Just one week after securing its initial £750,000 equity crowdfunding target on Crowdcube, Enertor announced it was extending its campaign and its global partnership with energy drink brand, Red Bull. The insole company revealed in an update on Friday:
“Enertor will be featured in the Red Bulletins Winter themed Sales Special (out mid Dec). This will be 6-8 pages for all things Winter Snow, will be seen in all 2.6 million issues globally to a 5.5 million readership. As part of the partnership, Enertor products will be provided to Red Bull’s amazing team of UK athletes who are expected to support the product through their own social channels. This provides amazing access to some of the world’s most exciting athletes. Enertor will also be featured in a full-page advertorial in the Red Bulletin Magazine which will be seen in all 320,000 UK freely distributed issues with a readership of 892,000. The magazine will be distributed with the Evening Standard, all major UK airport business lounges & gates, Eurostar, Euro Tunnel, London blue chip offices, major UK gyms franchises, UK snow domes, outdoor & winter retailers (single store & multi store), Evans Cycles and major UK universities.”
Enertor went on to note that it is planning to close its Crowdcube funding round on September 15th. The company noted that this decision was made based on new discussions with additional investors returning from holiday as well as enabling potential investors who have agreed to invest to obtain the necessary compliance approval from their respective institutions.
As previously reported, the company claimed insole uses pioneering technology to reduce shock and impact injury and is not only used by Usain Bolt, but also the entire British Army. The company is aiming to transform the global foot orthotics (insole) market, moving it from its current medical focus and more elderly demographic, to a health and lifestyle proposition with a younger, more active profile and create global appeal. The key target market is people between 25 and 55 who are active and want to stay pain and injury free. Andy Croxson, co-founder of Enertor, recently stated:
“In the last 12 months we’ve doubled revenue to £2 million and launched our products in almost 500 stores, while building the brand with the help of Usain and also developing a grass roots following among active people in our target market. The funds we’re raising on Crowdcube will be used to buy stock and for the marketing associated with retail launches. Raising on Crowdcube means the many people who believe in our products can buy a stake in the company and invest in our growth.”
Funds from the campaign will be used to buy stock and for the marketing associated with the retail launches.
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