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212%
Raised
£849,050
Investors
898
Target
£400,000
Equity
22.65%
Pre-money valuation
£2,900,000

With a 74% margin achieved on sales so far, Skipping Rocks Lab is on a mission to make packaging waste disappear. The company’s first product, Ooho!, is a biodegradable and edible capsule for water made from seaweed. It is currently being trialled at events as an alternative to plastic bottles.

  • High profile press includes in the NY Times, Guardian, and BBC
  • Business Insider Ooho! Video has received over 20m viewings
  • Supported by Climate-KIC accelerator based at Imperial College London
  • Won the Wired Retail 2016 Start-up of the Year and Lexus Design Award
Information The team will be hosting an informal investor evening in London next Wednesday 19th April - meet the Founders and try an Ooho for yourself! Register your interest here: https://www.eventbrite.co.uk/e/ooho-investor-event-tickets-33577056881 The Company had £150,000 of its SEIS allowance remaining at the start of this raise. This was allocated to lead investors on a first-come-first-served basis at the outset of the pitch. Any investments made by Crowdcube investors after the SEIS allowance has been allocated will not be SEIS eligible but will potentially be eligible for EIS. The potential tax relief of any investment will depend on an investor's individual circumstances.

Idea

Skipping Rocks Lab’s mission is to make packaging waste disappear and Ooho! is our first product.

Ooho! is a sustainable packaging alternative to plastic bottles and cups, made from a seaweed extract. It is entirely biodegradable and so natural you can actually eat it! Ooho sachets are flexible packets of water, drunk by tearing a hole and pouring into your mouth, or consumed whole. Our packaging is cheaper than plastic and can encapsulate any beverage including water, soft drinks, spirits, and even cosmetics.

For 2 years, we have been developing the material and innovative production technology, for which we have recently filed a patent application. We are supported by the Climate-KIC accelerator based at Imperial College London. We want to solve the plastic waste problem and reduce climate impact from packaging.

Ooho! has received wide media traction; featured in the New York Times, Guardian, BBC, and Business Insider, whose Ooho video received over 20m viewings. We won the Wired Retail 2016 Start-up of the year, the Lexus Design Award and delivered a TEDx talk.

We’ve been selling Oohos from pop ups for the past 6 months in London and recently signed our first commercial license. We are speaking to event organisers, including Virgin Sports and Live Nation, to run pilots this year and major events in 2018. We believe Ooho! can be the global solution to water and drinks on-the-go.

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Risk warning

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.

Skipping Rocks Lab 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.