Crowdcube has announced that Enertor, the innovative insole company endorsed and worn by Usain Bolt, is raising investment on the Crowdcube platform, with a target of £750,000.
The raise is now live, enabling Crowdcube’s membership of 410,000 investors to invest in Enertor’s plans for growth.
The Enertor insole uses pioneering technology to reduce shock and impact injury and is not only used by Usain Bolt, but also the entire British Army. Enertor, is aiming to transform the global foot orthotics (insole) market, moving it from its current medical focus and more elderly demographic, to a health and lifestyle proposition with a younger, more active profile and create global appeal. The key target market is people between 25 and 55 who are active and want to stay pain and injury free.
Leveraging its heritage providing years of orthotics and biomechanical scanning systems to elite athletes, the British Armed Forces and the NHS, the company is building a global brand and signed a 10-year deal with Usain Bolt in 2016 to become global brand ambassador. Enertor is backed by Provenance Investment Partners, set up by Simon Henderson (former partner at TPG Capital) and supported by Paul Walsh, Greg Dyke and John Lovering.
Andy Croxson, co-founder of Enertor, said: “In the last 12 months we’ve doubled revenue to £2 million and launched our products in almost 500 stores, while building the brand with the help of Usain and also developing a grass roots following among active people in our target market. The funds we’re raising on Crowdcube will be used to buy stock and for the marketing associated with retail launches. Raising on Crowdcube means the many people who believe in our products can buy a stake in the company and invest in our growth.”
Luke Lang, co-founder of Crowdcube said: “We’re thrilled that Enertor, an innovative company with great products and a potentially huge global market, is raising money on our platform. Raising money on Crowdcube is now a proven way for start-ups and fast-growth companies to support their expansion and development, while making investment in these companies possible for a wider range of investors than ever before.”