Starter kit brand noah raises FOUR TIMES initial investment target in just eight days, turning down multiple investors in the process
Starter kit brand noah today announces a £1.4m seed-round raise. Led by Fuel Venture and supported by additional angel investors, the deal was closed in just eight days, with the capital going towards supporting noah’s growth two years after the initial launch.
With a mission to help customers navigate the first steps of any new endeavour, from moving house to taking up a new hobby such as baking, noah first introduced its starter kits to the market in 2019. A collection of curated boxes, packed with tried and tested, high-quality items, noah’s starter kits provide all of the essentials needed to embark on life’s ‘firsts’ and take all of the hassle away from the consumer.
Originating with the Student Kit, including 70 essential items for those entering dorm life for the first time, noah has since continued to expand its offering; now selling nine different Starter Kits directly through its website to a growing customer base of over 10,000. Its founders believe this is the start of a growing category of convenience-fuelled, value-driven curations, with the £1.4m raise following a year that has undoubtedly affected the way we shop and placed more importance on convenience than ever before. The desire for D2C services continues to grow and, as an established brand in this space, noah will be using the capital to further expand its product offering as well as growing its internal team by 400%.
Having previously demonstrated the ability to pivot fast, noah’s new launches will be certain to centre on current behavioural trends and customer demands. When searches for banana bread recipes peaked in April 2020, noah quickly introduced its first baking box, which sold out in three days and has since been restocked five times. Meanwhile, a buoyant housing market – which saw Right Move report UK house sales were at their highest ever level in August 2020 – inspired noah to further build on its offering of home-mover and kitchen boxes, which currently make up almost three quarters of the brand’s total sales.
Moritz Braatz, CEO and co-founder of noah said:
“For the past two years, noah has brought convenience, quality and confidence to thousands of customers, and we are thrilled to have been able to journey with them on some of life’s most important ‘firsts’. We are continuously looking at how we can grow as a brand, all the while making our customers’ lives that little bit easier, and this funding will be key in taking the business to the next level. We are looking forward to expanding all areas of the business and bringing new products to market, as consumers continue to embrace the convenience that D2C shopping brings”.
This funding will be instrumental in growing the noah brand, accelerating the launch of a content-driven app – to further build customer confidence and loyalty beyond the purchasing journey – and funding noah’s
Conscious Efforts programme with charities including YMCA and One Tree Planted, in addition to further building the team and product line.
Notes to Editor:
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Founded in 2018, noah provides a collection of perfectly curated ‘Starter Kits’, packed with tried and tested, high quality tools, utensils and essentials, delivered directly to your door. From kitchen boxes, to a homemovers box, baking kits and student essentials, noah provides all the essentials needed to take your first step of every new endeavour; all the while costing you less time and saving money at the same time.
Focusing on the essentials, the noah team samples and puts each item through a rigorous test program and only the best make their way into the boxes, so you can be confident in a quality product. Originating with the Student Kit, packed with 70 essential items for those entering dorm life for the first time, noah has since been expanding its kits to cover more ‘First Steps’ in life.
Noah is committed to its conscious efforts, ensuring it is giving back to the community and looking beyond the box to build a positive future. When you buy a noah kit, you too can feel a part of the noah mission, contributing to projects including the YMCA and One Box Planted.
Noah is here to turn your inspiration into reality, and be with you every step of the way. Everyone has to start somewhere.