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Square Mile Farms

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Bringing vertical farming to urban spaces to boost wellbeing and sustainability

204%
 - 
Funded 15 Feb 2022
£315,000 target
£646,172 from 695 investors
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Business overview

Location London, United Kingdom
Social media
Website www.squaremilefarms.com
Sectors Property Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 11628016
Incorporation date 17 Oct 2018
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Investment summary

Type Equity
Valuation (pre-money) £4M
Equity offered 13.85%
Share price £1.47
Tax relief

EIS

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Business highlights

  • Farm installation volumes increased by 700% in 2021 vs 2020
  • Contracted service revenue increased 28% month on month*
  • Established network of 60+ farm units across 27 sites in London
  • Clients include Vodafone, Knight Frank, and Mindful Chef
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Key features

  • Secondary Market
  • Seedrs nominee min. £10.29 +
  • Idea
  • Key Information
  • Team
  • Updates
  • Investors 695
  • Discussion
  • Documents

Idea

Introduction

Our offering has struck a chord across a wide range of industries, and our volume of farm installations has accelerated by 700% in 2021 alone. This growth has been almost exclusively organic, including referrals and inbound enquiries – and has required very little marketing spend.

Our pipeline is strong for Q1 2022, with businesses looking for unique ways to encourage employees back to the office. We have 7 new sites pending installation and have submitted another 6 live proposals. We have identified an additional 20 potential opportunities throughout the year.

We have two proven sources of revenue – an initial installation charge followed by a compounding monthly services fee – both of which are accelerating with our growth.

*Based on unaudited management accounts.

Substantial accomplishments to date

Large blue-chip clients include Vodafone, Mindful Chef, Savills-IM, Knight Frank and Mace

Made key appointments to the executive team and grew employees from 4 to 10 in 2021

Increased the stickiness of current clients by expanding installations within their offices and additional buildings

Evolved our business from single unit sales to multi-site, multi-unit installations – delivering new revenue opportunities

6,500 edible plants growing across our facilities, including our nursery operation and our farm installations

Monetisation strategy

Farm installation - Either through a one-off purchase, or monthly rental charge.

Monthly management charge – An ongoing service fee secured with evergreen 12-36 month contracts, for the management of the farms and engaging the community.

We also intend to launch ‘enterprise’ deals which facilitate multi-farm, multi-site installations for large corporate clients. This will increase operational efficiency, drive additional revenue from established contracts and increase barriers to entry for competitors.

Use of proceeds

The funds raised from this round will allow us to substantially increase our sales and marketing outreach, evolve our product offering and improve our data capture and communication of the impact our farms are having on sustainability and wellbeing. We believe this will allow us to drive growth and enable us to protect our market share.

40 % will go to expanding our sales team and sales engagement capacity, as well as scaling up our marketing initiatives to boost awareness of Square Mile Farms and generate new opportunities.

50% will go to increasing the capacity of our nursery operations to further enhance the service delivery capacity for a larger customer base.

10% will go to further developing customer engagement tools and integrating the data we capture through our farm operations to deliver enhanced reporting and sustainability metrics for our clients.

Key Information

Debt

The company currently has a Bounce Back loan with a 2.5% interest rate, to be repaid over monthly instalments of £148.05 until May 2026.

Funds raised in this campaign will not be used to repay this loan.

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

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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 £4,005,256

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.