Wype arranges seed funding to develop alternative brand of wet wipes | New

Sustainable personal care challenger Wype has secured pre-seed funding ahead of a larger round later this year to help bring its wet wipe innovation in a bottle to supermarket shelves.

The rapidly growing brand produces an organic gel to apply to toilet paper as an alternative to using wet wipes.

Currently sold on its DTC website and Amazon, Wype has racked up £1m in cumulative sales since launching in 2020, with average monthly growth in 2022 of 23%.

The company raised £310,000 in the pre-seed round, led by venture capital firm Velocity Capital, alongside angel investors. He used the money to grow the team, improve the website and attract new customers to the brand in an effort to increase sales.

Wype is now aiming to raise more than £1m in a larger funding round in the fall to fund its NPD pipeline and an expansion into the retail channel.

It comes as the government plans to ban wet wipes as the 11 billion the UK uses each year clogs sewage systems and pollutes rivers and beaches, with an island the size of two tennis courts disposable product tennis that changed the course. of the Thames last month.

Holland & Barrett stopped selling wet wipes in 2019, while Tesco became the first major UK retailer to ban baby wipes containing plastic earlier this year, with Aldi and Boots following suit.

However, Wype co-founder Giorgia Granata said switching to flushable wipes won’t solve the problem.

“There is growing interest in intimate hygiene, and wet wipes are pushing hard to become the premium alternative to toilet paper,” she added. “But ‘flushable’ wipes are an oxymoron, having been found to be 88 times more likely to form a clog than regular toilet paper.”

Co-founder Eli Khrapko said, “Consumers are actively looking for real alternatives. We are indeed building a new category and Wype’s continued growth potential is vast.

Wype has so far stopped more than 25.4 million wet wipes from ending up in waterways or landfills, according to the company.

The brand’s hypoallergenic gel is made with a combination of aloe vera, chamomile, and other moisturizing ingredients. It is sold with a refillable recycled aluminum bottle.

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