CASE STUDY
Investment and support to get world-changing hardware product from 0 to 1. How we helped Refilled get into market and expand.
Refilled needed capital to launch their product, the Refiller, and support to turbocharge its growth.
The company
Refilled is on a mission to change the way people drink beverages on the go and become the world’s most sustainable beverage brand through their smart drink dispenser.
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Refilled is on a mission to eliminate 100 million single-use plastics bottles by 2030. Their solution is empowering organisations and consumers to take climate action into their own hands.
The challenge
Refilled needed capital to fund the development of further prototypes for the flagship drinks dispenser product, the Refiller, and commercial and technical support to get the product from zero to one.
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Refilled needed funds as well as commercial and technical support to refine the prototype and create the initial batch of 5 next generation Refiller machines to take to market.
After securing interest from Google and several other global brands, Refilled needed to raise a seed round to fund the expansion of getting 100 machines in market.
The solution
Having witnessed the “best prototype The Melt had ever seen”, Melt Ventures put up an initial investment for the pre-seed in 2022 and The Melt team went to work assisting Refilled bring the dispenser to market.
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Melt Ventures went on to lead the seed round raise of $1.3m in late 2023.
Refilled’s Founder, Ryan Nelson has met with 50+ investors throughout the capital raise and Melt Ventures was the only investor that was genuine about helping great hardware products get to market early.
“Trent Bagnall, the Melt Ventures Managing Partner was along for the journey whereas other investors were just interested in profit” – Founder, Ryan Nelson
Trent also helped Refilled access debt funding to fund the manufacture of 100 machines as a smarter alternative to equity.
On the production side, The Melt’s team of technical specialists helped Refilled with the assessment of the design for manufacture that played a part in halving manufacturing costs. They assisted with the refinement of several production components using mechatronics equipment at The Melt Modern Manufacturing Centre, a purpose build prototyping facility.
Now, The Melt is supporting Refilled with referrals and introductions to prospective customers to enable Refilled’s mission.
The results
The Melt’s investment, technical and commercial expertise plus ongoing support to achieve Refilled’s mission, led to 5 machines being in market within 6 months and another 100 machines planned to be deployed within 12 months, and halving in manufacturing costs.
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Beyond the numbers, it’s been the mutual trust and ability for Ryan to pick up the phone and ask for advice that has made the real difference. Be it commercial advice, help to gently course correct or how to be smart with cash flow.
Learn more
Want to learn more about how The Melt and Melt Ventures can help you source investment, plan your approach to production and fuel your growth?
Get in touch with us to learn more and get started.