Tell us a little bit about Savortex.
In brief, Savortex is a British manufacturer of the world’s most eco-friendly and first smart hand-drying technology. We want to replace costly, unsustainable paper towels with smart hand-dryers that offer so much more than effectively dried hands. Outdated energy-hungry hand-dryers produce 9.2 million tons of CO2 annually, costing businesses £1.75 billion a year. So we designed a smart and sustainable hand-dryer range fit for 21st century commerce.
We serve sustainability focused corporates such as British Airways, Carillion, Rolls Royce, GSK, L’Oreal, Honda, Shell to name a few.
Our vision is to transform wasteful and costly commercial washrooms into sustainable and profitable smart spaces.
The BCB connected you with UAE crowdfunding platform Eureeca to raise capital. Talk us through the process from that introduction to closing your round.
The BCB were instrumental in Savortex raising funds to further develop our revolutionary technology and establish strategic partnerships with leading asset and facilities management companies to supply our products to the corporate washroom sector within the UAE. I am delighted to advise that both strategies were successful!
The BCB connected us to the Eureeca crowd-funding platform. The platform provides access to a network of high-net-worth individuals who understand and back innovation that has the ability to scale rapidly and internationally. We successfully raised over $560,000 and found the experience to be smooth and professional.
You raised over $ 500,000 on Eureeca. What has the investment allowed you to do?
The investment was used to further enhance our eco, advertising hand drying technology called the adDryer™, which dries hands in 11 seconds using very little energy and displays a full motion video message in response to a user drying hands. It’s a way of monetising air!
The technology is now being deployed to many sustainability-focused clients/projects within the UAE via strategic partnerships with leading local FM companies such as Serco and Contra Investments.
Why did you chose to raise capital in Dubai?
The Savortex board identified Dubai as a world-class city, with the 2020 Expo as an ideal opportunity to adopt our innovative, sustainable and on-site revenue generating technology.
What’s next for Savortex?
Savortex continues to go from strength to strength. With new staff on-board and having completed many successful trials with the adDryer we are now planning large scale deployments in the UK and UAE, and looking to scale the technology and business via strategic partnerships with leading asset and facilities management companies around the world.
How can I find out more about Savortex?
Please go to our website – www.savortex.com – or get in touch with the BCB who can tell you more and send you our way.
If you’re interested in learning more about funding through Eureeca, please follow this link: http://info.eureeca.com/bcbcrowdfunding