British activewear company 3Rd Rock has successfully topped its £300,000 funding target on Seedrs even with the COVID-19 induced hurdles. Of course, crowdfunding platforms are the perfect vehicle to raise growth capital as offerings are digital native and do not require in-person social interaction.
As for 3rd Rock, the company has so far raised money from 168 investors totaling £306,980. The company set a pre-money valuation of £1.36 million and thus ownership of 18.41% has been acquired. The offering is still open to investors if you are interested.
3rd Rock is a company producing environmentally aware activewear, with a focus on climbing, using natural and recycled material. The company has been recognized as the “world’s Most Ethical Climbing Brand” by ethicalconsumer.org.
The company reports wholesale accounts in 12 countries, and over 55,000 units sold. 3rd Rock has participated in the Goldman-Sachs accelerator program and says it is now ready to enter the next stage of growth.
Guy Mor, co-founder and CEO of 3rd Rock, said they are thrilled to have hit their target on Seedrs just as restrictions of movement were enacted in the UK:
“It’s without question that these are troubling and uncertain times and we’re delighted that in the face of adversity our customers have decided to join us as investors and share in our future success. It’s reassuring to see how many people believe in our business and vision.”
Richard Sims, an investor in the company who has previously supported brand names like Mint Velvet and BlueBella, commented on the offering:
“I decided to invest in 3rd Rock as it is a great opportunity to be involved in a new and rapidly developing sector, as well as the fact that the founders, Jessica and Guy, are very knowledgeable and passionate about the climbing sector, the customer and the products they need. With climbing an official Olympic sport and one of the fastest-growing sports in the world, this is a great opportunity for 3rd Rock at this important time in their story.”
3rd Rock notes that it currently employs 6 people and is based in rural Derbyshire and it continues to sell its products online. The funding will not only allow the business to ensure the job security of current employees but will also create roles in marketing and production as the business aims to launch new collections and product lines to meet the growing demand.
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