London based natural deodorant brand secures £1.5m investment
A new natural deodorant brand has secured £1.5m in funding from a “digital-first” consumer brand investment firm.
London’s AKT will use the investment from Stonebridge to increase the plastic-free firm’s footprint across Europe, in addition to enhancing its subscriptions, loyalty programs and eCommerce experiences.
The firm, founded by Ed Currie and Andy Coxon in 2020, also plans to develop its range of 100 per cent recyclable products beyond the deodorant balms.
Andy said: “We wanted to create an earth conscious, natural deodorant with high end fragrances designed for all genders. Our customers don’t want to smell like teenagers anymore. In fact many of our customers use the deodorants as a replacement for their perfumes as they can’t get enough!”
Managing partner at Stonebridge, James Cox said: “Natural deodorants have been gaining significant momentum with consumers due to growing awareness of the potential harmful effects of aluminium-salts in deodorant formulas.
“The organic deodorant market is set to be worth $159m by 2025, AKT’s perfect blend of style and substance positions them well as a future winner, with the same attributes giving them license to extend the range at speed.
“They have these incredibly sophisticated fragrance profiles that actually perform. It really works as an effective deodorant. Something, other brands in the space haven’t achieved.”
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