smol, the UK’s fastest-growing homecare brand, is celebrating its third anniversary. Now, the company bagged $34 million (nearly £24 million) Series B funding led by Eight Roads Ventures alongside Google Ventures, Latitude, and existing investors Balderton Capital and Jam Jar.
Expansion plans
The new funds will allow the company to continue investing in new product development and expand into other European markets. smol notes that the pandemic has further increased the demand for its products, driven by their convenient home delivery and sustainable approach.
“The last year has further increased consumers’ awareness of the ecological impact our everyday actions have, and the role younger brands can have in making a positive difference,” said co-founder Nick Green, pointing to a recent Brandbean study that showed over 80% of consumers switching brands or products last year in order to be more eco-friendly, and trusting smaller brands to offer better eco-friendly products.
Michael Treskow, Partner at Eight Roads Ventures commented, “The stagnant household care market…
