ape2o, an Anti-Plastic Water Company, Receives Investment from Henley Business Angels Members
Investors in this round: Henley Business Angels members
ape2o, a company that is looking to eradicate bottled water waste by setting up a network of sophisticated vending machines for ‘on the go’ customers, has received investment from Henley Business Angels members as part of a total funding round of £500k.
UK consumers buy 8 billion plastic water bottles a year, with 80% of them ending up in landfills or oceans. They then leach micro-plastics and chemicals in the water that people go on to consume. With bottled water customers also paying approximately £2 per 500ml (more than twice the comparative cost of petrol), ape2o provides a solution with its vending machines, without the need for plastic bottles and at a fraction of the price.
Consumers pay just 25p to refill their water, which is treated with nano-filtration, ultra-violet light purification and comes with chilled or sparkling options. These vending machines are more hygienic than water fountains, as they prevent the water source from directly being touched. They are also easier to maintain and more convenient due to being in high footfall city centres and being accessible 24 hours a day. Rather than plastic, ape2o use steel to make their reusable bottles, providing an additional way for environmentally conscious consumers to protect the planet.
ape2o plans to use the invested funds to install 25 vending machines across central London, with further plans to expand to 200 sites within the Greater London region within two years. Eventually it hopes to spread its impact to tourist attractions, forecourts, transport hubs and other high footfall public locations across the UK. The investment will also be used to develop a tech platform to better track bottle inventory and build the network growth.
Anthony Newman, Founder and CEO of ape2o, spoke positively about the news, saying: “It has been a great pleasure to pitch to Henley Business Angels and be connected with angel investors that see the potential in backing a mission focused business like ape2o. We look forward to showing consumers across the UK that they now have a more affordable and sustainable alternative to getting pure water on the go, without the use of plastic bottles.”
Jurek Sikorski, Founder and Director of HBA, was also pleased with the news of the investment, commenting: “ape2o offers a simple idea with great appeal. We are delighted to participate in the company’s funding round and seeing more and more of the company as it rolls out its vending machines.”