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Ruby Violet

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We create spectacular handcrafted lip-smacking ice creams, vegan sorbets and iced delights

179%
 - 
Funded 14 Mar 2021
£200,007 target
£358,212 from 295 investors
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Business overview

Location London, United Kingdom
Social media
Website www.rubyviolet.co.uk
Sectors Food & Beverage Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 07577860
Incorporation date 24 Mar 2011
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Investment summary

Type Equity
Valuation (pre-money) £1.8M
Equity offered 16.59%
Tax relief

EIS

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Business highlights

  • Unique ice cream creations and flavours
  • Featured in The Times, The Guardian, Vogue and on the BBC
  • Strong and growing retail and corporate client base
  • Global ice cream market is worth an estimated £44bn
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Key features

  • Secondary Market
  • Seedrs nominee min. £12.99 +
  • Pay by Bank payments not accepted
  • Idea
  • Key Information
  • Investor Perks
  • Team
  • Updates
  • Investors 295
  • Discussion
  • Documents

Idea

Introduction

Fancy a sumptuous Blackcurrant & Chandon Sorbet, Seville Orange Marmalade Ripple, or perhaps a Stilton & White Port Ice Cream? Ruby Violet can deliver.

Due to ever increasing demand, we've grown from a market stall in 2011, to two parlours and an accompanying vintage van and tricycle and trolley, almost doubling our revenue from 2016 - 2019*. Our creations are loved so much that we've even published a recipe book for our fans.

But we can't keep up with demand!

We're operating at full capacity in our kitchen, unable to meet the range and size of orders. By upgrading our equipment and workspace we'll be able to meet existing and future demand, and keep innovating. We'll also be able to start deliveries nationwide and through wholesale partnerships.

The ice cream industry is worth £1.4bn in the UK, and £44bn worldwide, growing at an estimated 4.5% growth per annum.

Join us as we shake up the world of ice cream!

Substantial accomplishments to date

· We've been consistently written about in national publications, including The Times, Telegraph, The Guardian, Time Out, Evening Standard, Vogue, Red magazine, Waitrose Magazine, Conde Nast Traveller, and we've also appeared on the BBC.

· Turnover increased 85% between 2016-2019.

· Since launching our Kings Cross parlour, sales in that location alone increased 135%.

· Our online sales surged 612% this calendar year vs last year as our loyal customers continued to purchase our products despite our parlours being shut for large portions of the year.

· 90% of our packaging is either recyclable or compostable, for the remaining 10% it's a work in progress.

· As well as our tubs of ice cream and sorbets, we create spectacular ice cream cakes, ice cream sandwiches and bombes.

· We boast an impressive corporate obtained organically and either directly or through our connections with agency partners

*based on unaudited management accounts.

Monetisation strategy

Retail (B2C)

With the successful soft launch of our own direct-to-consumer platform, delivering in London, we plan to grow this distribution channel significantly, putting the infrastructure in place to expand delivery nationwide, and then internationally.

Wholesale (B2B)

With the increase in output and efficiency from our new kitchen and machinery we’ll expand distribution into the wholesale channel, focussing on supermarkets and travel companies. We’ve had to turn down business opportunities due to our capacity constraints, so we’re excited to continue sales development in this area, with a new hire leading our business development efforts in this space.

Corporate (B2B)

We’ve worked with many companies developing bespoke flavours and see this as an important sales channel going forward. We’ve collaborated with Gin Mare, creating gin ice cream & sorbet specific to their infused botanicals and have developed bespoke flavours companies including Moet & Chandon and McVities.

Use of proceeds

CapEx ~75% - We are moving into a new premises which will be kitted out with the most up to date and efficient ice cream equipment on the market . New machinery will allow us to produce up to 15x the amount of ice cream we currently produce, more than half the freeze time, increase potting from 50 pots per hour to 400 pots per hour, all while continuing to experiment with flavours and designs.

Marketing ~ 15% - To date we have invested very little in marketing. Our growth has come about almost entirely from word of mouth and features in publications. As we seek to increase sales, we will begin to implement a marketing budget to help us grow even further.

Key Hire ~10% - We intend on hiring a full-time head of sales & marketing to start, and in Y2 appoint other key hires across operations and sales

Key Information

Outstanding debt

The company has the following outstanding loans:

1. A Bounce Back loan of £50,000, interest-free for 12 months, and 2.5% thereafter. This is to be repaid over 60 monthly installments starting in May 2021.

2. A director loan of £200,000. This has 0% interest and is due to be repaid on either (i) an exit (ii) by Q1 2024 (iii) on a date decided at the board’s discretion based on the financial position of the company.

3. An overdraft facility of £25,000 with £5,000 currently drawdown

4. Shareholder loans totaling £10,000. These have 0% interest and are to be repaid by 2025.

None of the funds raised will be used to repay these loans"

Investor Perks

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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

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Investing carries risks, including loss of capital and illiquidity. Please read our Risk Warning before investing.

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 £1,800,622

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

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 shareholding type is available and the minimum investment required to select it.

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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.