Crowdcube • Nanoloom
Crowdfunding udziałowy
Nanoloom
Nanoloom engineers high-performing, non-toxic, recyclable graphene fibre from a patented polymer. Their first use case targets the $7.9bn stretch-fiber spandex market. Backed by an 80+ waitlist, Gymshark collab and an LOI for 100kg, they are raising now to deliver.
Key project data
Target amount
0,9 MEUR
Valuations
8,0 MEUR
Would AI invest?
50/100
1
100
Przegląd wygenerowany przez sztuczną inteligencję
AI project overview
Condensed summary based on project data
<p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Nanoloom Limited</strong> — Crowdfunding Investor Memo</span></span></p> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><em>Graphene-based stretch fibre positioned as a recyclable replacement for spandex/elastane.</em></span></span></p> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Sector: <strong>Advanced materials / performance textiles</strong> · Stage: <strong>Seed (pre-revenue)</strong> · HQ: <strong>London, UK</strong> · Raise: <strong>up to £900k (Crowdcub</strong></span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#faece7; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:160px"> <p style="text-align:center"><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">AI SCORE</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:464px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Why this score:</strong></span></span></p> </td> </tr> <tr> <td style="background-color:#faece7; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:160px"> <p style="text-align:center"> </p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:464px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Genuine, sizeable target market (spandex ≈ $7.9bn, corroborated) and a real, medically-derived graphene material — but the core patents are licensed, not owned.</span></span></li> </ul> </td> </tr> <tr> <td style="background-color:#faece7; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:160px"> <p style="text-align:center"><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="font-size:26.0pt"><span style="color:black">50 / 100</span></span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:464px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Co-founder Alexander Seifalian was dismissed from UCL in 2016 for dishonesty and named by a UCL inquiry over non-GMP materials in the Macchiarini trachea scandal — not disclosed in the deck. </span></span></li> </ul> </td> </tr> <tr> <td style="background-color:#faece7; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:160px"> <p style="text-align:center"><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="font-family:"Segoe UI Emoji",sans-serif"><span style="color:black">⚠️</span></span><span style="color:black"> Caution</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:464px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">IP is exclusively licensed from Nanoregmed, a 25.57% shareholder that also holds a change-of-control veto — existential risk sits with a related party. </span></span></li> </ul> </td> </tr> <tr> <td style="background-color:#faece7; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:160px"> <p style="text-align:center"> </p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:464px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Financially fragile: £3,967 revenue in FY2025 with losses widening to £216k, ongoing licence-fee debt, and an explicit need for further capital after this raise. </span></span></li> </ul> </td> </tr> <tr> <td style="background-color:#faece7; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:160px"> <p style="text-align:center"> </p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:464px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Headline traction is largely non-binding (LOIs, pilots, waitlist); the verified Gymshark link is a 2024 accelerator, not a supply contract. </span></span></li> </ul> </td> </tr> </tbody> </table> <p> </p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#e6f1fb; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:624px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">ℹ️ This is not investment advice.</span></strong><span style="color:black"> The purpose of this overview is to help potential investors preselect crowdfunding projects quickly without making a final investment decision. Before investing, the final selected project should be reviewed in detail based on the information provided by the company on the respective crowdfunding platform. AI can make mistakes, so you need to double-check data.</span></span></span></p> </td> </tr> </tbody> </table> <h1><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">🏢 Company description</span></span></h1> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Nanoloom Limited (incorporated 2019, London) makes a graphene-based stretch fibre it positions as a recyclable, non-toxic replacement for spandex/elastane, with claimed follow-on uses in automotive, aerospace and smart textiles. The company was co-founded by Victoria Mataczynski (majority shareholder, 59.67%) and Professor Alexander Seifalian, and its material derives from Hastalex/BioHastalex — a functionalised-graphene-oxide polymer originally developed for medical use by the related company Nanoregmed. The company reports 100kg of fibre pre-ordered (via a non-binding letter of intent), multiple LOIs, six pilots in discussion and an 80+ waitlist, and a 2024 accelerator relationship with Gymshark. Current production runs from a London pilot (5 extruders, stated capacity up to 500kg/month), with a planned industrial scale-up to 15 extruders in a Poland Special Economic Zone. Financially the company is pre-revenue in substance: turnover was £3,967 in FY2025 with a £216k loss, and it carries ongoing licence-fee debt to Nanoregmed. It is raising up to £900k on Crowdcube for EIS-eligible ordinary shares to deliver its stated pipeline; the company states it will need to raise further capital after this round.</span></span></p> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">🎯 Target return</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <thead> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:140px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Target return</span></strong></span></span></p> </td> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:127px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Time horizon</span></strong></span></span></p> </td> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:179px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Target basis</span></strong></span></span></p> </td> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:179px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">AI view on reaching this goal</span></strong></span></span></p> </td> </tr> </thead> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:140px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>🎯 ~10x</strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:127px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>⏱ 7–10 yrs</strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:179px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Default</strong> — the company did not state a target return or exit horizon for crowdfund investors, so the platform default applies. [dossier: Target basis]</span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:179px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Plausible only in a narrow success case: reaching ~£80m+ equity value would require the spandex-replacement pipeline to convert to real revenue and survive the IP/related-party risks — none yet proven.</span></span></p> </td> </tr> </tbody> </table> <p> </p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#fbf1dc; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:624px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">⚠️ Why aim for ~10x?</span></strong><span style="color:black"> Startup investing is high risk. Most early-stage companies fail or return little. A small number of winners must compensate for the losers, so each individual investment is typically targeted at roughly 10x over 5–7 years. A lower target across a portfolio of risky bets usually does not produce a positive overall return. This is why we apply a 10x / 5–7 year target when the company does not specify its own.</span></span></span></p> </td> </tr> </tbody> </table> <h1><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">📈 Path to target return</span></span></h1> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:173px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Sector heuristic</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:451px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">For a deep-tech / advanced-materials seed, a ~10x return commonly requires the company to reach a strategic exit (trade sale or IPO) at roughly 10x the entry equity value, after several further funding rounds that dilute early investors. [dossier: Target basis, DERIVED]</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:173px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Current key metric</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:451px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Audited turnover of £3,967 for the year to 30 Nov 2025; 100kg of fibre stated as pre-ordered via a non-binding LOI. [dossier: Financials; Traction]</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:173px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Required scale at exit</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:451px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">On the ~£8.0m implied pre-money, a 10x gross return implies an exit equity value of roughly £80m before further dilution — a scale that assumes the spandex-replacement pipeline converts to substantial recurring fibre sales. [dossier: Valuation; Target basis, DERIVED]</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:173px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Implied IRR</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:451px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">A 10x return over ~8 years implies roughly a 33% annualised IRR — achievable only in a strong success case and not underwritten by any company-provided projection. [dossier: Target basis, DERIVED]</span></span></p> </td> </tr> </tbody> </table> <h1><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">💶 Valuation</span></span></h1> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:173px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Pre-money valuation</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:451px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">~£8.0m (derived: 1,173,099 fully-diluted shares × £6.82). </span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:173px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Post-money valuation</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:451px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">~£8.9m at the full £900k raise, before any option-pool or Nanoregmed-consent effects. </span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:173px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Instrument</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:451px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Equity — Ordinary Shares (single class), EIS relief indicated. </span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:173px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">How the valuation was set</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:451px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Methodology not disclosed in provided materials — no revenue multiple, comparable set or DCF basis was given for the £6.82 share price. </span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:173px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">External benchmarks</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:451px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">No independent third-party valuation was located; PitchBook records ~$469k raised to date. The ~£8.0m pre-money is not supported by current revenue (£3,967) and rests on forward technology value. </span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:173px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Notable terms</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:451px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Investor fees: 2.49% on investment (min £5) plus a 5% success fee on any profit at sale. Nanoregmed consent is required for issuance that would dilute it below 24.99%. </span></span></p> </td> </tr> </tbody> </table> <h1><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">📜 Instrument & investor terms</span></span></h1> <h2><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">What you own</span></span></h2> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">You would own ordinary shares — the same single class the founders hold — but not directly: legal title is held by Crowdcube Nominees Limited, and you are a beneficial owner whose shares are pooled and voted through that nominee. Each ordinary share carries one vote, so in principle your economic and voting rights are proportional, with no separate preferred class ranking above you. In practice your voting power is negligible: individual crowdfund stakes fall far below the 30% threshold needed to appoint a director, and votes are pooled via the nominee. Exit decisions will effectively be made by the majority — the majority co-founder alone holds 59.67%, above the 51% needed to force a sale (see Exit mechanics). </span></span></p> <h2><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Dilution and future rounds</span></span></h2> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Dilution means your percentage of the company shrinks when new shares are issued. The company states it will need to raise further capital after this round, but gives no target size or timing for the next round. Crowdfund investors have no anti-dilution protection disclosed — so if new shares are issued, your stake falls; you do, however, have pre-emption rights, meaning you may participate in future rounds to defend your percentage if you have the cash to do so. </span></span></p> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Worked example (standard cap-table mechanics, not advice): if you invest £1,000 today at the ~£8.9m post-money valuation, you own approximately 0.011% of the company. If the company then raises £3.0m at a £9.0m pre-money valuation (a successful up-round), your stake is diluted to approximately 0.008%. If instead the next round is a down-round at £4.5m pre-money, your stake is diluted to approximately 0.007% and the implied value of your holding falls by roughly 40–50% versus the up-case, because a lower price means more shares issued for the same money. </span></span></p> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">On top of ordinary round dilution, the company says it may adopt a share-option (ESOP) scheme after this round; because that scheme is not yet decided, it is not priced into the £6.82 share price, and if adopted it would issue further shares and dilute existing holders — including this round's investors. Your pre-emption right is the main tool to defend your percentage, but it requires follow-on capital you may not wish to commit. </span></span></p> <h2><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Exit and liquidation mechanics</span></span></h2> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Liquidation preference is the order in which people get paid if the company is sold or wound down. Here there is no liquidation preference: on a sale, liquidation or return of capital, all shareholders share pro rata to the shares they hold, so crowdfund investors rank equally (pari passu) with founders after creditors and any preference-holders are paid. This is favourable relative to deals where earlier investors take a multiple off the top first — though in a low-value exit, ordinary shareholders still only receive what remains after debts. </span></span></p> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Drag-along means holders of at least 51% can compel everyone else to sell on the same terms; because the majority co-founder alone holds 59.67%, she can trigger a sale without crowdfund-investor consent — you would be carried along at the same price. Tag-along is the mirror right that protects you: if a controlling stake is sold, you may join the sale on the same terms, so you cannot be left behind at a worse price. </span></span></p> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">There is no general lock-up except an IPO lock-up of up to 180 days, and no secondary market is disclosed beyond transferring your beneficial interest to another Crowdcube member (legal title stays with the nominee). You should treat this investment as illiquid for a long period — typically 5–7 years or longer for early-stage equity — with cash out realistically only at a trade sale or IPO. </span></span></p> <h2><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Key risks specific to this instrument</span></span></h2> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The core patents are licensed, not owned, from Nanoregmed — a 25.57% shareholder — and any licence-fee payment default accelerates the full balance and can terminate all patent rights and force inventory destruction. </span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Nanoregmed holds a change-of-control veto (transfer of >50% of voting capital) and a consent right over dilution below 24.99%, so a related party can complicate or block the very acquisition/round through which you would exit. </span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">No anti-dilution protection for crowdfund investors — in a down-round, dilution falls on you in full, and an as-yet-unpriced option pool would dilute you further. </span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Drag-along at 51%, combined with the majority founder's 59.67% holding, means a sale can be forced without your consent. </span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">No secondary market and nominee-held title mean you are locked in until a strategic exit or IPO, with limited governance influence in the meantime. </span></span></li> </ul> <h2><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Items not disclosed</span></span></h2> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Absence of disclosure means you cannot assess these before investing:</span></span></p> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Anti-dilution provisions for any class of shareholder — not disclosed.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Founder-share vesting schedule and leaver provisions — not disclosed.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Size and timing of the next funding round the company says it will need — not disclosed.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The methodology behind the £6.82 share price — not disclosed.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">A defined secondary-market / liquidity mechanism beyond nominee-to-member transfer — not disclosed.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">A target return (IRR / MOIC) and exit horizon for crowdfund investors — not disclosed.</span></span></li> </ul> <h1><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">📊 Score breakdown</span></span></h1> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <thead> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:167px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Category</span></strong></span></span></p> </td> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:73px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Score</span></strong></span></span></p> </td> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:73px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Weight</span></strong></span></span></p> </td> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:311px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Verdict & key reason</span></strong></span></span></p> </td> </tr> </thead> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:167px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Technology & IP</strong></span></span></p> </td> <td style="background-color:#faece7; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:73px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><span style="color:black">58</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:73px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">22%</span></span></p> </td> <td style="background-color:#faece7; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:311px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Caution</span></strong><span style="color:black"> — Real, medically-validated material and granted UK/US patents, but the core IP is licensed not owned and textile-performance claims are unverified.</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:167px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Market & competition</strong></span></span></p> </td> <td style="background-color:#faeeda; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:73px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><span style="color:black">66</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:73px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">14%</span></span></p> </td> <td style="background-color:#faeeda; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:311px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Moderate</span></strong><span style="color:black"> — Large, corroborated spandex market, but entrenched, well-capitalised incumbents and long adoption cycles.</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:167px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Backing & validation</strong></span></span></p> </td> <td style="background-color:#faeeda; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:73px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><span style="color:black">64</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:73px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">8%</span></span></p> </td> <td style="background-color:#faeeda; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:311px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Moderate</span></strong><span style="color:black"> — Innovate UK, H&M GCA and CDL corroborated; several other award lines remain company claims.</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:167px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Traction & pipeline</strong></span></span></p> </td> <td style="background-color:#faece7; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:73px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><span style="color:black">46</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:73px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">15%</span></span></p> </td> <td style="background-color:#faece7; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:311px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Caution</span></strong><span style="color:black"> — Pipeline is largely non-binding LOIs against negligible audited revenue; Gymshark is an accelerator, not a contract.</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:167px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Manufacturing & scale-up</strong></span></span></p> </td> <td style="background-color:#faece7; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:73px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><span style="color:black">44</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:73px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">9%</span></span></p> </td> <td style="background-color:#faece7; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:311px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Caution</span></strong><span style="color:black"> — Pilot-to-industrial transition with company-stated capacity; only the Poland subsidiary is externally confirmed.</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:167px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Team & governance</strong></span></span></p> </td> <td style="background-color:#fcebeb; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:73px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><span style="color:black">38</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:73px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">20%</span></span></p> </td> <td style="background-color:#fcebeb; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:311px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Weak</span></strong><span style="color:black"> — Co-founder's undisclosed 2016 UCL dismissal and Macchiarini-inquiry findings, plus related-party board overlap.</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:167px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Financials & runway</strong></span></span></p> </td> <td style="background-color:#fcebeb; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:73px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><span style="color:black">34</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:73px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">12%</span></span></p> </td> <td style="background-color:#fcebeb; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:311px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">Weak</span></strong><span style="color:black"> — £3,967 revenue with widening £216k losses, licence-fee debt, and explicit need for further capital.</span></span></span></p> </td> </tr> </tbody> </table> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Why these weights? </strong>This is a deep-tech, hardware-heavy seed, so Technology & IP (22%) and Team & governance (20%) carry the most weight — for pre-revenue advanced materials, whether the technology works and whether the team can be trusted to execute matter most. A deeptech technology-risk emphasis was applied, taken pro-rata from market and business-model weights. Traction (15%) and Manufacturing (9%) reflect execution risk on a physical product; Financials (12%) reflects a fragile balance sheet; Market (14%) and Backing (8%) round out the picture. All seven categories were evaluable, so no N/A redistribution was needed and weights sum to exactly 100. LIMITED-data categories (Traction, Manufacturing) were capped at 70 and MODERATE categories at 85; none reached its cap.</span></span></p> <h1><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">🔍 Detailed review</span></span></h1> <h3><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Technology & IP</span></span></h3> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Nanoloom's material is a graphene-based fibre derived from Hastalex/BioHastalex, a functionalised-graphene-oxide polymer that public research confirms was developed and patented for medical use by Nanoregmed. The company reports fibre stretch of 900% versus ~700% for spandex, plus shape memory, breathability and biodegradability; these textile figures are not independently verified, and published data relate to the medical-grade base polymer. UK and US patents are granted, with European and other applications still pending. [dossier: Technology & IP]</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <thead> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">✅ Strengths</span></strong></span></span></p> </td> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">⚠️ Risks</span></strong></span></span></p> </td> </tr> </thead> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Material has a real, peer-reviewed medical pedigree (FGO+PCU nanocomposite). [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">UK and US patents granted; EPO and regional applications pending. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Slot-in fibre designed for existing textile supply-chain equipment. [dossier: deck]</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Core patents are licensed, not owned — from a related party — with termination and acceleration triggers. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Textile-performance claims (e.g. 900% stretch / 3N) are unverified; deck mixes fibre and sheet figures. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Cannot sub-license the base polymer and must keep partial in-house manufacture — a scaling dependency. [dossier]</span></span></li> </ul> </td> </tr> </tbody> </table> <h3><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Market & competition</span></span></h3> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The initial target is the spandex/elastane replacement market, which the deck sizes at ~$7.9bn — a figure corroborated by independent market reports, though analyst estimates range widely. The wider framings ($468bn synthetic fibres, $780bn apparel, $1.3tn textiles) are standard top-down numbers. The company itself flags entrenched, well-capitalised incumbents and long, testing-heavy sales cycles. [dossier: Market & competition]</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <thead> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">✅ Advantages</span></strong></span></span></p> </td> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">⚠️ Threats</span></strong></span></span></p> </td> </tr> </thead> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Large, independently corroborated core market (~$7.9bn spandex). [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Sustainability angle (recyclable, non-toxic) aligns with brand demand. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Multiple adjacent verticals (automotive, aerospace, smart textiles) as optionality. [dossier: deck]</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Incumbent chemical/fibre giants could undercut on price via scale or launch rival eco-fibres. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Changing entrenched, optimised supply chains is slow and resistance-prone. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Adjacent-vertical claims are aspirational, not yet commercial. [dossier]</span></span></li> </ul> </td> </tr> </tbody> </table> <h3><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Backing & validation</span></span></h3> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">External validation is one of the stronger parts of the file: Innovate UK grants, the H&M Foundation Global Change Award cohort and Creative Destruction Lab participation are corroborated by public sources, and PitchBook lists credible early backers including Spin Ventures. Several further award lines in the deck (e.g. Earthshot nominee, Forbes feature) are company claims not each independently verified. [dossier: Backing & validation]</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <thead> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">✅ Strengths</span></strong></span></span></p> </td> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">⚠️ Gaps</span></strong></span></span></p> </td> </tr> </thead> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Innovate UK match funding and multiple grants confirmed via UKRI. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">H&M Foundation GCA and Creative Destruction Lab corroborated. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Named angels and a Gymshark accelerator link add credibility. [dossier]</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Several award/press claims not individually verified. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Named angels not individually confirmed in the dossier's pass. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Validation is early-stage recognition, not commercial proof. [dossier]</span></span></li> </ul> </td> </tr> </tbody> </table> <h3><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Traction & pipeline</span></span></h3> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The company reports 100kg pre-ordered (via a non-binding LOI), multiple LOIs, six pilots in discussion and an 80+ waitlist. The Summary of Key Information itself stresses these are non-binding and may not convert to revenue, and audited turnover across FY2022–FY2025 never exceeded ~£4k. The Gymshark relationship is real but is a 2024 Innovation Lab accelerator continued to scope a use case — not a signed supply contract. [dossier: Traction & pipeline]</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <thead> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">✅ Strengths</span></strong></span></span></p> </td> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">⚠️ Risks</span></strong></span></span></p> </td> </tr> </thead> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Breadth of interest: 80+ waitlist, multiple LOIs, six pilots in discussion. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Verified brand engagement via the Gymshark accelerator. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">A 100kg pre-order LOI signals concrete near-term demand. [dossier]</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Pipeline is predominantly non-binding; conversion is unproven. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Audited revenue is negligible (£3,967 in FY2025). [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Listing language ('signed pre-orders') overstates the binding position. [dossier]</span></span></li> </ul> </td> </tr> </tbody> </table> <h3><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Manufacturing & scale-up</span></span></h3> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Production currently runs from a London pilot with 5 extruders and a stated capacity of up to 500kg/month, with a planned industrial scale-up to 15 extruders in a Poland Special Economic Zone. The Poland subsidiary's existence is externally confirmed; the capacity and expansion figures are company-stated. The company flags technical-failure, equipment-delay and quality-consistency risks in the pilot-to-industrial transition. [dossier: Manufacturing & scale-up]</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <thead> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">✅ Strengths</span></strong></span></span></p> </td> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">⚠️ Risks</span></strong></span></span></p> </td> </tr> </thead> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Operating pilot line with stated monthly capacity. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Concrete scale-up plan and confirmed Poland subsidiary. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Fibre designed to run on existing textile machinery. [dossier: deck]</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Scale-up capacity figures are unverified company claims. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Pilot-to-industrial transition carries technical and quality risk. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Base-polymer supply is a dependency that could bottleneck output. [dossier]</span></span></li> </ul> </td> </tr> </tbody> </table> <h3><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Team & governance</span></span></h3> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The majority co-founder, Victoria Mataczynski (59.67%), has Innovate UK Women in Innovation recognition and signed the offer materials. The co-founder and director Alexander Seifalian is presented in the deck purely as a distinguished UCL professor; public record shows he was dismissed from UCL in 2016 for dishonestly taking money from a student and was named by a 2017 UCL inquiry over non-GMP materials used in the Macchiarini trachea-transplant scandal. He is also a director of the licensor, Nanoregmed, creating a related-party overlap the offer document itself flags as a conflict of interest. [dossier: Team & governance; Red Flags]</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <thead> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">✅ Strengths</span></strong></span></span></p> </td> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">⚠️ Risks</span></strong></span></span></p> </td> </tr> </thead> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Majority founder has Innovate UK recognition and domain commitment. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Deep material-science expertise underpins the technology. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Named angels and advisors lend some credibility. [dossier]</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Co-founder's 2016 UCL dismissal for dishonesty and Macchiarini-inquiry findings — undisclosed in the deck. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Same co-founder controls the licensor on which all IP depends (related-party conflict). [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Some team biographical claims (e.g. prior '28% IRR' outcome) are unverified. [dossier]</span></span></li> </ul> </td> </tr> </tbody> </table> <h3><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Financials & runway</span></span></h3> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">This is the most strongly-evidenced category (audited figures) and among the weakest in substance. Turnover was £nil / £1,556 / £494 / £3,967 across FY2022–FY2025, with losses widening to £216k in FY2025. The company carries licence-fee debt to Nanoregmed (£82,975 historical plus 2026 fees), is repaying via monthly instalments through October 2026, and states plainly it will need to raise further capital after this round. [dossier: Financials & runway]</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <thead> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">✅ Strengths</span></strong></span></span></p> </td> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:312px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">⚠️ Risks</span></strong></span></span></p> </td> </tr> </thead> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Audited accounts provide a reliable, verifiable financial picture. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Grant/match funding has supplemented equity to date. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Company states it will have runway at the close of this raise. [dossier]</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:312px"> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Negligible revenue with losses widening year on year. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Ongoing licence-fee debt whose default can terminate the core IP licence. [dossier]</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Explicit need for further capital with no guarantee of securing it. [dossier]</span></span></li> </ul> </td> </tr> </tbody> </table> <h1><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">🚩 Red flags & integrity checks</span></span></h1> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:47px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">1</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:577px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Missing critical data</strong> — Valuation methodology, anti-dilution terms, founder vesting, next-round size/timing, and any target return/exit horizon are all undisclosed; the licence agreement and articles themselves were not provided beyond the SKI summary. [dossier: Data quality]</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:47px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">2</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:577px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Internal inconsistencies</strong> — The deck's Executive Summary implies 'signed pre-orders' while the SKI describes non-binding LOIs; the scale-up timeline reads '2026-early 2026' (an apparent typo). [dossier: Red Flags]</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:47px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">3</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:577px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>External discrepancies</strong> — The Crowdcube listing markets a 'Gymshark collab' and 'signed pre-orders'; public sources show the Gymshark link is a 2024 accelerator, and deck fibre-performance figures are not corroborated by the published (medical-grade) material data. [dossier: Red Flags]</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:47px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">4</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:577px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Negative public information</strong> — Co-founder Alexander Seifalian was dismissed from UCL in 2016 for dishonesty and named by a 2017 UCL inquiry over non-GMP materials in the Macchiarini trachea scandal — documented by UCL's own statement and multiple outlets, and not disclosed in the deck. [dossier: Red Flags]</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:47px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">5</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:577px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Prior fundraises</strong> — The company reports ~£400k raised previously with ~£454k Innovate UK match; PitchBook records ~$469k total and lists Spin Ventures, Gymshark Innovation Lab, University of Toronto Entrepreneurship, CDL and Innovate UK. No independent confirmation that prior milestones were met. [dossier: Project ID; Backing]</span></span></p> </td> </tr> <tr> <td style="background-color:#f4f2ec; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:47px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong><span style="color:black">6</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:577px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Valuation reasonableness</strong> — The ~£8.0m pre-money is set against £3,967 of revenue with no disclosed methodology and no independent third-party valuation; it therefore rests entirely on forward technology value and should be treated as unsupported by current fundamentals. [dossier: Valuation]</span></span></p> </td> </tr> </tbody> </table> <h1><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">📝 Data quality notes</span></span></h1> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Categories scored N/A: </strong>None — all seven categories had at least LIMITED data quality and were evaluable.</span></span></p> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Categories with LIMITED data quality (capped at 70): </strong>Traction & pipeline (mostly company-stated, non-binding) and Manufacturing & scale-up (company-stated capacity; only the Poland subsidiary externally confirmed). Valuation is also LIMITED and is reflected in the Valuation section rather than scored separately. [dossier: Data quality]</span></span></p> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><strong>Most material missing items that would change the evaluation if obtained:</strong></span></span></p> <ul> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">The actual Nanoregmed licence agreement and patent scope — this is the single largest determinant of whether Nanoloom controls its own future.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Independent verification (or refutation) of the textile-fibre performance figures the deck claims.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">A financial model / projections and a clear methodology for the £6.82 share price and next-round plan.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif">Binding-vs-non-binding breakdown of the pipeline (which LOIs, if any, carry purchase commitments).</span></span></li> </ul> <p> </p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:6.5in"> <tbody> <tr> <td style="background-color:#e6f1fb; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:624px"> <p><span style="font-size:10pt"><span style="font-family:"Times New Roman",serif"><em><span style="color:black">Memo generated by AI from public information and platform-disclosed company materials. Investors must perform their own due diligence. Past fundraising or operational performance does not guarantee future results. Crowdfunding investments are illiquid, high-risk, and capital loss is possible.</span></em></span></span></p> </td> </tr> </tbody> </table> <p> </p>
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Crowdcube GB
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GBP 10
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GBP 1357,04M
