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Dropps Announces $10 Million Investment

UK-based The Craftory likes what it sees in this DTC laundry pods maker.

By: Happi Staff

Dropps Announces $10 Million Investment

The Craftory, London, has made a $10 million investment into Dropps, a Philadelphia, PA-based direct-to-consumer, household cleaning products company.
 
Dropps was one of the earliest players in the “pod” laundry category—rolling out its product detergent pod four years prior to the larger players in the space. In 2017, Dropps went exclusively direct-to-consumer. This autonomy, say company officials, has allowed the brand to thrive in providing eco-responsible cleaning products with reduced environmental impact, which saves money, time, water and plastic.
 
“The Craftory is an ideal partner for our business and I’m humbled by their investment” said ​Jonathan Propper​, founder and CEO of Dropps. “Their founders and operational team provides more than just money to their portfolio companies. In addition, The Craftory’s revolutionary investment philosophy aligns well with our mission-driven values so we can maintain our triple-bottom line of social, environmental and financial impact,” continued Propper. 
 
Known for its cause-driven investment tactics, The Craftory partners with CPG brands that positively impact the categories they serve, society as a whole and the planet. 
 
“When a third of all detergents are wasted and with a supply chain built on single-use plastic and unnecessary chemicals, anyone can see that this is an industry crying out for innovation,” said ​Ernesto Schmitt​, co-founder and “arch crafter​” at The Craftory.​ ​“We were drawn not only to the mission-based approach of the Dropps team but also  the ‘no bullshit’, simple approach they take to fixing a broken industry. The ‘find the stupid and remove it’ mantra speaks to our own goal of backing the companies that will transform the world for the better and we couldn’t be prouder to be welcoming them into The Craftory family.”

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