Balderton Capital and JamJar Investments back smol
UK-based eco-friendly detergent subscription service smol has bagged £8 million in a Series A funding led by Balderton Capital and also including JamJar Investments.
The venture, which was created in 2018 by former Unilever employees, Paula Quazi and Nick Green, will use the cash to push into new product categories, expand further into new markets and bolster its team.
“We feel very fortunate to have both Balderton and JamJar join our team. They bring great knowledge and expertise that is invaluable as we look to accelerate our growth. It’s an exciting time for us. With scale comes even more opportunity to have a positive impact,” says Green.
“When people think of technology disruption, it is normal to think of digital products and internet tools. However, technology has the power to make life better for us in the most unexpected ways and we believe Paula, Nick and their amazing team have tapped into just such an opportunity at smol,” comments Suranga Chandratillake, Partner at Balderton Capital.
“Every day, its products are used to wash the clothes and dishes of a quarter of a million households across the UK. Each time, the company saves customers money, cleans more effectively and leaves less of a mark on the planet.”
“Household cleaning is a great example of a product category where giant incumbents have ignored potential innovation. smol has exploited that complacency, built a product people actually want and, as a result, got people excited about laundry and dishwashing all over again,” Chandratillake concludes.
