Flexi Hex successfully raised £300,000

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217%

Raised: £651,770

Investors: 799

Target: £300,000

Equity: 15.70%

Pre-money valuation: £3,500,000

Started in 2018, Flexi-Hex provide a patented design allowing for a plastic-free solution to the $756 billion protective packaging industry. The award-winning product is already distributed in 19 countries with 158% YoY growth in sales. Backed by Sky Ocean Ventures.

Patented design granted to provide a plastic free packaging solution
Lead investment by Sky Ocean Ventures and an Innovate UK grant
Aiming to disrupt the $756 billion protective packaging industry
154,000 sleeves sold across 19 countries with YoY growth of 158%

Idea

Flexi-Hex is an innovative, sustainable, paper-based, protective packaging material designed to replace single-use plastic packaging for various products across many industries. Flexi-Hex is made from recycled paper pulp and is curbside recyclable and biodegradable. The global protective packaging market Flexi-Hex is operating in is worth $756bn annually.

We first launched as a solution for the board sports niche, then the drinks market, but the potential applications for the product are far-reaching. Since first trading in 2018, we have initially experienced rapid growth; Flexi-Hex is currently distributed in 19 countries and, to date, 154,000 units have been sold (removing the equivalent of 389km of bubble wrap, equivalent from London to Paris!). Sales growth of 158% to £216,245 YE 2019 (Loss £116,281). Scalable operations are in place for production to meet demand.

Flexi-Hex has secured lead investment from Sky Ocean Ventures and a grant from Innovate UK. We have won industry awards, including The Surfers Against Sewage Plastic Re-Innovation Award 2019 and The Eco Pack Challenge.

Flexi-Hex's growth plan includes extending our product offering beyond boardsports and drinks into new markets: Automotive, Cosmetic, Electronic, Pharmaceutical, Homeware, broadening our distribution network and initiating global licensing agreements making use of pending International Patents.

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Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

Flexi Hex has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.

Idea

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