After a successful Pre-Seed- and Seed financing Last year, Everdrop secured another investment in the low eight-figure range. The lead investor in this round is London-based venture capital firm Felix Capital. In addition to existing investor HV Capital of Holtzbrinck Ventures, Vorwerk Ventures. The VC Felix Capital is known for investing in the B2C market and can support the Munich-based startup with sales expertise. Its previous investments include Deliveroo, Dott, and Oatly.
New markets, new employees
With the fresh capital, Everdrop plans to further advance its internationalization. The Munich-based startup launched its international expansion at the beginning of the year, entering the Swedish, Dutch, UK, French, and Italian markets. The team also plans to continue growing: from the current 50 employees to up to 90 by the end of the year.
Everdrop sells vegan and biodegradable tabs for all-purpose, bathroom, and glass cleaners. These can be dissolved in reusable spray bottles made from recycled plastic. This avoids having to use a new plastic bottle for each new all-purpose, bathroom, or glass cleaner. Laundry detergent has also recently been added to the Munich startup's product portfolio. Its innovative approach: Based on the customer's zip code, Everdrop individually adapts the detergent to the water hardness. This is said to save up to 50 percent of the surfactants used.
The company is run by founders Chris Becker, Daniel Schmitt-Haverkamp, and David Löwe. They have been on the market with Everdrop since 2019 and have been pleasantly surprised by how well their product has been received. They told Munich Startup:
"Frankly, none of us expected that so many people would be truly interested and willing to change their consumer behavior in favor of sustainable products. Assuming that 1 tablet saves one newly purchased bottle of cleaning product, we've already saved over 1.3 million disposable plastic bottles."
