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Rubies in the Rubble

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Award-winning condiments made from wonky and surplus ingredients. Welcome to the food waste revolution!

112%
 - 
Funded 9 Jun 2023
£500,002 target
£564,777 from 316 investors
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Business overview

Location Dorchester, United Kingdom
Social media
Website rubiesintherubble.com
Sectors Food & Beverage Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 07931505
Incorporation date 1 Feb 2012
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Investment summary

Type Equity
Valuation (pre-money) £6M
Equity offered 8.63%
Tax relief

EIS

Co investor Pembroke VCT

Pembroke is a venture capital trust focusing on growth stage companies in the design, education, food, beverage & hospitality, wellness, digital services and media sectors.

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Business highlights

  • We're a pioneering FOOD WASTE FIGHTING brand in the UK
  • We're one of the FASTEST GROWING ketchups in the category*
  • We've so many Great Taste Awards - we're a GREAT TASTE PRODUCER
  • We're LISTED in over 1000 sites nationwide
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Key features

  • Secondary Market
  • Nominee investment min. £11.40 +
  • Direct investment min. £50,000.00 +

Idea

Introduction

Hi, we're Rubies in the Rubble - a sustainable brand dedicated to doing Gooder.

We believe in food that isn't just good for you but also good for our planet.
We call this our pursuit for Gooder.

Gooder for your plate,
Gooder for you
and Gooder for our planet

So, knowing that food production is the single largest contributor to climate change and we are wasting 1/3 of it - We made it our MISSION to change it!

Our award winning condiments are packed with delicious ingredients that would otherwise go to waste, often simply for being the wrong shape, size or colour – meaning less waste, more taste.

Having built a trusted brand and grown our distribution in Waitrose, Ocado, Coop, Marriott, The Pig and many others, we've already saved over 720 tonnes of fruit & veg from going to waste!
But this barely scratches the surface of the problem.

The condiment market is over £100 billion globally and whilst millions of tonnes of food are wasted each year - we have our work cut out...

We are hitting the mainstream and we need your help to get Gooder Sauce on every plate.

*based on Ocado sales data from 2022

Substantial accomplishments to date

Since Rubies began we have been focused on inspiring people to celebrate food through our award winning range - transforming a meal & act as a little reminder to value all you have.

Here are a few great milestones from along the way!

And a few awards to celebrate our innovations and acheivements..

AWARDS
So many Great Taste Awards we were awarded The Great Taste Producer Award
Food Matters Live Innovation WINNER
Causal Dinning show Innovation WINNER
Global Shaper – World Economic Forum (attending Davos to speak on Food Waste Panel)
Everline Future Business Award 2016.
Food Star 2015
Investec Food and Drink Award Entrepreneur, 2014
Veuve Clicquot New Generation Business Women Award 2014
Marie Claire “Women at the Top 2014’
Good Housekeeping Food Hero Award 2013
Winner of Ben and Jerry’s Sustainable Business Award Join our Core Campaign 2012

Monetisation strategy

The ketchup market is over £430M in the UK alone.

We aim to take 3% of the UK ketchup market in the next 3 years as well as exploring opportunities for an expansion into overseas markets.

In the UK, 97% of the ketchup market is in squeezy formats therefore we have created a NEW, 100% recycled & recyclable squeezy to compete with the mainstream market.

We have already seen double the rate of sales in ketchup from switching from glass to squeezy formats* and our mayo range (plain, garlic and chilli) will join in squeezy format this summer too.

We are focused on winning in both the off and on-trade market and have developed a range of formats to service all needs including front of house pumps for canteens, table top refill bottles, ramekins and back of house bulk.

*based on Ocado sales data taken between August 2021 and August 2022

Today, we have a multi-channel distribution strategy focusing on:

- Major + Independent Retailers
- Food Service (including restaurants, contract catering, cafes, pub groups)
- Food Box Delivery Services
- Wholesale Distributors

Our existing range of ketchup and mayos continue to grow year on year. We expect continued growth in 2023 having just won a listing with a large retailer & distributors including Bidfood and Brakes.

Use of proceeds

It is an incredibly exciting time to get involved in Rubies in the Rubble and join us in the fight against food waste.
We have established our brand, built an amazing team and developed a range of branded formats to win in multiple categories - giving us a fantastic platform for growth.

The proceeds from this raise will be used to accelerate our sales and marketing reach through:

• Sale activation & trail: We have a strong repeat purchase rate with current customers therefore our focus is on trial and raising brand awareness.

• People: We have a lot of interest for our products therefore we need to grow our sales team to reach more sites.

• Brand awareness: People that hear about our brand, fall in love with it.
We need to reach more people and convert them to the Gooder sauce.

We have the brand, we have the product, we have the team.
We now just need you to back us for the next stage!

Together we can make change.
Join us in getting Gooder sauce everywhere!

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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 Rubies in the Rubble has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 28 April 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 £5,976,585

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.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

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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

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