The company that invented the first carbon composite wheels for high performance vehicles, Dymag is offering shares in the company view equity crowdfunding platform SyndicateRoom. The small company is seeking a minimum raise of £500,000 representing 26.18% equity in the firm. As of today £186,000 has been secured from 5 investors. Lead investors include Envestors, a wholly owned subsidiary of Braveheart Investment Group.
Dymag is a company which provided the wheels that helped power F1 Champion Ayrton Senna to victory, and claims a global reputation for its carbon composite, aluminium and magnesium motorcycle wheels, is now set to re-enter the lucrative car wheel aftermarket and Original Equipment Manufacturer (OEM) market targeting luxury brands with a newly developed carbon composite car wheel. Both light and durable, the new composite wheel is said to dramatically enhance vehicle handling and performance while cutting fuel consumption and emissions. Dymag wants to take advantage of the rapidly emerging trend for ultra-lightweight wheels, especially to serve the growing market for hybrid/electric cars and motorcycles for OEM and the aftermarket.
The company went into receivership back in 2010 and was brought back to life by now CEO Chris Shelly.
“We have raised a significant proportion of new equity investment from cornerstone angel investors and we now want to offer exactly the same terms to our many customers and followers but at a much lower entry level starting at just £1,000. This will give our current customers, fans and “petrol heads” a chance to be part of what is a very exciting future”, said Shelly.
Dymag was started in the 1970s developing wheels for Formula One and GT Racing cars. Dymag explains that it was on these very motorcycle wheels that the legendary Eddie Lawson won the AMA Superbike Championship on a Kawasaki KZ1000-S1 in 1981 and 1982, and went on to win the 1984 World Motorcycle GP Championship on a Yamaha YZR500.
Smaller investors are being incentivized with an added perk of a discount on all Dymag car and motorcycle products. The offer is also EIS eligible.
“We are excited to welcome Dymag onto our platform, a British motorsport company renowned for delivering innovations and technological breakthroughs” said James Sore, SyndicateRoom Investment Director.
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