Parkwalk sold part of its stake in Xeros in late 2014 and early 2015. This exit returned, in cash, more than the cost of investors’ subscriptions into the Parkwalk Tech Fund I, with other investments in the fund still potentially able to offer future returns. Parkwalk still holds a substantial position in Xeros through later funding rounds.
The first real innovation in laundry in over 60 years, Xeros’ mission is to convert the traditional world of aqueous washing to Xeros polymer bead cleaning. Fresh water is a precious resource and conventional laundry has always needed a lot of it. For the first time, Xeros polymer beads replace the majority of that water. Their unique triple cleaning action actually creates a superior cleaning medium.
A dramatic reduction in water is only one of the benefits. Xeros bead cleaning also means major savings in heating power, detergent and effluent production – yet still superior cleaning results. That’s a major boost for the environment and equally importantly, Xeros reduces laundry costs.
Xeros came 2nd in the top 100 “2010 Best Inventions” by TIME magazine and was cited in the WWF’s survey of global “Green Game-Changers”.
In March 2013, Xeros completed a further £10m fundraising, and in March 2014 Xeros listed on AIM, raising a further £30m with a market capitalisation of £80m.