The world's first mouldable glue, Sugru, is from today inviting the public to become shareholders with a crowd-funding campaign expected to raise £1m to support its global expansion.
The team behind the Hackney-based rubbery glue is working with the world's largest equity crowd-funding platform, Crowdcube, to offer UK residents the opportunity to invest as little as £10 to stake a claim in the company's future growth.
The capital will be used to build consumer awareness of Sugru - named DIY Product of the Year in the 2015 DIY Week Awards - and support its fast-moving retail expansion in the UK, Scandinavia and US.
An extensive roll-out of the unique product is already underway across 4,000 stores at major US retailers including Lowe's Home Improvement and Target. US consumers, who make up 50% of Sugru's customer base, have previously only been able to buy the product online.
Tapping into growing DIY markets around the world, the company says it expects to double its presence in retail by year end to 10,000 stores. The product already sells in over 160 countries worldwide.
Sugru inventor and CEO Jane ni Dhulchaointigh comments: "We've now got over 1m users around the world who regularly get in touch to share videos and pictures of their latest triumph, however small. These people have helped us perfect the product and build the brand so it makes complete sense to let them share in the future success of Sugru."
Sugru moulds like Play-Doh, sticks to almost anything and turns into a strong flexible rubber overnight. It can be used for all kinds of projects from DIY repairs at home through to small improvements to gadgets and appliances.
Having launched the brand online in 2010, the company has spent the last five years focusing its efforts on building the brand within the UK and securing permanent listings with key retailers including B&Q, Maplin, Robert Dyas and Homebase.
Ms ni Dhulchaointigh adds: "The success of Sugru to date isn't just down to the unique qualities of the product, but actually is in part linked to the incredible and highly addictive feeling people get when they independently fix or improve something simple around the house.
"Combined with the fact that people in almost every country will always need to fix and improve things, the global potential for Sugru is enormous."
Find more details on the crowd-funding campaign at
www.crowdcube.com/sugru