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Heights

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Heights is here to help you do more of what you want, for longer in your life—by making braincare simple.

171%
 - 
Funded 25 Nov 2020
£1,000,005 target
£1,724,023 from 696 investors
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Business overview

Location London, United Kingdom
Social media
Website www.yourheights.com
Sectors Healthcare Mixed Digital/Non-Digital B2C
Company number 08403776
Incorporation date 14 Feb 2013
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Investment summary

Type Equity
Valuation (pre-money) £8.4M
Equity offered 17.03%
Tax relief

EIS

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Business highlights

  • Over 1300 active monthly subscribers
  • £49,000 in revenue so far this month*
  • 30,000+ newsletter subscribers
  • #1 Podcast in Mental Health, top 10 in Health on iTunes
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Key features

  • Secondary Market
  • Seedrs nominee min. £10.52 +
  • Direct investment min. £100,000.00 +

Idea

Introduction

Heights aims to build the leading braincare brand in the world. Our purpose is simple—to make people care as much about their brains as they do their skin, hair, nails, and other daily routines.

We create products that nourish, educate, inform, and expand your brain's capacity. After over a year in design and research, our launch product is the exceptionally high-quality 'Smart Supplement'.

Designed by leading neuroscientists and dieticians, it combines 20 of the key essential nutrients and fatty acids your brain needs—that 99% of people don’t get from their diet alone.

With sustainability at the core of everything we do, our plant-based capsules arrive by subscription in award-winning, fully recyclable packaging. The user experience is designed to help people build and maintain a healthy habit of daily consumption—which is why our churn rate is 2x better than the industry average.

As a brand, we're here to make you think.

Substantial accomplishments to date

- We started as a newsletter 2 years ago and have sent an email every Sunday since that shares what science says about how to take care of your brain, in under 3 minutes which has grown to over 30,000 readers +

- We've made £300,000+ of sales to date with £38,000 in October following a 20% increase in sales**

- Churn rate is 6% which is twice as good as the industry average

- Launched 'Working In' podcast - number 1 in Mental Health, Top 10 in Health, Top 100 in all UK

- 9,700 Instagram, 30,000+ views on Youtube.

- Hired 9 brilliant colleagues across 4 countries in the pandemic - figuring out how to run a remote company in the process!

- Won 'Best Packaging in Healthcare' by Dieline Awards

- 11,000 survey completions of our 'Brain Health Survey'

- Conducted clinical trial for measuring brain health

- Applied for and waiting for our pending B Corp certification (expected to be imminent)

*As at 26th November 2020 and based on unaudited management accounts
**Based on unaudited management accounts

Monetisation strategy

Build audience interested in braincare through creating impactful content across email, video, and social channels.

We currently sell one product the smart supplement on a subscription basis, which can be paid on a monthly, quarterly or annual basis.

In the future we intend to launch new high quality physical products, that we feel will make an impact for our community.

We also plan to build digital tools, that help our subscribers reach their Heights, and we may consider a digital only subscription if we see the demand.

Use of proceeds

20% Product/Technology Team

25% Research/Bringing new physical products to market

15% Content Creation

40% Growth/Marketing Costs

Investor rewards

Please note that any discounts and/or offer listed by a company in it campaign are subject to the terms and conditions applied by that company. It is the company's responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.

Key information

As you may have noted from the company's articles, the company has two classes of shares, A ordinary shares (which are only held by the founders) and ordinary shares (which are held by all other shareholders). The A ordinary shares have 7x voting rights attached to them but otherwise have the same rights as ordinary shares. This is because the majority of the founders' equity interests in the company are held in options which will convert into shares over time. The 7x voting rights are designed to put the founders' in the same position as they would be in if all founder options were exercised, and the aggregate voting right of the founders is capped at their percentage shareholding of the company post-raise, assuming exercise of all founder options.

We have also factored in all founder and employee options in the pre-money valuation and share price for this round.

This round forms an extension to funds raised this year. Funds received since June 2020 have been reflected in the total amount raised.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Seedrs does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Seedrs, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £8,352,779

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

There are 5 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Cohort
  • Secondary

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Seedrs nominee

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Seedrs nominee.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Seedrs Nominee). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

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None of the information in constitutes part of the campaign and it has not been approved or reviewed by Seedrs.

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