With its equity crowdfunding campaign set to close on Crowdcube later today, VC backed and Kickstarter alum Kokoon has successfully secured more than £1.3 million from more than 850 investors. The UK-based sleep device company launched the initiative last month raised its £750,000 funding goal during the first week on the funding portal.
Kokoon is seeking to bring the world better sleeping habits with its relaxation headphones. The startup explained after three years of development working with premium acoustics brand Onkyo, it has created what it believes is the world’s first headphone and mobile app designed to aid sleep and relaxation. EEG sensors, an established approach to sleep measurement, will measure brain activity to understand how users respond to our audio and automatically adjust in response. It raised $1,936,825 on Kickstarter for the headphones in 2015.
“We’ve had encouraging early traction with over £2.8m in pre-order sales and over 16,000 units ordered. We have interest from major retailers, distribution agreements signed and are progressing partnerships with two airlines.The hardware development process is over and we’re ready to manufacture. We are raising growth capital to launch our headphones in the UK and abroad, as well as expand our team. Our existing institutional investors have committed to invest in us again, but we want to give those passionate about Kokoon the chance to invest and join our mission.”
“After an exciting few weeks, it is now the final day to invest in Kokoon! Yesterday, we saw our best day so far in the campaign, raising over £100,000, and bringing us over £1.2m in total. Thank you to all of you who invested, we really appreciate your support.”
Funds from the campaign will be used to continue Kokoon’s expansion.
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