We develop technically advanced & disruptive insulated tents for both the recreational and E&P markets.
- Tralee, Ireland
Categories: Travel, Leisure & Sport Mixed Digital/Non-Digital Mixed B2B/B2C
- Social Media
- Company number
- 553249 (Ireland)
- Incorporation date
- 26 Nov 2014
- Investment sought:
- Equity offered:
- Thermally, acoustically, light & blast insulated tents & shelters
- 13,000+ customers, 98 countries & growing - US primary market
- Outdoors industry spend worth $887 billion in the USA in 2017
- In 2017, we began developing shelters for the E&P industry
Thermo Tents Limited (trading as Crua Outdoors & Crua Industrial) designs and develops thermally, acoustically and light insulating tents and fabric structures. We incorporate cutting edge material technology into our unique designs. We have also developed what we know to be the first insulated and blast-resistant fabric structure for the Oil and Gas industry. We have found that traditional tent design hasn't changed much over the last number of decades. Crua's unique design is disrupting traditional tent buying.
Recreational tents are perceived to be uncomfortable - but they don't have to be. Your camping trip can offer a restful night’s sleep. That creates a much more enjoyable outdoors experience. Our 13,000 customers in 98 countries agree. Crua is on a mission to revolutionise the camping experience. Live Tough. Sleep Easy.
Crua has evolved from 'The Crowd'. Community is at the core of all that we do. Having completed eleven successful crowdfunding campaigns, we want to expand our community much further. We have progressed from product development through sales growth and market expansion. We have proven the demand, and now we're planning to scale rapidly.
We are creating what we believe is the world’s first thermally insulated tents, hammocks and fabric structures to allow people to remove boundaries for their camping adventures. We do this by creating comfortable tents for all seasons, for any terrain, and any type of camping user - from novice to advanced.
The below graph is based on share prices paid by investors in each previous fundraise for the duration of the time the company has been in existence. Therefore, the figures refer to the past and past performance is not an indicator of future results.
We have identified significant gaps in the design and development of safe and comfortable fabric buildings in the Oil & Gas industry. Hence we've developed Blast Proof Crua Haven - a disruptive blast resistant fabric shelter. And we've already sold these to Blue Chip E&P customers in the USA and Saudi Arabia.
Within industry, Crua's safe ‘Havens’ provide a space for workers to occupy while working in high-risk environments. We believe this safer environment increases productivity levels, efficiency and safety on site. There is also a reduced carbon footprint by removing the need to transport staff around large construction sites for their breaks. We developed these upon request from the industry.
Substantial accomplishments to date
✓ Trademarks now registered in the USA and the EU
✓ 13,000+ customers in 98 countries.
✓ Nearly trebling revenues in 2018 vs 2017.
✓ Now a member of the American Petroleum Institute committee which is responsible for Blast Tent design.
✓ 3 new product launches completed in 2019 with 3 more scheduled for 2020.
✓ Partnerships built, including:
- Klarna payments & Split It – to enable multi-stage payments.
- Several other outdoor brands such as Yeti Coolers – Aggregated marketing partners to create brilliant campaigns leveraging the customer base of others.
- Moosejaw/Walmart/Amazon/Cabela's/Bass Pro – Approved for listing on some of the best and most well known US retail sites.
- Distribution in the ANZ market now in place.
- First wholesale customers now in place.
✓ Crua industrial was born in March 2018.
✓ Several insulated & 'blast-resistant' shelters sold and delivered to 'Blue Chip' customers from Oil and Gas.
✓ Being considered for a $4.9m contract with Bechtel Corp, extended to 2020.
✓ Superb service ratings. 'Excellent' (4.8/5) rating on Trust Pilot.
✓ Now a Management team and board with significant and demonstrable track records in relevant disciplines assembled, including eCommerce, NPIs and finance.
✓ Developed bespoke Augmented Reality technology in-house, specifically for our eCommerce.
✓ Products tested and validated by the Federal Bureau of Investigation in the USA.
✓ Enterprise Ireland High Potential Start-Up.
✓ Voted among 100 Hot Start-Ups by Sunday Business Post.
✓ Eleven successful crowdfunding campaigns, including six successful product launches.
✓ Framework for Crua Rentals and Werifesteria - our inaugural outdoors event - now in place.
As we are a product based company, our profits primarily come from sales of Crua products, primarily across North America, The UK, Europe, and beyond. Our products are currently manufactured by third parties, although we have brought some prototyping in-house.
We attain a minimum of 50% gross margin across the business. We know that we need this to maintain a sustainable and growing business. As our sales become more omnichannel we will adjust pricing to ensure a minimum of 50% is achieved.
Recreational: We sell both B2C (online) and B2B (through strategically chosen retailers such as Cabela’s and Moosejaw).
Industrial: We sell B2B, either to end-user or facilities supplier.
Military: We plan to sell B2B through Aspetto Inc, a registered US Military supplier.
As sales volumes increase, we plan that margins will further increase by nearly 10%, once process efficiencies are achieved, however, quality and unique design must remain the main objective through the short-term. This is critical to our customer acquisition strategy.
Additional revenue streams will be introduced in 2020, through events and a 'try before you buy' rentals program.
Use of proceeds
• New Product Introductions – We’re going to accelerate the introduction of our revolutionary products. All our designs are validated in the early stages. We believe this leads to faster growth.
• We’re planning at least 3 new strategic hires for 2020. One is a previous investor who is taking over the Industrial wing of the business as that’s where his experience lies enabling us to exploit a potentially lucrative opportunity.
• We’ve identified 3 markets that we want to grow in 2020. Our sales, research and data insights have informed us where the interest lies.
• We aim to launch a rental platform to complement the sales on our main platform. We'll manage this internally and push through our existing marketing channels. This is part of our acquisition marketing phase, with the emphasis on 'try before you buy'.
• We’re launching our inaugural outdoors brand event in the Adirondacks. This will help bridge the eCommerce 'gap' and it allows us the opportunity to engage with our community in a ‘real’ way, crucial for brand building. After the initial event in 2020, we plan to roll more out yearly.
• We’re developing several strategic partnerships with other recreational and industrial brands. These are well known and credible companies and will help widen our audiences and capabilities significantly.
We regularly engage with our 1,429 Seedrs investors and our 13,000+ customers. They are our community. Our colleagues and friends. The heart and soul of what we do. And we’re sticking with them because they have gotten the company to where it is.
This is your chance to join our community and to benefit from being a part-owner in Crua. We’ve very big plans, and we’re just getting warmed up. Very, very exciting times lie ahead.