BikeBiz Bicycle and cycling retail news
Cycle accessory company Purple Harry is seeking to raise £75,000 through crowd funding site CrowdCube.
With 52 days left to run, the company already hit £13,630 having launched the funding push a week ago.
The brand told BikeBiz it will use the investment for marketing for the brand, product development for new product lines that it has in the pipeline.
In a statement on the crowd funding site, the brand said: "The company has been trading for three years and is now at a stage where a cash injection is required to take the business forward. To this point the directors have funded product development and the early stages of trading themselves and are now looking for external assistance as the company enters into a period of significant expansion.
"The company is seeking an investment of £75k to assist with growth of the business. The equity will be used to support early stage cash and stocking requirements, marketing, business infrastructure and R&D as the company has an exciting pipeline of new product ideas."
Probably best known for its inaugural product ‘Bike Floss’, Purple Harry has since grown a complementary range of products. Several new products in development that will be phased in from spring 2014.
