Dragon Den alum GripIt is now set to close its latest equity crowdfunding campaign on Crowdcube with nearly £1.2 million in funding from more than 730 investors. GripIt originally sought to raise £1 through the round, which is set to close on Monday.
As previously reported, GripIt claims itself to be the world’s “Ultimate Plasterboard Fixing.” The company’s products hold extreme loads of up to 330kg (last year it was 225kg) and are designed to be the only fixing on the market which can fit into any plasterboard application. GripIt notably claims its patented design offers a quick, easy and secure fixing solution to DIY’ers and tradesmen, allowing them to hang or fix anything to plasterboard without the need for further support.
GripIt also revealed it is stocked in over 6,500 stores across the world in household names such as Home Depot USA, ASDA, B&Q, Screwfix, and Wickes. The company then noted:
“We are back, two years since our last Crowdcube raise where we have since set up a fully automated manufacturing plant, developed a strong team, launched three additional products and added an additional 1,500 retailers.”
GripIt then added that the funds from the round will be used to assist working capital and its 2019 marketing plans.
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