The Business of Everdrop and New Funding
Everdrop is a Munich-based startup company that develops cleaning products that can eliminate bulky storage and plastic waste. The business has developed cleaning agents that are more sustainable and safer.
The startup company was founded in 2019 by Daniel Schmitt-Haverkamp, Christian Becker, and David Löwe, with the mission of creating household cleaning products that were more cost-effective, safer, and more sustainable.
According to the business website, all Everdrop cleaning supplies are delivered straight to a customer’s home in imperishable bags and containers, reducing overall plastic waste. Additionally, the startup company estimates it was able to eliminate over 2.5 million single-use plastic bottles from its dissolvable tablets.
With the mission of reducing waste and creating safer household cleaning products, the startup company developed a new dissolvable cleaning tablet which led to the recent investment in the business.
Everdrop completed a Series A funding round and raised €18 million ($21.8 million) with Felix Capital as the lead investor. With this new funding, the cleaning products startup company plans to widen its range of sustainable household products and continue marketing efforts across Europe, and eventually the US.
The German business competes with other cleaning supplies brands like Grove Collaborative, an American cleaning supplies business that also develops cleaning agents that use less harmful chemicals.
About the Industry
The household cleaning supplies industry is a massive market due to the fact that cleaning supplies are a necessity for most people. It can be challenging for startup companies to enter this market as names like P&G hold a large share. That said, the global household cleaning products market size is expected to reach $312.49 billion by 2027 — a CAGR of 4.97%.
For the most part, the most common material used in household cleaning supplies is plastic. As a result, when the items are discarded, the plastic containers, bags, and bottles contribute to the ongoing problem of plastic waste. The US Environmental Protection Agency, or EPA, states that plastic is municipal solid waste. The EPA goes on to say that the packaging and containers category of plastic had the most plastic tonnage in 2018 with over 14.5 million tons. That is just one small segment of the total plastic waste production by the US in 2018 — 35.7 million tons.
Due to the increasing amount of plastic waste, many businesses and organizations have turned to using reusable packaging to reduce their company impact on plastic waste. Everdrop is just one business that is seeking to make a difference in the cleaning industry through the use of more sustainable packaging.
About the Author
McKenzie Carpenter is a graduate of Central Michigan University with a B.A.A. in Integrative Public Relations and French. McKenzie has previously worked for small businesses and nonprofit organizations.