HUUB, a UK-based premium endurance sports apparel brand, is set to close its equity crowdfunding campaign on Crowdcube with more than £1.16 million raised. The funding round was launched last month, originally seeking £250,000.
Founded in 2012, HUUB aims to create “better wetsuit products” that combines research, science, and reality. The company stated:
“Team Huub has 4 decades worth of experience gained in the field of endurance sports (yes, we’ve done the miles, but still have the passion!). Focussing wholly on the athlete and maximising performance and comfort, we’ll explore both the odd and the conventional to create the best. We are not slaves to fashion, but to form, fit and performance. We believe quite simply that we have delivered what competitors want. What’s more, we know our suits work, because the science says so.”
HUUB further revealed that Olympic Gold and Silver medallists, the Brownlee Brothers, have been brand partners since 2013. HUUB has also supported IRONMAN champions, British track cycling team HUUB Wattbike and has built enduring relationships with high profile individuals such as Professor Greg Whyte OBE and chef Gordon Ramsay.
“HUUB is a leading brand in the £60m UK triathlon apparel & accessories market. Growth into international markets and targeting the US$5 billion global bike apparel market is a next step.”
HUUB added that it is targeting all endurance sports through a combination of retail and distributor partnerships, as well as a rapidly expanding direct-to-consumer online business. The company is now offering 7.36% in equity at a £14,657,760 pre-money valuation through the funding round, which is set to close on Tuesday
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