From the founders of Bulldog Skincare, Waken is raising funds to build a next-generation oral care brand
Business overview
Location | London, United Kingdom |
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Social media | |
Website | www.wakencare.com |
Sectors | Home & Personal Non-Digital B2C |
Company number | 11549393 |
Incorporation date | 3 Sep 2018 |
Investment summary
Business highlights
- Award winning and innovative products.
- Listings with key UK retailers including Tesco.
- Built and run by the team behind Bulldog Skincare.
- Experienced growing and exiting a global brand.
Key features
Pitch
About the Campaign
Waken was created by the team that built Bulldog Skincare into a global brand, and sold it in 2016. This is the next venture.
The company is raising funds to strengthen and grow its listings at leading retailers like Tesco and Boots.
Waken believes oral care is ripe for disruption.

Market Opportunity
The global oral care market is valued at $33bn (Source: Oral Care Market Size, Share & Industry Analysis – Fortune Business Insights 2024).
This large market presents opportunities for innovation. Waken is positioned to address a range of consumer needs with products including mouthwash, toothpaste, toothbrushes, floss and more...

Traction & Key Accomplishments
Waken has already made good progress:
• £5.4m in Net sales and 3.4m units of oral care products sold to date (2019-2024).*
• Net sales of £1.7m in the twelve months to 31 July 2024*
• Listings at Amazon, Asda, Boots, Ocado, Sainsbury's, Tesco, Waitrose and more...
• International sales in Singapore, Malaysia, Turkey and others.
• Over 4,300 5-star reviews on Amazon and Ocado.
• International Supply chain and SAP system in place to support scalable growth.
(* Based on unaudited management accounts. Past performance is not a reliable guide to future performance).

Use of Funds
This funding will help Waken develop its business in the UK and internationally. The company believes it has opportunities to grow at existing retailer accounts and online. It should also help the company to build towards breakeven.

Key Information
Share classes
The Company currently has three classes of shares, A Ordinary Shares, Ordinary Shares and WSL Preference Shares. All investors in this round, including Republic Europe investors, will receive A Ordinary Shares.
• A Ordinary
- Voting rights
- Dividend rights
• B Ordinary
- Non-voting
- No dividend rights
• WSL Preference Shares - held by an existing investor, Wilkinson Sword
- Non-voting
- No dividend rights
- 1x non-participating preference, with the option to convert to A Ordinary Shares (as described below).
Liquidation waterfall
On a liquidation or exit, the surplus assets shall be distributed as follows:
• First, the holder of WSL Preference Shares will have the option to (i) receive £1 per WSL Preference Share which is currently a return of £3,697,906.00 or (ii) convert to A Ordinary Shares and participate alongside Ordinary Shareholders, at such conversion rate that would entitle them to 15% of the Ordinary Shares on a fully diluted basis;
• Second, A Ordinary Shareholders and B Ordinary Shares will receive their share of the remaining proceeds pro rata to the number of shares held by them.
Preference shares
The company capitalised a prior loan into preference shares. These are non-voting and are in all material respects a loan interest structured as equity. There are 3,697,906 WSL Preference Shares in issue and the total capital return is currently £3,697,906. These are repayable on a liquidation or exit. As a result, these shares have not been factored into the share price for this round.
However, as part of an exit or liquidation event, the holder of WSL Preference Shares has the option to convert the WSL Preference Shares into such number of A Ordinary Shares as would entitle them to hold 15% of the Ordinary Shares on a fully diluted basis. This would dilute the remaining holders of Ordinary Shares.
Founders Interest
Simon Duffy, founder and director of the company, is also a director of the following non-compete companies:
• Cheeky Panda Limited (Non-exec). Eco-friendly paper products. Not competitive or business relationship.
• Truity Limited (Director). This company is not actively trading and was set up to develop products in a different category. Not competitive, will be wound down this year.
• Greenery Skincare (Director). Dormant company. Not competitive.
• Corney & Barrow Limited (Non-Exec Director). Not competitive. Wine merchant.
Founder and Director Rhodri Ferrier has the following Directorships:
• Truity Limited (as above)
• Greenery Skincare Limited (as above)
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