Fuel Ventures are delighted to lead a £1.4m seed round in starter kit brand noahThe £1.4m round was led by Fuel Ventures, the deal was closed in just eight days, with the investment going towards supporting noah’s growth three years after the initial launch.
What is noah?Founded in 2018, noah provides a collection of curated ‘Starter Kits’, packed with tried and tested, high quality tools, utensils and essentials, delivered directly to your door. This includes anything from kitchen boxes, to a homemovers box, baking kits and student essentials. noah provides all you need to take your first step of every new endeavour or stage in life, saving you time, hassle and money.
When devising which kits to deploy, the noah team puts each item through a rigorous testing programme with only the best making their way into the boxes. The noah team started with the Student Kit, which is packed with 70 essential items for those starting university for the first time. We all know how daunting these first life experiences can be.
noah is now selling nine different Starter Kits directly through its website to a growing customer base of 11,000 people. The founders believe that following a year that has undoubtedly changed the way we shop, consumers now place more importance on convenience than ever before.
The desire for D2C services keeps growing, 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%.
What does Noah look for future StarterKits?Having previously demonstrated the ability to adapt quickly, 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 3 days and has since been restocked 5 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.
Moritz Braatz, CEO and co-founder of noah said:
“For the past two years, noah has brought convenience, quality and reassurance 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”.
What will the funding be used for?The funding will be instrumental in growing the noah brand, building out an all-star team accelerating the launch of a new content-driven app - to further streamline the consumer journey - while also expanding the product range with many more exciting Starter Kits.
Check out their Instagram page here 👉 https://www.instagram.com/noahsbox/
If you are an entrepreneur looking for investment, please apply here or email your deck at firstname.lastname@example.org or reach out to me on LinkedIn.