SEED Innovations boosts investment in South West Brands – SEED Innovations (SEED) has invested a further £50,000 in South West Brands Limited, a London-based company that builds and commercialises the “wellness and beauty brands of the future”.
The investment is by way of a three year, 8% Convertible Loan Note as part of a funding round by SWB to raise up to a maximum of £1m of which £570,000 has been secured.
The company has also agreed to convert £50,000 of the 12 month, 8% CLN subscribed for in July 2021 into this three year, 8% CLN. The investment and the conversion takes the total amount invested by SEED in SWB to date to £500,000.
Ed McDermott, CEO of SEED, said: “We have seen some considerable progress made by the team at South West Brands over recent weeks with the launch of their two brands for sale in to Superdrug stores and online at ASOS. The products have received a fantastic reception by consumers in what is fast becoming a burgeoning FemTech sector where South West Brands are leading the charge.
“Generating early revenues, with the products now increasingly available, we anticipate seeing a fast uptick in wholesale sales which will further lead to additional product development and hopefully support for the products availability outside of the UK.”
SEED : SEED Innovations boosts investment in South West Brands