CLEANING UP THE DETERGENT INDUSTRY.
CAUSE CAPITAL FUND THE CRAFTORY INVESTS $16M iN DROPPS - THE LEADING NON-TOXIC, PLASTIC-FREE DETERGENT COMPANY
The Craftory has invested $16 million in Dropps to help it extend its positive impact.
This investment will allow Dropps to scale up and meet the growing demand for its subscription business. Dropps intends to expand its team and product development capabilities.
THE CAUSE: PROSPER SUSTAINABLY
It’s no secret that the world’s oceans are rapidly becoming unrecognizable as the impact from human activity strips them of marine life. Over 85% of the world's oceans are said to be dying, with plastic pollution and excess chemicals playing a significant role(1).
Dropps, the direct-to-consumer household cleaning products company, is on a mission to transform this reality: its affordable, eco-responsible cleaning products are more effective and better for both people and the planet.
Dropps is radically reducing waste by removing all superfluous elements from its products. Dropps laundry and dishwasher pods use zero-plastic packaging and highly effective plant-based formulas.
CONSUMER OVERDOSING
The global laundry detergent market was valued at over $119 billion in 2019(2), a figure expected to rise considerably as the global population grows. Yet – alarmingly – 90% of people get the dosage of laundry detergent wrong(3). The same is true for dishwasher detergent.
This unintentional overdosing means more detergent ends up in the water cycle, thereby exacerbating the negative impact(4) on plant and animal life in our oceans, rivers and lakes.
While pods include less water, less packaging and contribute less CO2 into the atmosphere, they usually come in a standardised size which reduces our control over the amount of detergent we use for each wash.
This is why Dropps introduced half-dose pods giving customers greater control over the amount they need for each wash – helping them reduce their negative impact, one drop at a time.
REMOVING THE STUPID
Dropps ensures that people never have to compromise on efficacy and sustainability. All of its products provide better alternatives – both in the ingredients and the packaging.
Thanks to Dropps, nearly one million single-use plastic bottles, jugs, and tubs have been prevented from polluting oceans and waterways.
JONATHAN PROPPER, FOUNDER AND CEO OF DROPPS SAID:
“The Craftory is an ideal partner for our business and I’m humbled by their investment. Their founders and operational team provides more than just money to their portfolio companies. In addition, The Craftory’s revolutionary investment philosophy aligns well with our mission-driven values so we can maintain our triple-bottom line of social, environmental and financial impact.”
ELIO LEONI SCETI, CO-FOUNDER & CHIEF CRAFTER AT THE CRAFTORY, SAID:
“Dropps is a model challenger brand making the right choices for the planet and its consumers. We have been impressed by Jonathan, a seasoned entrepreneur with more than 30 years of experience in the fabrics and detergents industry.”
ERNESTO SCHMITT, CO-FOUNDER AND ARCH CRAFTER AT THE CRAFTORY, SAID:
“When a third of all detergents are wasted and with a supply chain built on single-use plastic and unnecessary chemicals, anyone can see that this is an industry crying out for innovation.
“We were drawn not only to the mission-based approach of the Dropps team but also the ‘no bullshit’, simple approach they take to fixing a broken industry. The ‘find the stupid and remove it’ mantra speaks to our own goal of backing the companies that will transform the world for the better and we couldn’t be prouder to be welcoming them into The Craftory family.”
ABOUT DROPPS
The Philadelphia-based company invented the original liquid laundry detergent pod in 2008 and is now widely regarded as one of the US’s leading challenger brands. Since then, laundry detergent pods have taken the world by storm, with unit dose detergent sales making up 18% of the $7.3 billion US market in 2018(5).
Dropps was named EPA Safer Choice Partner of the Year for outstanding achievement in formulation and product manufacturing of both consumer and institutional/industrial products, and was ranked on the 2019 Inc. 5000 list of America's fastest growing companies(6).
ABOUT THE CRAFTORY
Based in London and San Francisco, The Craftory is a $375M global investment house focused on cause-driven CPG brands that positively impact the categories they serve, society, and the planet.
We offer permanent, early stage and growth capital, as well as strategic expertise that covers industry networking, founder mentoring, branding, marketing science, innovation, and scale up.
The Craftory is a proud B-Corp, a member of Diversity VC, and certified carbon negative.
The Craftory was advised by Squire Patton Boggs.
thecraftory.ioFootnotes
(1) World Wildlife Fund
https://www.wwf.org.uk/fight-plastic-pollution
(2) Statistica
https://www.statista.com/statistics/921440/laundry-detergent-market-value-worldwide/
(4) Eutrophication
Many household brands of detergent contain a warning in the small print: “Harmful to aquatic life with long-lasting effects.” They refer to the chemicals, perfumes and coloring in most detergents that can contribute to a process known as ‘eutrophication’, by which an aquatic ecosystem slowly dies due to continual oxygen depletion.
(5) Market Research Future
https://www.marketresearchfuture.com/reports/laundry-detergent-pods-market-7332
(6) The EPA
https://www.epa.gov/saferchoice/safer-choice-partner-year-award-winners-2017