Lupe Technology, a UK-based consumer tech brand that’s created “game-changing” cordless vacuums, successfully secured its initial £650,000 funding target just days after publically launching its equity crowdfunding campaign on Seedrs.
As previously reported, Lupe describes itself as a consumer tech brand that’s looking to create a “cleaner world.” To do this, the company has created a new cordless vacuum cleaner, called Pure Cordless, that addresses the “wide frustration” with cordless devices that have become popular, which is poor performance and running time. Founders of the company, Lucas Horne and Pablo Montero, notably met while working for popular vacuum creator, Dyson.
“Based on our patented technology, the Pure Cordless has outstanding power and battery life compared to the competition. The Pure Cordless is the first of many products from our new brand that we see as becoming known for hygiene and longevity. Both of which, we now think more than ever, are at the front of consumers minds.”
Horne and Montero also spoke about the development of Lupe by stating:
“We learnt a great deal about what a vacuum cleaner needs to do and what makes it last. Following our time at Dyson, we went our separate ways but saw that the problem with cordless vacuums’ poor suction and built-in obsolescence went unaddressed. Lupe was founded, and through many hundreds of prototypes and testing, our team developed the patented Suction Intensifier technology to pick up dust more efficiently, and the unique Lupe Pure Cordless platform to carry it.”
Funds from the Seedrs round will be used for the following:
- Stock
- Marketing
- Overheads/Payroll
Lupe is currently offering 11.45% in equity at a £5,075,023 pre-money valuation through the campaign, which is set to close mid-May.
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