of the lender.
Where conversion or share class is at the election of the lender, such decision will be taken by Eileen as Syndicate Lead on behalf of all investors.
Underwritten investment
Please note, Eileen Burbidge has underwritten the round for a further £500k on the same terms. This funding has been made available to the company but has not been spent. At close of the round the remaining underwritten amount, less any portion taken up by Seedrs investors, will be reflected on the campaign.
Carry fee
A carry fee of 20% will be charged on any profits investors make on their investment into Planera. This carry fee will be shared between Eileen Burbidge as Syndicate Lead for 15%, and Seedrs for 5%.
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