Skipping Rocks Lab, the company behind the product, Ooho!, has successfully secured its initial £400,000 funding target through Crowdcube. The company launched the initiative a few days ago and attracted nearly 450 investors already.
The company described Ooho! as a sustainable packaging alternative to plastic bottles and cups, made from a seaweed extract. It is entirely biodegradable and so natural that users can actually eat it. It was also revealed:
“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.”
Skipping Rock Labs also noted that for the past two years, its team has been developing the material and innovation production technology for Oocho! and has even filed a patent application. It is supported by the Climate-KIC accelerator, which is based at Imperial College London. The company noted it also has been selling Ooho! from pop-ups for the past six months in London and recently signed its first commercial license. Funds from the campaign will be used for the Skipping Rocks Lab’s expansion. The company noted:
“We are raising £400,000 alongside £200,000 of further grants which will provide 18 months runway. Half of the budget is allocated to machine development and the rest will be spent on building the technical team to further research the material and to facilitate a faster path to commerciality for future products.”
Skipping Rocks Lab also noted that it successfully secured £130,000 in grants to date. The initiative is set to run until early May.
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