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Tharos

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Tharos has a proven, revenue-generating business in equine gut health, now launching into canine market

104%
 - 
Funded 9 Jul 2026
£165,000 target
£176,052 from 62 investors
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Business overview

Location Walsall, United Kingdom
Social media
Website tharos.co.uk
Sectors Healthcare Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 09921792
Incorporation date 18 Dec 2015
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Investment summary

Type Equity
Valuation (pre-money) £9.1M
Equity offered 1.85%
UK tax relief

EIS

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Business highlights

  • Strong early traction & momentum shown
  • Canine growth supported by solid equine revenues
  • Experienced team with proven track record
  • Strategic partnerships and patent protection
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Key features

  • No Secondary Market
  • Nominee investment min. £21.00 +

Pitch

About the Campaign

We are raising to scale our patented natural malt enzyme into the canine gut health market — on the shoulders of three years of equine proof: 2,500+ customers, 70% repeat, Household Cavalry, Met Police, IVC Evidensia.

Market Opportunity

Pet and equine supplements: $4+ billion, growing 7%+ annually. Actively
consolidating — Nestlé / Petivity, Vetnique / Lintbells, Morgan Stanley /
FoodScience.

Tharos is an early innovator in the use of malt enzymes for animal gut health.protected by four patent families (two granted, UK + US). Our 2029 target of £25.6m would be under 1% of this category.

Traction & Key Accomplishments

12 independent studies: our approach delivers calmer behaviour, firmer stools, better skin and coat.

Proven Traction: 2,500+ active customers. Subscription model with minimal churn and 70%+ repeat purchase rates and over 19,000 orders fulfilled.

Delivered £726k revenue (2025).
*Based on unaudited management accounts.
Multi-Channel Growth: D2C via veterinary referrals (30-40%) and social media based on our estimation.

B2B partnerships across UK, EU, USA.

IVC Evidensia (UK's largest vet group) approved. Sustainability Edge: 40-50% lower carbon footprint vs dairy probiotics.

Partners include Blue Cross and a global corporate white-label customer. 4 patent families, 2 patents granted.

Use of Funds

Launch Caninectar in the UK D2C. Recruited over 80 professional dog microinfluencers to build brand recognition and faster market adoption.

Grow Equinectar-usa.com utilising the same strategy as Caninecatar.

Grow EU retail and vet channels to replicate sucess of https://www.zenhorse.fr/en/

Key Information

Key information investment sheet

Key Investment Information Sheet is available by downloading the following documents:

Outstanding Debt

The company has the following outstanding convertible loans, which may convert to equity after this round and dilute existing shareholders:

1. £175,000 secured convertible loan note from the founders and directors, with the following key terms:
Interest rate: 15%
Conversion trigger: On exit
Conversion price: £1.25
Valuation Cap: None
Share class: Ordinary
Repayment date: 31 December 2027

2. £109,000 unsecured convertible loan note from the founders and directors, with the following key terms:
Interest rate: 20%
Conversion trigger: On offer of repayment
Conversion price: 70% of the current price of ordinary shares
Valuation Cap: None
Share class: Convert to ordinary shares
Repayment date: 30 months and can be rolled over if the majority of the Note holders agree

Previous Share Issuance

The company previously raised approximately £35,000 from existing shareholders at a share price of £1.20 per share. This raise was conducted as a limited-offer made exclusively to existing shareholders over a three-week period and reflected a discounted price relative to the current fundraising round.

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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

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 Tharos has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 21 May 2026 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 £9,098,538

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 Republic Europe.

Pitch type

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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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Business Involvement

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