UK start-ups are increasingly turning to equity crowdfunding through CrowdCube to establish or grow their business.
Ethical sportswear brand Sundried and healthtech start-up Cupris have become the latest successfully funded projects on CrowdCube, one of the UK’s leading equity crowdfunding platform.
The London based start-up produces “ethical active-wear products” and launched its first collection in June this year. It is supported by the Low Carbon Innovation Fund.
Through its campaign on CrowdCube, the business hoped to raise £125,000, offering 12.11% in equity, to expand its business and gain a greater share of the UK’s booming sportswear market.
The campaign ended last week, having raised £176,060, 141% of their targeted amount. 208 investors participating in the funding campaign. The largest single contribution of £40,000 amounts to more than a fifth of the full amount raised.
Also a London based start-up, Cupris has designed a “medical device attachment” which can help diagnose hearing loss and other ear conditions with the help of a smartphone.
With the application, the healthtech business hopes to gain a share in the fast growing international online medical consultation market, which is currently estimated to be worth $60 billion for developed countries.
In 2015 the company won the “Signs and Symptoms” Category at the AXA PPP HealthTech and You Awards.
Cupris also won the “Value and Improvement in Telehealth” Award at the HSJ Value in Healthcare Awards 2015.
It is partnered with the NHS and Innovate UK, the technology strategy board.
Their campaign on CrowdCube targeted £500,000, offering 17.58% in equity. It closed three days ago having raised £548,260 from 380 investors. The highest single contribution figure stood at £200,000.
Other UK start-ups are also performing well in driving their equity crowdfunding campaigns to success.
Graphene Composite is a NanoTech start-up hoping to create “one of the strongest, lightest, most resilient materials ever made”. It raised 149% of their target amount of £100,000 with 17 days to go in their crowdfunding campaign on CrowdCube. The funds will help the early stage business to develop their product further and patent the prototype.
RiskSave Technologies, a company building a new investment platform, only started their campaign last week but have since raised over 80% of their targeted £150,000, before the end of the first week. With another 23 days to go, the campaign has already raised 106% of their initial target from 89 investors.
Katharina Fleiner 30/08/2016