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Crua Outdoors

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Crua Outdoors designs and develops thermally, acoustically, and light insulating tents or 'Cullas'.

131%
 - 
Funded 21 Jun 2023
£500,010 target
£660,641 from 397 investors
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Business overview

Location Tralee, Ireland
Social media
Website www.cruaoutdoors.com
Sectors Travel, Leisure & Sport Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 553249
Incorporation date 26 Nov 2014
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Investment summary

Type Equity
Valuation (pre-money) £10.7M
Equity offered 5.80%
Tax relief

EIS

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Business highlights

  • C. $2.4M Revenue in strongest year (2021)*
  • Raised $4.3M in Product Crowdfunding to date
  • Gross Margin grew to 65% in 2022*
  • Over 20,000 Products Shipped to +100 Countries
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Key features

  • Secondary Market
  • Nominee investment min. £16.98 +

Idea

Introduction

Crua Outdoors designs and develops thermally, acoustically, and light insulating tents or 'Cullas'. The company incorporates cutting-edge material technology into its unique designs to make life on the go more comfortable. Our mission is to provide campers everywhere, the best night's sleep in the wild.

- Industry Niche: Tent Temperature Regulation & Modularity
- $4.3M Equity Investment Raised to Date
- $3.7M*+ Generated Through New Product Introductions
- Addressing $689B (in USA) Outdoor Recreation Sector
- Goal of public listing or M&A event
- Possibility of Becoming an Industry Aggregator

Survey carried out by Crua Outdoors, in December 2022, with a total of 942 Respondents.

The thought of a bad night's sleep in a tent is a major problem for campers, and prospective campers. Always Too Hot, Too Cold, Too Noisy, Too Bright.

Insulated tents provide a more comfortable camping experience by regulating the temperature inside the tent. This results in a better night’s sleep and a more pleasant camping experience overall.

*based on unaudited management accounts.

Substantial accomplishments to date

CruaBreatheTM Technology uses a soft polyester outer layer and a thick hollow fiber polyester inner wall to provide the best insulation possible. This is designed to resist the conductive flow of heat, keeping the warmth generated by you and your camping companions inside your tent when it is cold, or the heat out when it is hot outside. This CruaBreatheTM Technology is at the core of our Culla Series inner tents.

Straight from Our Community!

“CRUA has changed camping for the better! - I now have several of the CRUA products including the xTent, the CRUA Culla Solo, the CRUA Haul and the CRUA Culla MAXX. Everything is of the highest quality and works exactly as designed. It has completely changed my camping experience. Thanks.”

Traction: We've built solid Foundations, and now we're pushing for Growth

Equity Crowdfunding

CRUA has incorporated Equity Crowdfunding into our strategy, right from our inception. Since the start, our community has been central in everything we do.

Product Crowdfunding

Product launch platforms are a perfect way for us to garner interest levels in our designs before committing to big orders. It also helps ensure that we get payment before placing orders, thus limiting risk. The platforms also help build brand awareness.

Monetisation strategy

Direct to Consumer Omni-Channel Approach

CRUA’s business model is primarily based on direct to consumer online sales through our own website - cruaoutdoors.com (recently upgraded to Shopify Plus Enterprise package to enable scale) and carefully selected third party marketplaces and drop-shippers such as Amazon and Bass-Pro.

Our Gross Margin currently is at c. 65% in 2022 and we’ve implemented changes through which we aim to raise this to above 70% in 2023/2024. We’re now also aiming to improve contribution margin and break-even at the bottom line in the same period. We've prioritized building excellent unit economics in 2023.

Our target audience is male, 40+ y/o, professional with an above average disposable income, primarily in the USA. This means that premium quality, performance and service are key, rather than price sensitivity. And, our USP gives us the opportunity to own this space. Hence the development of our R&D facility.

Planned Milestones:

Use of proceeds

Outdoor recreation is an enormous sector, which in turn offers CRUA a brilliant opportunity to disrupt and grow quickly, based on solving a very widespread problem.

According to Statista, 2023, "Worldwide Camping Market Revenue is projected to reach US$43.89bn in 2023, and is expected to show an annual growth rate (CAGR 2023-2027) of 9.12%, resulting in a projected market volume of US$62.23bn by 2027."

In order to take advantage of the opportunity before us, we intend to spend the funds raised in this round on the below:

- Working Capital/Stock
- Increased Marketing Activities
- Growing the CRUA Team
- Research & Development
- UX & UI Improvement across US, UK & EU E-Commerce Stores

Key Information

Material Debt:

The Company has the following outstanding loans:

1. $65,490 (USD) financing loan from Shopify Capital. The loan is to be repaid via commission charged on Crua’s daily revenue through Shopify which stands at 17% remittance rate. The current balance outstanding is $43,072.82 as of 12/04/23.

The funds raised from this investment round will not be used to repay these loans.

Employment & Investment Incentive Scheme (EII):

For Irish Investors the Company has previously been eligible for EII tax relief. After the close of the round the Company will arrange with any Irish Investors looking to seek EII tax relief.

Tax treatment depends on individual circumstances and is subject to change. Seedrs is not responsible for any part of the EII tax relief scheme process.

Investor Perks

Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.

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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

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 webpage has been approved as a financial promotion by Seedrs Limited (trading as Republic Europe) ("Republic Europe"), which is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Republic Europe platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Republic Europe platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

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 £10,701,441

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.

Pitch type

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Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

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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Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Nominee investment.

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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.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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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

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

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

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

A security token is a digital asset that represents ownership or other rights. It is a digital form of traditional investments. In the future, you may be able to trade your investment through compatible exchanges.

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