Pembroke VCT invests £1.75m into Dropless, the eco-friendly vehicle maintenance company

Pembroke VCT invests £1.75m into Dropless, the eco-friendly vehicle maintenance company

Tech-driven mobile service providing all vehicle needs in one place

Pembroke VCT, the venture capital trust focused on building the brands of tomorrow, has made an initial investment of £1.75 million into Dropless, the eco-friendly vehicle maintenance company revolutionising its sector.

Dropless was launched in 2018 by co-founders Christian Duncan and Mike Grindy, to bring digital and sustainable innovation, alongside exceptional customer service, to vehicle owners globally.

Dropless’ current main service uses electric mopeds and bicycles to reach its clients to provide a water-free vehicle cleaning service, saving up to 300 litres of water for every vehicle washed. Its innovative approach also means there is no run-off wastewater or toxic chemicals, helping to preserve the local environment and allowing vehicles to be washed without the need for foul drainage.

Launched initially in Southwest London, Dropless’ tech-enabled service now caters to both consumers and business fleets, including the likes of Amazon, Royal Mail and DPD. The company has subsequently expanded its reach to cover all of London, Surrey, Bath, Bristol and Manchester with plans for further growth in 2021. Dropless has also extended its service to include scratch and dent repairs and vehicle servicing.

Pembroke’s investment follows Dropless’ 400% growth over the course of 2020, despite challenges presented by the Covid-19 pandemic. Over the year, Dropless worked with the NHS to apply its technology to disinfect and sterilise vehicles used to transport patients, a service which it is now rolling out to all customers.

This initial investment from Pembroke will be used to further develop the Dropless app and its features, enabling users to quickly and simply book their chosen service. It will also support Dropless’ operational expansion including scaling both its marketing and technology teams as well as growth across the UK to meet the high demand for its services.

Andrew Wolfson, CEO of Pembroke commented; “Christian and Mike, the Dropless founders, are part of a growing trend of entrepreneurs to launch innovative tech-enabled businesses in sectors that have lacked modernisation. Dropless combines sustainability and convenience to provide a unique customer proposition.  Given the needs for sustainable solutions to our everyday needs, Dropless has excellent growth prospects. We are pleased to have invested at this exciting time and look forward to working alongside Christian and Mike to support them.’’

Christian Duncan, Co-Founder and CEO of Dropless added “Since launching Dropless in early 2018 we have been on an amazing journey and we’re now extremely excited to begin this next chapter with the support of Pembroke VCT. Since our first meeting in November 2020, the Pembroke team has fully supported our vision to reshape vehicle management and with their support we will be further advancing our technology stack, operational reach and marketing strategy.”

Mike Grindy, Co-Founder and CMO of Dropless added; “Vehicles themselves have evolved to the point where we are now seeing the widespread roll out of electric, connected and soon, autonomous vehicles. In contrast, vehicle support and care services haven’t changed in decades. Dropless is here to change that. We’re taking car care digital and sustainable, allowing our customers to take care of any need or issue with the tap of a button. To enable this we are working closely with vehicle manufacturers to integrate the Dropless app as part of the production process.”