Bringing the People the daily pick-me-up drink without the downsides.
Business overview
| Location | London, United Kingdom |
|---|---|
| Social media | |
| Website | ikodrinks.com/ |
| Sectors | Food & Beverage Non-Digital Mixed B2B/B2C |
| Company number | 12135241 |
| Incorporation date | 2 Aug 2019 |
Investment summary
Business highlights
- A full year of product testing including 10,000 samples
- Over 100 stores stocked already
- Early mover U.K brand in the growing global Maté market
- Advised by the former managing director of Red Bull
Idea
Introduction
IKÓ is The Maté Drink: a sparkling daily pick-me-up and immunity booster to replace coffee and energy drinks.
Our goal? To regenerate the people with one simple, powerful drink: IKÓ. And to regenerate the planet with one simple, powerful process: Regenerative Agriculture.
We make IKÓ with Mate (“ma-tay”), the South American brew with the kick of coffee, the health benefits of tea and the mood-lift of chocolate. IKÓ is sparkling and ready-to-drink. We believe it's the powerful alternative to coffee and energy drinks, without the downsides.
Mate is emerging across the world as an alternative and jitter-free way to wake up, concentrate and socialise. There are rapidly growing markets in the US and Europe, and we believe that wave is set to come to the UK.
So welcome to HQ for The Mate Movement. This is Equity for Waver Makers and Wave Riders.
The Mate wave is coming. How will you to join the ride?
Substantial accomplishments to date
Proving our Product & Brand
Since March 2021, we have searched for the answer to the big question: how to grow and own the Mate market in the UK in a way that is beyond sustainable?
Last year, we tested our brand and product in over 100 stores, handed out over 10,000 samples to the public, brought IKÓ to music events and pop-up stores. We positioned our brand and created new products in response to all that feedback. We are ready and set to grow and own the Mate Movement.
Building a supply chain that's beyond sustainable
At the core of our strategy is our plan to go beyond sustainability. How? By sourcing all our Mate from regenerative agriculture.
The cool thing about Mate? It grows naturally under the shade of trees in the subtropical rainforest. That makes it a perfect crop for agroforestry: growing a forest to harvest a crop. So, we source 100% of our Mate from agroforestry farms in Brazil, regenerating forests with our supply chain.
The journey so far...
2021
- Product Launch! – IKÓ Mate – Original Flavour
- We grow from 0-2000 followers on social media
- Over 100 stores stocked!
- IKÓ is best selling drink at a pop-up store in London
- IKÓ appears in the Guardian and The Telegraph
- We hit 10,000 samples handed out across London
2022
- We launch 2 new flavours: Agave & Lime, Passionfruit & Mint
- 30 new stockists in just over 2 weeks!
- Crowdfunding campaign launched
Monetisation strategy
IKÓ generates revenue through both online and retail channels.
IKÓ’s RRP per can ranges from £1.99 online to £2.25 in stores.
We are aiming to cut our unit costs from £0.55 to as little as £0.25 in 2 years.
Online
Our online revenue will come via our website and Amazon. Through our website, our goal is to build a funnel to convert one-time purchasing IKÓ customers to subscribing customers in order to generate monthly recurring revenue.
With an increase in marketing budget, we intend to drive the number of subscription customers. Over the next 5 years, we are targeting:
- 500 subscribers by the end of 2022
- 7,500 subscribers by the end of 2024
- 25,000 subscribers by the end of 2026
Retail
To date, we have supplied independent retailers directly. Now, we are targeting listings with wholesalers, allowing us to sell in bulk to larger distributors. We are targeting retailers and wholesalers & distributers across the following categories:
- organic & wholefoods;
- health & fitness;
- office caterers;
- gyms & yoga studios;
Use of proceeds
The capital we raise will help support the growth of our online subscribers, through online advertising, and retail sales through hiring a full-time sales executive.
Funds will be used as follows:
- £40,000 for the hire of a sales executive
- £90,000 for marketing including:
o Paid ads: 25% of monthly revenue
o Agency fees
o Wholesale & retail activations & promotions
- £20,000 working capital
Key Information
Tax Relief
The first £114,922 invested in the round is eligible for SEIS tax relief and will be offered on a first come first serve basis. Investments over £114,922 will be eligible for EIS.
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