Award-winning plant based food for pooches with proven health benefits. Co-founded by a vet, VC-backed.
- £650K sales '22, £70K+ MR in Q4, 70% subscription sales*
- Recommended by 90% of veterinary professionals
- 34% of dog owners are looking to feed them plant based meals
- Peer reviewed study shows health benefits of the Omni diet
Omni’s award-winning proprietary plant-powered formulation gives dogs a nutritionally complete diet with proven health benefits. Plus, over half of dogs trialled showed preference for it over their usual meat-based meal so it tastes good, too!
Vet Dr Guy Sandelowsky co-founded Omni after his dog, Bondie got mouth cancer. Following 9 months developing a protein-led formula with Associate Veterinary Professor Dr. Mike Davies, Omni was trialled with 100 dog guardians feeding meat-based diets with 91% positive feedback, and launched in 2021.
Independent studies have found dogs fed plant-based diets live up to 18 months longer than those eating meat, as well as visiting the vet less & needing fewer medications.
As feeding a dog a typical meat diet creates the same carbon emissions as driving a Land Cruiser SUV all year round, switching to plant-based can have a hugely positive planetary impact, too.
We’re raising to scale D2C, launch new products, expand into retail & enter new markets.
Substantial accomplishments to date
In 2021, we soft launched in May, developing, with a subscription model and larger food packs live on our site from September.
Since then Omni has:
- Averaged 30% month on month growth*
- Retained over 50% of customers (post-trial) after 1 year. This is 2x higher than the average retention rate for pet products.
- Delivered over 500k meals
- Achieved gross revenue of £650k in 2022*
- Published a peer reviewed paper, which demonstrates the health benefits of Omni.
- Had Omni recommended by 9 out of 10 veterinary professionals.
- Launched on Amazon and approached by Walmart in the US to sell Omni
- Developed a range of plant-based dog snacks, which we plan to launch in Q1.
- Been featured in The Guardian, the Financial Times, Sky news, The BBC, The grocer, and the Evening Standard.
- Delivered strategic marketing and brand building through social channels, Google and a community of influencers.
- Won a World Finance Innovation award 2022.
We launched on a DTC model, through our eCommerce website, which allowed us to scale without additional outlay. We've nurtured our site and community of customers, and grown to an average monthly revenue of £70k in Q4 2022*.
We have an engaged base of 13k+ social followers and a mailing list of 11k, as well as a thriving customer loyalty rewards programme.
Over 70% of our sales are from subscription, which we'll continue to build on.
We're now stocked on Amazon to reach a wider audience, and are looking to further expand into retail this year as well as exploring leading pet retailers for our meals and soon-to-be-launched snack range.
*Based on unaudited management accounts.
Use of proceeds
Our focus will remain D2C, as this is already a proven success, and we want to continue our direct relationship with subscribers, increasing numbers and converting new customers.
Alongside this, we plan to use part of our funds to promote & develop our new product ranges and explore new markets:
- 61% Marketing - Targeted social, Google and influencer campaigns for D2C, as well as Amazon advertising spend and retail channels.
- 18% New product launch of our plant-based snack range.
- 10% Team hire to support our German expansion, with customer service support and digital marketer hires.
- 7% Channel expansion into retail
- 4% Internationalisation, initial set up costs for German market
The company has a number of outstanding Advanced Subscription Agreements (ASAs) totalling £665,000, which may convert to equity as part of or after this round and dilute existing shareholders:
All of the ASAs have the following key terms:
Longstop date: 18 months from the date of the agreement (meaning that the longstop dates will be reached between 28th April 2023 and 1st July 2023 depending on the date of the ASA)
Valuation Cap: £5,000,000
In addition, Atomico, Kale United and Foodhack (totalling £115,000 of investment) have the following terms for conversion:
Conversion trigger: (1) Financing Round (a new equity funding round of £500,000 or more), or (2) Sale or IPO
Conversion price: a discount of 20% of the Subscription Price (being the lowest price per share in the Financing Round) or the Exit Price (being the price per share pursuant to such Sale or the price per share issued pursuant to such IPO) as applicable
Share class: Ordinary shares
Conversion trigger: (3) Longstop Date or (4) Dissolution Event
Conversion price: a price per share based on a £5,000,000 valuation cap.
Share class: Ordinary shares
Purple Orange Ventures, Shio Equity, Trellis Road and ANDA4 (totalling £550,000 of investment) have the following terms for conversion:
Conversion trigger (1) Financing round (a new equity funding round of £500,000 or more) (2) Sale or IPO
Conversion price: the lower of (i) a discount of 20% of the Subscription Price (being the lowest price per share in the Financing Round) or the Exit Price (being the price per share pursuant to such Sale or the price per share issued pursuant to such IPO) or (ii) a price per share based on a post-money valuation of £5,000,000
Share class: Ordinary shares
Please note that any discounts, rewards and/or offers listed by a company in its 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.
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