The Funky Appliance Company, based in West Sussex, is celebrating after raising 104% of its £200,000 crowdfunding target, in its seventh successful funding round on Europe’s leading equity crowdfunding platform Seedrs.
The new funds raised in this latest round will support a national advertising campaign including television for the first time and appointing a new operations manager.
The company’s unique and stylish product range continues to expand and following the signing of an exclusive 3-year global licensing deal with Europe’s leading SDA and Housewares distributor RKW which began at the beginning of 2022. The Funky brand is set to broaden out into housewares and cookware later this year.
The company, which was co-founded by husband-and-wife team Joe and Sadie Sillett in June 2016, has now raised over £1.2 million of investment to date from seven Seedrs crowdfunding rounds and has three core products: a Funky Toaster, a Funky Kettle and a Funky Iron.
On the success of the latest round, Joe Sillett, Co-Founder and CEO of The Funky Appliance Company, said: “We are delighted that our seventh campaign has been a success and that we were able to secure over 100% of the funding required to push the business to the next level in 2022. There aren’t many businesses in crowdfunding history who have successfully funded seven times consecutively. This shows the confidence investors have in our vision and the Management Team executing the plan.”
“2022 promises to be an exceptionally exciting year for us as we broaden out the reach of our retail distribution and take the Funky brand international.”
Funky products are now stocked at 81 retailers in the UK and Ireland, as well as several leading UK online retailers and are distributed by RKW in Stoke-on-Trent.
The Funky Toaster has received the coveted status of “Good Housekeeping Approved” and won the “Best New Product Small Domestic Appliances” at the ERT Awards 2021 in December. It is also Ideal Home Magazine’s “Best 4-Slice Toaster” and the Independent’s Indy Best “Best Toaster Tall Bread”.