In July 2015, Sugru, a mouldable glue product, invented by Kilkenny woman Jane ni Dhulchaointigh, raised more than £3.5 million in an equity crowdfunding campaign in the UK.
The Daily Telegraph highlighted this as one of the top 15 crowdfunding success stories in 2015. In fact, the campaign was so successful Sugru ended up with 338% of the amount it hoped to raise.
More than 2,300 investors from 68 countries (a record!) contributed to the £3.5m, with one investor contributing £1m in return for 12.4pc of the equity.
In 2012, Time Magazine named Sugru as one of the 50 best inventions in the world. Not bad for a Kilkenny girl!
Funds were raised on the CrowdCube crowdfunding platform in the UK and are being used to fund expansion in the USA and further afield.
I’m guessing it’s easier to use the product that pronounce the founder’s name!
Jane shares her tips for crowdfunding success in this useful article from Crowdfund Insider. She’s certainly a trailblazer for equity crowdfunding in Ireland.