Everdrop raises $21.8m Series A round led by Felix Capital for its dissolvable cleaning tablet
It's almost too simple. You get a tablet made of household chemicals that can be dissolved in water which can become a cleaning spray for the kitchen, glass and bathroom, with no need to ship the water it is dissolved into because it literally comes out of your tap. That was the premise of Munich-based startup everdrop and it's been a hit not just with consumers, but also with investors. It's now raised an 18m ($21.8m) Series A funding round led by Felix Capital, with participation from HV Capital and Vorwerk Ventures. Everdrop now plans to develop a wider range of sustainable household products and market them across Europe, and eventually the US.
Launched in Dec 2019, the cleaning tablet also removes the need for single-use plastic bottles, thus appealing to environmentally conscious consumers, (unusually for a consumer good company, the startup has 110,000 followers on Instagram).
Everdrop estimates it was able to eliminate over 2.5 million single-use plastic bottles with their tabs.
David Lowe, Co-Founder of everdrop told me in an interview that while it might be possible to clone the company's formats, it would not be easy to replicate its water hardness calculator: Plus, the individualizing of the laundry detergent is quite unique. I think there's no one out there in other countries who are doing that at the moment... But obviously, other companies could potentially do that too."
Everdrop competes with Grove Collaborative, Blueland and to some extent The Honest Company.
Lowe told me: If I'm very honest, it would be cool if the other companies would do it because this is something that I'm really convinced about. If we inspire with our success, the big corporations could finally change into more sustainable products."
As well as the tablet, everdrop now has a range of sustainable laundry detergents, also microplastic-free, which addresses water hardness by tailoring the detergent to the water in the customer's home area. This means everdrop can save up to 50% of the unnecessary surfactants in the detergent. Laundry detergent is the biggest chemical emitter in private households. Everdrop estimates its approach saves 250 tons of unnecessary surfactants from going into the environment.
Its latest product is a naked" dishwasher tablet which doesn't have the plastic wrapper that usually envelops these products.
David Fischer, investor at HV Capital said: It is incredible how a truly sustainable brand such as everdrop has a similar growth trajectory in its inception year as its D2C peers Hims and DollarShaveClub."