Member Article

Sugru hits £1m crowdfunding target in four days

The world’s first mouldable glue has proved a hit with the crowd; from 1314 investors, the London startup to reached its £1m funding targetin just four days last week.

The founder and inventor of Sugru, Jane ni Dhulchaointigh said: “This has been one of the most important milestones in Sugru’s history and by far one of the most enjoyable!

“Firstly it’s been incredibly humbling to see so many of our longstanding customers further support the business and then to get such a positive response from people hearing about Sugru for the first time is truly rewarding.

“The team can’t wait to share our future successes with our many new wise and wonderful investors.”

Manufactured in East London, Sugru is an adhesive that moulds like play dough, sticks to almost anything and turns into a strong flexible rubber within 24 hours.

Forbes described Sugru as “21st century Duct Tape” and this amazing British invention is fast becoming a ‘must-have’ in every household tool kit.

It has now sold 5 million packs in over 160 countries worldwide and more than 1 million customers use the glue for all kinds of projects from DIY repairs at home through to customising gadgets, appliances and even toys.

The capital will be used to support the company’s rapid expansion in the UK, Scandinavia and the USA. An extensive roll out of this unique adhesive is already underway across 4,000 stores at major US retailers including Lowe’s Home Improvement and Target with the number of outlets scheduled to reach 10,000 by December 2015.

Luke Lang, co-founder of Crowdcube adds: “Sugru is one of our fastest raises to date and it’s fantastic to see people eager to support the pitch and get involved. Last week our website saw new records in terms of website traffic and the number of investments.”

The pitch is now overfunding to tune of £1.19m and the public can still invest via Crowdcube; details about the pitch and how to invest are at www.crowdcube.com/sugru.

This was posted in Bdaily's Members' News section by Ellen Forster .