TESLA FOR FURNITURE – Pentatonic secures £4300000 in first round of funding – A new frontier for furniture retail – Furniture Today
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Revolutionary homeware brand is looking to take on the £460bn global furniture industry
Pentatonic secures £4,300,000 in its first round of funding
The designer homeware and accessories business makes its entire collection from post-consumer waste; produces products that are completely recyclable, and is the first globally to offer a lifetime buy back guarantee Challenging the traditional and linear ‘throw-away’ purchasing model, Pentatonic is introducing an alternative and sustainable ‘circular’ business model within the sector Because Pentatonic’s products are fully recyclable and offer a buy-back guarantee, consumers become the customer and the supplier – that way the relationship becomes circular, the raw materials go back into the loop, re-cycled, re-crafted and re-sold. Nothing is wasted. The first furniture manufacturer of its kind to offer such a proposition. Disrupting the archaic manufacturing techniques associated with the furniture industry, Pentatonic’s opening collection is also the first to employ the world’s leading automotive manufacturing technology extensively , that is not only more environmentally friendly but offers an inherently scalable production process. Producing its collections in multiple locations across Europe including packaging, labelling and textiles in the UK – all made using the waste of Europe.
A pioneering new sustainable homeware and accessories brand that has netted £4,300,000 investment in its first round of funding is hoping to change the way we make and purchase furniture forever . The digital business, launching today, transforms waste such as plastic, metals, glass from multiple post-consumer channels such as ‘e-waste’ ( ie. smartphone screens, computers, mobiles, dvds ) into contemporary designer furniture and is founded by an exhilarating recipe of co-founders: Jamie Hall (36), formerly Global GM NikeLab at Nike and Head of Marketing at Levi’s UK , together with Johann Boedecker (30) – previously GM Corporate Business of materials technology giant Miniwiz .
The furniture industry’s environmental footprint has remained virtually unchanged since the 1970’s. Pentatonic’s obsession with progressive design, disruptive engineering, materials science, cutting-edge manufacturing techniques and a circular business model, sets itself up to be an agent of change in the retail industry. The two young entrepreneurs, Hall and Boedecker have a razor-sharp focus to take on the furniture industry heavyweights, with a steadfast ambition to make their digital furniture start-up, Pentatonic, a trusted and sought-after design-staple in the homes around the UK and Europe.
The first round of investment, sees a cash injection from Steven Chang,one of China’s foremost technology investors, Arthur Huang , structural engineer, architect and founder of circular materials technology company Miniwiz and Hartmut Gassner, consultant for sustainable development and founding partner of GGSC , a pioneering leading law firm in Berlin focusing on renewable energies and waste management.
Looking to disrupt a market dominated by big established players, Pentatonic, is reshaping the entire retail model associated with homeware production – from the way its manufactured, to the purchasing journey of a customer. It also using its sophisticated materials technology experience to challenge antiquated perceptions that sustainable furniture can’t be sought-after, affordable and accessible.
The investment will enable Pentatonic to scale up its sales and marketing activity across the UK and continental Europe, as well as bringing funds to further develop the brands existing product range.
Jamie Hall, Co-Founder/CMO, Pentatonic said, “We have built Pentatonic to create a brighter future for our customers and our planet and so we needed a contemporary model of consumer interaction and retail experience to support that mission. You will not find Pentatonic in out of town big-box retail parks. You’ll find us in your phone and your neighborhoods. Our investors bring both funds to advance our product range as well as a wealth of experience and expertise within technology, environment and financing sectors to help quickly propel us from a start-up to a prominent European consumer brand.”
Co-Founder/CEO, Johann Boedecker Pentatonic added, “Our non-negotiable commitment to the consumer is that we make our products using single materials. That means no toxic additives and no hybridized materials which are prohibitive of recyclability. As such, this represents a radical departure from the traditional design, manufacturing and consumer service models in the homeware and accessories industry. This enables us to simply recycle our products into new products at the end of life, and thus brings our consumer into our supply chain. This inclusivity and incentivizing will deliver an almost zero waste of our products post-use.”
Boedecker continued “Many current big market players rely on being purely digital for scalability. Pentatonic’s business model means we not only benefit from this, but we’re the first in the industry to use some of the world’s finest automotive manufacturing machinery within our manufacturing, which is not only more environmentally friendly but inherently very scalable.”
Steven Chang said: “We’ve been approached by at a lot of businesses in this space around the world, but really believe the team at Pentatonic have a fresh approach which will not only revitalize but bring about positive environmental change to the consumer market.”
Arthur Huang added, “Unlike established players in the furniture space, which tend to compete on price and distribution, Pentatonic is breaking the mold and offering the style conscious home buyer something completely new – products that marry environmental preservation, quality, modular design, as well as affordability.”
Hartmut Gassner said, “Their disruptive proposition of turning landfill into lifestyle, teamed with proven experience within some of the world’s most prestigious brands as well as the field of science and technology, Hall and Boedecker were an exhilarating recipe of co-founders that we couldn’t resist.”