Staffordshire start-up Pantri is spearheading the development of smart kitchens by reaping the benefits of outsourcing its accountancy and business support services to Howards.
Setting up a start-up
When Tom Cooper founded the business in 2015 we advised him on company structure and set up cloud-based accountancy software and training. Ongoing, our firm takes care of a series of day-to-day administrative tasks. It means that Tom and the team can channel their energies into developing technology to enable next generation WiFi kitchen appliances to shop for consumables and food automatically. Imagine your fridge doing the shopping for you!
When your kitchen takes care of you
In the future, it doesn’t take too much imagination to see a world where the kitchen just keeps stock of the weekly essentials automatically. Using online retail it will keep itself stocked thereby enabling us all to spend more time doing the things we enjoy. Pantri is kick-starting this new world by turning data from new smart appliances into orders that its platform automatically forwards to existing retailers.
Business critical support
Howards provides business critical support. We help Tom and the team to administer what has quickly become a complex business from an accounting perspective, with international transactions and taxation. We ensure they take full advantage of the UK’s world leading seed investment and R&D tax schemes. We also manage Pantri’s continually evolving shareholder structures as the team bring in new venture capital.
Growth and investment challenges
Since inception Pantri has grown to become a small dedicated team of four. The company recently received investment from Techstars, an American business accelerator that offers start-ups support through a worldwide network of mentors and advisors. The programme accepts just 10 companies each year from thousands of applicants.
Pantri will soon be embedded in various kitchen appliance smartphone apps, powering their shopping functionality behind the scenes. This month the company is attending IFA in Berlin, the world’s leading trade show for consumer electronics and home appliances, after which its maiden product will launch in the UK followed by overseas expansion in 2020.
The UK is the world’s third largest online grocery retail market and thanks to advances in the IoT, the opportunities for Pantri are huge.
Tom is a creative young entrepreneur and for Pantri to achieve its potential he needs to give his full attention to what he does best. Our role is to take the strain when it comes to keeping the day-to-day business operation on track and to advise the best way forward.
Professional services you can rely on
Nick Archer and the team provide Pantri with a raft of professional services from tax planning and payroll to compliance, including statutory accounts and tax returns. Our in-house experts and specialists, including an R&D tax consultant, are also on hand to provide strategic advice as the business develops.
For advice and help in running your small business, talk to us at Howards on 01785 243276.