Published: Feb 28, 2022
Focus: Growth Capital, NPIF Maven Equity Finance
Maven has led a £4.25 million funding round for Mypura.com Group (Pura), a fast-growing baby care brand which specialises in eco-friendly baby wipes and nappies.
Since it launched in 2020, the business has experienced rapid growth driven by its disruptive marketing, quality products and environmental credentials. Pura is on a mission to “democratise eco” with its multi-accredited, affordable, 100% plastic-free baby wipes and eco-friendly nappies. The Pending B-Corp and Carbon Neutral business is also spearheading a nappy recycling scheme in the UK via its Pura NappiCycle partnership.
The business has a large addressable market and a competitively priced product, positioning Pura as an appealing option for consumers looking to move away from traditional established brands to more agile eco-ethical brands. Led by Guy Fennell, an experienced fast moving consumer goods (FMCG) retailer and entrepreneur, and supported by an experienced senior management team, Pura has invested a significant amount in research and development, which includes proprietary IP in the product.
Originally set up to sell direct to the consumer, the funding will support Pura’s expansion into B2B sales targeting the supermarket sector, including the US, and allow for increased investment into marketing to help drive its growth.
“Pura represents an exciting opportunity for our investors to back a high growth ESG brand with strong environmental credentials and one which has developed an innovative range of products for both consumers and large retailers. The business has built up scale in a short period of time, by an experienced and credible management team, who have personally invested significant sums into the Company. Given the quality of the business and the wider macro sentiment around environmental and sustainable brands, we see significant growth potential for Pura over the coming years.”
James Rosthorn, Senior Investment Manager at Maven
“Supporting ambitious North West based businesses like Pura is what NPIF Maven Equity Finance was set-up for. Pura has developed two routes to a large and growing market and has proven that its products perform to a high standard and at a competitive price point. The business has also built a differentiated brand that is addressing the demand from consumers for eco-friendly, sustainable household items and we are excited by its future potential.”
Dean Cox, Senior Investment Manager at NPIF Maven Equity Finance
“We’re delighted to welcome Maven onboard as we begin a new and exciting chapter in the Pura story. Pura started out as a small business with very big ideas and our success in such a short time has demonstrated that we have a viable business model with strong growth potential. Maven’s investment and expertise will help us scale up to the next level in 2022. Ultimately, the funding will help us make it even easier for more parents to make a positive change and switch to baby care that is good for the planet and their baby.”
Guy Fennell, Pura founder and CEO