Dragon’s Den entrepreneur star launches £1.5m crowdfunding campaign
One of Dragon’s Den’s biggest success stories, GripIt Fixings, has launched a £1.5m crowdfunding campaign on Crowdcube to help fuel its international expansion.
The DIY firm, which manufactures universal plasterboard fixings, is headed by 20-year old entrepreneur Jordan Daykin who, along with his grandfather, patented the idea when he was just 14 years old.
Following a successful appearance on Dragon’s Den, which saw him seal an initial £80,000 of investment from Deborah Meaden and then a further £900,000 from the investor since then, the company’s products are now available in 33 countries.
Launching the crowdfunding effort on London-based Crowdcube, Jordan hopes to invest in industrial machinery to keep up with international demand, with the US and Australia seeing particularly large orders.
Jordan, who is Managing Director of GripIt Fixings, said: “This is a new round of financing to fund additional growth, following Deborah’s hugely successful backing in the Den, which has been paramount in our rapid development.
“We are extremely excited about bringing an even greater offering to the market and I’m delighted to be able to invite new investors, large and small, to join us on this journey to worldwide expansion.”
Investor and Dragon’s Den star Deborah Meaden added: “GripIt is a rare combination of a great solution-led product driven by a truly smart entrepreneur. I am not surprised by the success but the speed at which the market has adopted GripIt speaks volumes about the opportunity for further growth.”