Eco-friendly laundry care brand secures £500,000 follow-on investment
Clothes Doctor, which specialises in premium eco-friendly laundry care products has secured a £500,000 follow-on equity deal to support its plans for global expansion.
The money from the Cornwall & Isles of Scilly Investment Fund (CIOSIF) came via appointed Fund Manager, The FSE Group, as part of a £1m round that includes funding from private investors.
It follows an initial investment in 2022 and aims to fuel the company’s global expansion and further its commitment to sustainable innovation, creating several new jobs across the business.
Founded in 2017, Clothes Doctor has grown rapidly with its range of plastic-free, palm oil-free, and vegan-friendly laundry care products. With more than 100,000 customers and 190 high-end wholesale clients across 65 countries in five continents, the company has positioned itself as a frontrunner at the premium end of the £106 billion global clothing care market.
With its biodegradable, Made in Britain formulations, Clothes Doctor products can be used as an alternative to expensive and time-consuming dry cleaning. The decision to use aluminium containers, which are lighter and more recyclable than plastic, further underscores their commitment to sustainable production.
Lulu O’Connor, Clothes Doctor founder and CEO, said: ” This investment marks a pivotal moment for Clothes Doctor. With FSE’s support, we’re not just expanding our reach; we’re redefining eco-friendly laundry care on a global scale. Our innovative products, such as our ‘spritz’ line and our renowned wool and cashmere detergents, are setting new standards in the industry. We’re committed to continual innovation and sustainability, and this funding will propel us into new markets and opportunities.”
The latest funding follows a £500,000 CIOSIF investment from FSE in 2022, since which, Clothes Doctor has seen a 300% increase in revenue. Although CIOSIF is closed to new investees, the fund managers are able to support businesses that have previously benefited from the fund.
Meg Salt, FSE investment manager, said: ” We are incredibly impressed by the strides Clothes Doctor has made and our continued investment reflects our confidence in their innovative products and strategic vision. Lulu is a collaborative, forward-thinking founder and under her leadership the company has shown remarkable growth. This is a fantastic opportunity to further support a strong management team in a highly-scalable business and we are excited to continue to work with Clothes Doctor as they expand their global footprint.”
