(Gif courtesy of Dropps)
Logan Square-based home cleaning products company Dropps today announced a $10 million investment from U.K.-based fund The Craftory.
The direct-to-consumer brand aims to reduce waste in the home products space by eliminating plastic packaging, and in 2017, began shipping directly to customers, instead of stocking products in big-box stores.
Philly native Jonathan Propper founded the company in 2006, and its claim to fame is that it created the first laundry detergent pod (long before people started eating them for internet fame) in response to wanting to reduce single-use plastic packaging.
It’s since added dishwashing liquid to its product line, along with a handful of other household cleaning products. The laundry and dishwasher pods are made from plant-based ingredients and are shipped and stored in recyclable and compostable cardboard containers.
The company now includes a subscription service option along with direct-to-consumer shipping.
The business model and commitment to sustainability is what drew in cause-driven investment fund The Craftory, which offers early-stage and growth capital to consumer brands that positively impact the categories they serve, society and the planet.
Propper told Technical.ly that The Craftory sought out Dropps.
“They’re determined to amplify brands and products that offer regular people a better choice — better for society, better for our planet, which is Dropps,” Propper said. “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.”
“Convenience is a wonderful thing, but irresponsible convenience that goes unchecked is doing untold harm to the world,” The Craftory cofounder Elio Leoni Sceti said in a statement. “Dropps is a model challenger brand making the right choices for the planet and its consumers.”
Currently, Dropps has about 40 full- and part-time employees across its Philly HQ and in Chicago, New York and Austin.
The company said it will use the investment to continue to broaden its product offering, expand market reach and build its sustainability-focused infrastructure. The investment is also allowing for “a hiring spree for more local and remote talent,” a company spokesperson said.
It’s not yet clear how many positions will get added to the Philly office, Propper said.-30-
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