Yorkshire shower manufacturer seeks to raise £1.1m in second fundraise
A shower manufacturer is raising funds for an environmentally friendly BubbleSpa shower through Growthdeck.
Kelda’s BubbleSpa shower uses a patented technology to produce spa-grade water bubbles in a continuous stream. This technology builds on Kelda’s air-injection technology, utilising in its AirPowered shower product, where air flow is used to halve water and energy usage.
The company is forecast to increase its turnover more than 80-fold by 2024 with the new shower as the key driver.
This is Kelda’s second fundraise with Growthdeck, which is keen to continue to support the commercialisation of Kelda’s green technology. Kelda is now looking to raise £1.1m to launch the BubbleSpa shower.
The first fundraise helped finance the company’s initial development of the AirPowered shower. That is now featured in the ‘Z House’, the flagship zero-carbon home concept from the UK’s largest housebuilder, Barratt Developments, due to the 50 per cent energy and water savings it generates.
Since that first raise, Kelda has appointed a new CEO, Richard White, an industry specialist who was CEO of leading shower manufacturer Mira before selling it to multinational bathroom group Kohler. White also led the successful turnaround of Bristan, the bathroom products group.
Simon Emary, COO of Growthdeck, says: “We’ve been hugely impressed with the strides Kelda has made and we want to keep participating in its growth. COP26 brought home how energy-efficient technology is now a key consideration for domestic carbon reduction.”
“The company has continued to innovate, with the BubbleSpa building on Kelda’s pioneering technology. This fundraise will allow Kelda to commercialise a product which already has interest worldwide. It delivers a step change in low-energy, low-water showering.”
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