Dropps will use the $16M USD investment to continue on its mission of disrupting the CPG household cleaning category with sustainable products shipped direct-to-consumer.
Company Release - 2/18/2020 7:00 AM ET
(Philadelphia, PA) – DROPPS, the eco-friendly direct-to-consumer household cleaning products company, has entered into a monetary partnership with The Craftory — a London based global investment fund focused exclusively on amplifying the world’s boldest consumer brands. The investment of $16M USD from The Craftory will provide leverage in supporting Dropps' on-going eco-responsible mission of disrupting its designated household cleaning categories of home laundry and dishwashing, which is currently valued at $17.4B USD combined.
“The Craftory is an ideal partner for our business and I’m humbled by their investment” said Jonathan Propper, founder and CEO of Dropps. “Their founders and operational team provides more than just money to their portfolio companies. In addition, The Craftory’s revolutionary investment philosophy aligns well with our mission-driven values so we can maintain our triple-bottom line of social, environmental and financial impact,” continued Propper.
Dropps reinvented the way consumers do laundry with the invention of the liquid laundry detergent pod four years prior to “big laundry’s” entry into the category. In 2017, Dropps became exclusively direct-to-consumer by offering cost-saving subscription plans shipped via sustainable packaging; eliminating third-party retailers from its distribution chain. This autonomy has allowed the brand to thrive in providing eco-responsible cleaning products with reduced environmental impact, which saves money, time, water and plastic.
Known for its cause-driven investment tactics, The Craftory only partners with CPG brands that positively impact the categories they serve, society as a whole, and the planet. These non-traditional core values, coupled with its desire to back disruptive challengers toppling lumbering corporates in the consumer goods space, makes The Craftory an ideal financial and operational partner for Dropps; a brand known for challenging the status quo of its industry.
With the investment, Dropps plans to continue to grow at an organic pace by broadening their product offering, expanding market reach and building an infrastructure that allows for them to offer the most sustainable lifestyle products to consumers and industries alike.
As sustainability and overall well-being remains a key priority for consumers, Dropps is poised to capture a sizable share of the growing CPG household cleaning category. Now more than ever, consumers are savvy about not only what goes into their preferred products, but they are becoming increasingly vigilant on how the companies they continue to support operate internally and within the communities in which they profit from.
“When a third of all detergents are wasted and with a supply chain built on single-use plastic and unnecessary chemicals, anyone can see that this is an industry crying out for innovation,” said Ernesto Schmitt, co-founder and Arch Crafter at The Craftory. “We were drawn not only to the mission-based approach of the Dropps team but also the ‘no bullshit’, simple approach they take to fixing a broken industry. The ‘find the stupid and remove it’ mantra speaks to our own goal of backing the companies that will transform the world for the better and we couldn’t be prouder to be welcoming them into The Craftory family,” continued Schmitt.
By shipping direct-to-consumer, Dropps avoids the bureaucracies (and waste/environmental impact) long associated with the traditional retail model, especially when it comes to the CPG household cleaning category. Traditional liquid laundry detergents have long been known as “the most expensive water to ship” thanks to the unnecessary additives in its formulas and bulky plastic packaging.
Co-founder and Chief Crafter at The Craftory, Elio Leoni Sceti, says: “Convenience is a wonderful thing, but irresponsible convenience that goes unchecked is doing untold harm to the world. Dropps is a model challenger brand making the right choices for the planet and its consumers. We have been impressed by Jonathan, a seasoned entrepreneur with more than 30 years of experience in the fabrics and detergents industry.”
68% of traditional liquid laundry detergent bottles are not recycled, which contributes to the over 606 billion pounds of single-use plastic waste that end up in our oceans annually . By providing consumers with an eco-responsible packaging solution from the start, Dropps has eliminated the potential of their product contributing to the plastic pollution crisis that plagues the traditional CPG industry. Dropps is a firm believer that the consumer can have it all: an effective and sustainable clean that remains affordable. With Dropps, sustainability and affordability are no longer mutually exclusive. Dropps also believes that sustainability is a journey, and that it’s not the sole responsibility of the end-user.
The brand is no stranger to category disruption and innovation. As the original single-dose laundry detergent pod introduced on the market (first released in 2005), Dropps has built a large customer-base over the years that amplifies the brand’s positioning as the most sustainable and convenient clean around. Even as a slew of other eco-friendly home lifestyle brands enter into the market, Dropps sees this as an opportunity to help shift the narrative away from consumer’s inherent choice of big household cleaning names, to ones that are better for their health and for the environment’s.
All current products can be purchased via www.Dropps.com, with the announcement of new product categories expected later this year. Dropps provides FREE carbon neutral shipping on all domestic orders, and does not offer expedited shipping due to environmental reasons.
ABOUT DROPPS:
Dropps is challenging industry norms with plant-based household cleaning products. Our solutions are both effective and better for people and the planet by costing less, eliminating single-use plastic, harmful chemicals and animal testing; all while providing the convenience of at-home delivery. Dropps was named EPA Safer Choice Partner of the Year for outstanding achievement in formulation and product manufacturing of both consumer and institutional/industrial products, and was ranked on the 2019 Inc. 5000 list of America’s fastest growing companies. Dropps is a brand of Cot'n Wash, Inc., the household cleaning products manufacturer founded in 1992. Cot'n Wash liquid laundry detergent was rated #1 by Consumer Reports in overall cleaning quality among hand-laundry detergents (May 1988). Dropps’ One Family, One Home, One Future initiative is committed to making prevention the cure by addressing the issue of plastic pollution at the source. Visit www.dropps.com/onefamilyonehomeonefuture to learn more.
ABOUT THE CRAFTORY:
Based in London and San Francisco, The Craftory is a $375 million global investment fund focused exclusively on amplifying the
world's boldest consumer brands in various sectors, including beauty, health, food, household and personal care. They offer permanent, early stage and growth capital to mission-driven consumer brands that positively impact the categories they serve, our society, and the planet. Visit www.thecraftory.io to learn more.
MEDIA CONTACTS: pr@dropps.com