Tosh Products, the creators of a reusable, fully biodegradable takeaway coffee cup, are looking for a £100,000 investment through their crowdfunding campaign on Crowd2Fund.
Most takeaway coffee cups contain contain plastic or wax and can’t be recycled, meaning over 100 billion go to landfill each year globally. Tosh Products founders David and Alison McLagan set out to change this, creating reusable, biodegradable takeaway cup made from naturally organic bamboo fibre.
The cup has a lifecycle of between three and four years, after which it can be composted. It is dishwasher safe and comes in three sizes, with over 50 designs in total.
The McLagans are now looking to take the company to the next level, and are seeking a£100,000 investment via Crowd2Fund: giving the public a chance to support their mission and, with the single-use takeaway cup sector worth US$27billion globally, potentially earn impressive returns.
The founders have ambitious growth plans for the business over the next five years, with plans to introduce a range of complimentary products targeting other areas of single-use waste. David says: “Our objective is to become the leading brand to facilitate re-use instead of single-use.”
The company is raising a loan in order to accelerate growth – and is building a team of investors who believe in the brand and will support them for the longer term. The funds will be used exclusively to meet rapidly growing global demand.
Alison says: “A 40ft container of product costs around US$80,000 and we are currently ordering around 12 per year. This will rise to over 40 by 2018 – hence the demand for funds.”
Up until this point, the business has been entirely self-funded by founders Alison and David. However, David sees the crowdfunding campaign as a way to connect with customers and raise funds simultaneously:
“We think it’s a much more human approach and provides us with a great way to speak directly, and be shaped by, the people who truly believe in our brand and what we are doing.”
The campaign features a number of different rewards for investing, including the potential to create a customized Ecoffee Cup. For more information, visit their campaign page on Crowd2Fund.com.