900.care raises €21m to expand its refillable hygiene products across Europe

French start-up 900.care has secured €21 million in a Series A funding round led by Lombard Odier Investment Managers, alongside existing investors White Star Capital, Swen Blue Ocean, and Founders Future. The company aims to reduce plastic consumption and the environmental impact of hygiene and beauty products through its refillable, subscription-based model.

Transaction snapshot

  • Deal value: €21m ($34.6m)
  • Deal type: Series A
  • Lead investor: Lombard Odier Investment Managers
  • Other investors: White Star Capital, Swen Blue Ocean, Founders Future

Founded in 2021 by Aymeric Grange and Thomas Arnaudo, 900.care sells small compressed sticks of active ingredients that, when dissolved in water, allow for over 15 different products, from shower gel to shampoo and deodorants. The company's products are made in France using natural formulas and are priced comparably to or lower than mainstream brands.

Since its launch, 900.care has saved the transportation of over 1 million litres of water and the production of 4 million plastic containers, avoiding over 1,500 tonnes of CO2 emissions. The company now has 90,000 customers and 235,000 active subscriptions, generating €10 million in revenue in 2023.

With the new funding, 900.care plans to:

  1. Strengthen its position in France
  2. Accelerate its footprint in several neighbouring countries, including the UK market starting in H2 2024
  3. Achieve profitability by the end of 2024
  4. Reach a turnover of €100 million within three years

In 2022, the company opened a new production site in Saint Etienne to support its expansion. The factory, designed specifically for 900.care's compacted powder products, has greatly improved the company's margins.

Investors believe in 900.care's potential to create a positive impact through its circular business model. Victoire Carous, co-manager of the Plastic Circularity portfolio at Lombard Odier Investment Managers, stated that the company's simple, easy-to-use solution, accessible to a wide consumer base and supported by an innovative industrial process, allows consumers to make a positive change in their daily lives.

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