LB Equity Leads Series A Funding Round For Defunkify
NEW YORK, New York March 1, 2021 — Defunkify, a high-performance natural cleaning product brand of Dune Sciences, Inc. closed their Series A financing round led by Lucas Brand Equity, a growth equity firm based in New York City.
Defunkify touts its products as “the highest performing and safest detergents ever made.” They crush odor, smell amazing, and are ProvenSafe™. After successfully completing a “proof of concept” launch in over 1,000 retail stores, Defunkify is now looking to expand both its product offerings and e-commerce presence. In 2019, 95 percent of all cleaning product sales were retail based. That figure has changed since the pandemic, with customers increasingly purchasing laundry detergent online. Both Defunkify and LBE predict this trend will continue past the pandemic as consumers experience the benefits of purchasing such products through e-commerce channels.
"There's no doubt about it, with this round, we're going to get a lot of funk out of America,” Defunkify Founder and CEO Richard Geiger says playfully, “But seriously, our proprietary formulas that we're putting into our laundry detergents and sprays remove more odor and grime than anything else on the market. And with this investment, we can massively scale our direct-to-consumer channel, alongside our major partnerships we've built with Sprouts Farmers Market, Whole Foods, and REI, as well as several additional regional grocery chains."
Recognizing the lack of solutions for an eco-friendly laundry detergent that outperforms the category leaders, Defunkify created its patented ProvenSafe™ Technology. Defunkify products remove odor 5 times better and eliminate stains nearly twice the results of leading synthetically derived detergents, and at the same time, Defunkify products are proven to be both safer for people and the planet than existing eco-friendly options. This powerful combination of higher performance and safer chemistry has earned Defunkify the coveted 2020 EPA Safer Choice Partner of the Year Award.
LBE invests in the wellness, personal care and beauty sectors with a focus on founders and mission-driven brands that offer solutions to some of the major problems that face consumers and the industry today.
“People are looking for an effective alternative to the highly questionable ingredients in leading laundry care products on the market because of the potential harm it has to their health and their family’s health. However, a lot of the leading ‘green options’ on the market simply are not effective.” Ian Knowles, Director at LBE explains, “We had been looking at this category for a while and knew there was an opportunity for a brand to disrupt the status quo. We learned about Defunkify and as we spent time getting to know Richard and the company, it was clear to us that we had found the solution without compromise. Defunkify’s fun and engaging brand positioning, it’s effective formulas and its commitment to safety for humans and the environment were all very appealing to us.”
Other companies contributing to the Series A funding round include Safer Made, a venture capital fund investing in products and technologies that are safer for human health and the natural world, 32 Ventures, and Ad Ventures, the investment arm of ad agency Harmon Brothers (content creators for Lume, Purple Mattress, Poo-Pourri and Squatty Potty).
Defunkify is a performance driven, eco-friendly fabric care company founded in 2017 by Richard Geiger and John Miller, PhDs with a combined 50 years of industry experience. Backed by patented IP developed by Richard and his team, they created the most effective odor and stain removal fabric care formula with the lowest eco-toxicity of any brand in the market. Defunkify has branded their breakthrough IP as ProvenSafe™ Technology and have inserted it into each of their products. Defunkify removes odors 5 times better and stains up to twice that of synthetically derived leading traditional brands, while boasting a more environmentally friendly profile than the leading Natural brands.
To learn more about the Defunkify contact Richard Geiger at email@example.com
About Lucas Brand Equity (LBE)
LBE is a growth equity firm that invests in high-growth beauty and wellness brands with purpose. Backed by a team of seasoned executives, LBE advises portfolio brands across the key value creation disciplines of distribution, marketing, branding, and product innovation.
To learn more about LBE contact Erin Knowles at firstname.lastname@example.org
About 32 Ventures
32 Ventures is the direct investing arm of 32 Advisors, the family office of Robert Wolf. The company has over 30 investments across numerous sectors including health & wellness, cannabis, media & entertainment and technology with a growing focus on socially responsible investing.
About Ad Ventures
Ad Ventures is a venture-stage investment firm focused on providing the capital necessary for the creation of the world’s next major brand. Ad Ventures invests in early Harmon Brother’s campaigns and benefits from the Harmon Brother’s industry leading track record of national and global brand creation. To learn more about Ad Ventures contact Rob McMillen, Manager Director, email@example.com
About Safer Made
Safer Made is a venture capital fund investing in companies and technologies that eliminate the use of hazardous chemicals and lead on safety and sustainability. For more information, please visit http://www.safermade.net.