Partner Article

Entrepreneur behind world’s first mouldable glue has closed another multi-million pound crowdfund

Forget about your no nails and gaffer tape, the firm behind the world’s first mouldable glue, Sugru, has closed another successful multi-million pound crowdfund over the weekend as it plots a new range of child-friendly glues.

The company, which was founded back in 2009 by inventor and Chief Executive Jane ni Dhulchaointigh, closed its £2m crowdfunding round on Crowdcube over the weekend with 2740 investors backing the firm and its expansion plans.

Since launching eight years ago, the company has sold over 10m single use packs of its core Sugru product, an innovative material that moulds like Play Doh, but sticks to almost any surface and transforms into a strong flexible rubber when left overnight.

Its product range has proven particularly popular with the maker community of technology and craft industries, as well as the crowded home DIY market both in the UK and in the France and South Africa markets where it launched following its last crowdfund in 2015.

Following this latest round, Jane commented: “We’re thrilled and excited to have so many new investors on board for the next phase of growth.

“The team has worked incredibly hard to make this a success, which is no mean feat considering the level of work currently going into our global retail expansion and launch plans for the new formulation. Exciting times ahead!”

Plans following this latest raise include the launch of its new child-friendly glue range which has grown from a new formulation developed by its in-house research and development team.

The business, which operates from a manufacturing space in Hackney, is also planning to launch in Canada, Australia and New Zealand this year, as it looks to grow by 50% year-on-year up to 2019.

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.