Just a few weeks into its Crowdcube campaign, the self-dubbed home of arts and crafts, Hochanda, has successfully surpassed its initial £1.9 million thanks to nearly 200 accredited investors.
As previously reported, Hochanda, which its name is an acronym for “Home of Crafts Hobbies and Arts,” is described as a new, live broadcast, content-rich, traditional broadcast TV home shopping channel. It debuted on last week to over 25 million UK Homes through Freeview, Sky, Freesat and its own IPTV portal.
The company explained:
“We plan to also penetrate near European markets with language-adapted content. The founders, who know the craft, hobby and art market intimately, have successfully launched and operated TV shopping channels in the past and are investing over £2m of their own money in the Company, alongside £500,000 from the owners of a key trade supplier. HOCHANDA aims to be the craft hobby and art retailer of choice through a combination of innovative, quality products offered at competitive prices with exceptional customer service and product presentation that is both engaging, informative and highly entertaining.”
Funds from the campaign will go towards the following:
- Working capital and operating expenses
- Accelerate growth into near European markets
During a recent interview, Paul Wright, founder of Hochanda, revealed details about Hochanda’s creation:
“We launched Hochanda with heavy investment and commitment from the partners and other investors but we wanted to ring-fence a proportion of the shares to be made available to the core target audience. Hochanda was created based on research of what crafters and hobbyists want from a TV channel and the opportunity to buy shares in the company was another way to allow viewers to get involved.”
Those looking to invest in the campaign have until the end of September.
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