Made in Mind, the UK company behind the innovative Mu Folding Charger, has once again proved to be an investment and commercial success, as the tech-funding community delivers a financial endorsement of their new designs and consumer demand continues to outstrip supply for their retail products.
Gearing up for significant growth, Made in Mind has surpassed its investment target of £100,000 from equity crowdfunding platform, Syndicate Room, but it is still accepting additional investment up to June 25th.
The company behind the Mu Folding Charger is in the final stages of developing an extended range of UK products and an international suite of products. Both are expected to be used in global partnership deals with some of the world’s largest manufacturers of smartphones, tablets and other electronic devices.
The news of the investment success comes on the back of a recent independent survey which showed that the patent protected Made in Mind designs can bring a substantial carbon reduction benefit to any consumer electronic company using them as their charging solution.
To be specific, the 70% reduction in the plug size provides an associated reduction of packaging and logistics which would enable the global smartphone market leader to reduce their annual carbon footprint by 6.5 million tonnes for the UK markets alone.
CEO Made in Mind Mathew Judkins noted,“This is great news for Made in Mind and also shows the enthusiasm that crowd funding can bring to driving innovation in the UK. The growth funding that our partners at SyndicateRoom has sourced for us will provide a platform to extend our intellectual property and award winning designs into global markets. Equally important it will enable us to conclude license deal negotiations with major mobile handset manufacturers.
CEO of SyndicateRoom, Gonçalo Vasconcelos added, “We’re delighted that Made in Mind have exceeded their funding target on SyndicateRoom. Their beautifully designed folding mobile charger has taken something we’ve been lumbered with since the 1940s – the clunky British three pin electrical plug – and revolutionised it to fit in with our new more mobile world.
“SyndicateRoom allows sophisticated investors to invest directly in promising businesses like Made In Mind, with the reassurance of knowing that these businesses have already received investment from business angels, who have put their own money on the line.
“The Mu plug clearly connects with consumers on a practical and aesthetic level; and a panel of successful angel inves tors is backing it not just for its award-winning design, but also as a highly profitable business. Now anyone with at least £1000 to invest can join them.”
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