Moldable glue company, Sugru, announced on Tuesday that due to continuous interest from various investors, it has decided to extend its latest equity crowdfunding round on Crowdcube by another two weeks. In the latest update, Sugru’s Jane Ni Dhulchaointigh, Roger Ashby, and Paraic Begley stated:
“Fundraising can be a time consuming process, but you’ll be glad to hear that it’s not interfered with the ambitious workload right across the Company. We thought you’d like to see just a little snapshot of some of the cool things we got up to last week.”
They went on to reveal that the marketing and creative teams are in the later stages of the new packaging designs for the family formula, which will be launched later this year and where some of the funds from the Crowdcube funding round will go towards. With the R&D team, they are working on the first scale up mixes in the company’s new mixing machine in the new factory. In sales, the team shared that they are getting some real traction in conversations with more sector retailers in the U.S. for the family formula launch. The trio went on to add:
“For those of you still considering your investment decision, do let us know on the forum if you have any questions, or feel free to get in touch with us directly. We’re very happy to welcome visitors here at Sugru HQ in East London as always.”
As previously reported, Sugru is currently seeking £1.5 million on Crowdcube as it prepares to expand and launch its family formula. The company currently has moldable glue products being sold and used in over 170 countries with patents granted in Europe, U.S., China, and India. Since its launch, the campaign has raised more than £1.35 million (90% of its funding target) from nearly 1800 investors. It is now set to close mid-May.
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