Sugru raised £3.4m on Crowdcube only last year.
Now they are looking to raise the same again in the USA. Backers in the US were keen to get on board last year but couldnt, according to the company.
There is little to view at the moment by way of their progress but the filed 2014 accounts are, as usual , somewhat different to the historic figures vetted and published by Crowdcube. And as usual they are different in the sense that the Crowdcube version was dressed up. Still that really comes as no surprise.
What is slightly surprising is the fact that Sugru would need more cash now. Their Crowdcube projections showed them raising only £2.3m in total via equity before the end of 2017. As they have already received £3.4m, you would think that would be enough? To hold A shares and therefore be able to mitigate any further dilution from the first Crowdcube raise, you needed to invest £20k or more. So we suspect that many of the 2375 investors are about to find their holding shrunk.
Of course the 'value' will increase as it always does, but then we all know this is just fantasy until it is realised.
It will be interesting to see how they cope with the more stringent due diligence in the US.
We do love this product and backed it to be the first major success via ECF,
Just hope we are not wrong.