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Fishy Filaments

Platform:
Crowdcube
Stage:
Seed
Industry:
Manufacturing
Location:
UK - South West
Date Rated:
07/09/17
Raise:
£140,000
Equity:
24.56%
Valuation (Pre Money):
£430,033
Industry: Manufacturing
Location: UK - South West
Platform: Crowdcube
£140,000 Seed
Valuation: £570,033
Date Rated: 05/09/17

MANAGEMENT

PRODUCT

INVESTMENT
Tax Status: SEIS & EIS

Business Summary

Fishy Filaments is a company aiming to recycle used fishing nets into commercially viable plastic products that have the potential for a multitude of uses, starting with 3D printer stock. Fishy Filaments has developed its own proprietary process and is ready for its first production run. This round of investment will be used to fund capital equipment and hire first staff.

Financial Overview

 

 

 

There is insufficient information available to provide a financial overview

 

 

46%
SKILLS:
EXPERIENCE:
COMMITMENT:
The company is extremely dependent on the Founder who is covering most of the key roles required by the business currently. Further personnel will be needed to scale the business.
The Founder has neither start-up nor management experience but he knows the industry well and has experienced advisors to support him.
The Founder has invested a limited amount of cash in the business but he has spent significant time in developing the concept and proving the process.
57%
MARKET:
PRODUCT:
COMPETITION:
The 3D printing market is worth about £7bn to date and is expected to grow to £12.5bn by 2018 but the company's addressable market will be constrained by the smaller niche of marine plastics.
Although the company is already in discussions with several potential customers, a production plant has still to be set up to provide commercial capacity.
The company has three patent pending applications covering future product development and it could have a cost advantage if the material costs can be kept so low.
There is insufficient information available to fairly rate this aspect of the business


Conclusion

Fishy Filaments is still extremely dependent on the Founder, which is a key risk, and further key hires will need to be made to support further product development, marketing and sales to take full advantage of this opportunity.

Despite the low cost of materials, competition in recycled plastics is rising and it will be important to grow sufficiently quickly to achieve some economies of scale.

Given the company's current stage, delays from several reasons, including sole Founder risk, could easily slow down the projected growth.

Note: We have not received a business plan from Fishy Filaments and therefore this rating is based on the information available within the Crowdcube pitch.

Related Links

Crowdcube Pitch

fishyfilaments.com

 

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