Allday Goods, a UK-based maker of kitchen knives with handles crafted from recycled plastic waste like milk bottles and fishing nets, has raised £765,000 ($1M) in pre-seed funding led by FIGR Ventures. The company pairs these colorful handles with high-quality blades forged by a fourth-generation family smithy in Sakai, Japan. The capital will fund product releases and entry into new markets.
Sustainable Knives Ride Eco Wave
The round comes amid tightening UK plastic regulations, including a Plastic Packaging Tax hike to £217.85 per tonne in April 2024 per UK government. Allday Goods has already diverted 23,912kg of plastic from landfills per company site. Investors like FIGR, focused on circular economy consumer goods, see Allday as a 'Switcher' alternative to traditional knives.
Plastic Waste Pressures Kitchen Tools
Consumers increasingly seek sustainable kitchenware as plastic pollution mounts. The global kitchen knives market stood at $1.76B in 2022 and is projected to reach $4.12B by 2030 at 11.2% CAGR per Grand View Research. UK demand for premium home cooking tools grows alongside eco-materials trends per Fortune Business Insights. Traditional knives rely on virgin plastics or woods, contributing to waste cycles.
Recycled Handles Meet Japanese Blades
Allday Goods upcycles post-consumer plastics into vibrant, durable handles for Santoku, Petty, and bread knives. Blades use premium steels like Aogami 2 from Sakai for sharpness and longevity. Unlike bespoke artisans, Allday scales production while maintaining affordability for home cooks. Collaborations with Kerrygold and Ottolenghi embed brand stories in limited-edition designs.
Cult Brand Achieves Profitability
The company bootstrapped to profitability before funding, with its first 100-knife batch selling out in 76 seconds and Kickstarter exceeding 160% of goal per news coverage. B Corp certified and 1% for the Planet member, it appeals to eco-conscious chefs.
Niche VCs Back Circular Consumer
FIGR Ventures led with its focus on mission-driven brands like Citizens of Soil. Anotherway Ventures, backing sustainable DTC like Naked Paper (£10M+ run-rate), joined alongside Machroes Holdings and Tom Gozney of pizza oven brand Gozney. This investor mix signals conviction in design-led, profitable eco-kitchenware amid a tough consumer VC climate per Tech.eu.
As FIGR's Ellie Craig, Portfolio Director, noted:
“I’ve followed Allday for years… Now is the moment to take Allday from cult status to a kitchen staple.”
Artisan Rivals Stay Bootstrapped
Competitors like Clement Design craft custom knives from recycled nitrous oxide canisters, while Ocean Kitchen Scotland uses fish box plastics. Katto opts for sustainable woods. Allday differentiates with scaled, colorful upcycling and high-profile collabs, positioning for broader reach per market analysis.
The UK kitchen knives segment approximates $100M, fueling premiumization per Grand View Research.
Chef Founder Drives Shed Startup
Founder Hugo Worsley, an ex-London chef and EHL hospitality graduate, prototyped in his parents' garden shed using a toastie machine per Tech.eu. Selected among UK's top 30 young entrepreneurs by New Entrepreneurs Foundation, his kitchen experience informs 'everyday perfect knife' designs per LinkedIn. Team now at eight, with recent ops hires for scaling.
Scaling Collabs and New Markets
Funds target new product releases, including whetstones and merch, plus international expansion. Recent Kerrygold butter knife collab highlights circular design, with handles from recycled tubs per company posts. Beach cleanups supply fishing net plastics, enhancing transparency via QR codes.