MELKSHAM company, GripIt® Fixings’ second crowd fund has hit £2.14million, valuing it the most successful ever Dragons’ Den business.
In 2016 after appearing on BBC’s Dragons’ Den; Pitches to Riches – Where Are You Now show, GripIt® Fixings was valued at £10million. Now, just one year later the company is valued at £20million following completion of its second round of funding which raised £2.14m with more than 1,400 investors via Crowdcube.
Entrepreneur Jordan Daykin was just 18 when his pitch about a revolutionary design for a strong plasterboard fixing attracted the attention of Dragon Deborah Meaden, who agreed to invest in his business.
Today, the business now employs 35 staff and operates from five industrials units across the Wiltshire with its base at Commerce Way, Melksham. The company exports to 34 countries across the world and is currently adding 60 new products to the range, transforming the business from a one product company to a business with a portfolio of products.
CEO Jordan Daykin said, “It has been a very busy year taking the staffing count from 5 to 35 and with increasing revenues by 350%. It’s great that we are still growing at such a rate despite Brexit and the current economic climate. We pride ourselves in being a British company, constantly innovating and launching patent protected products to a market that hasn’t seen much change in years.
“GripIt® is now stocked in over 5,000 UK independent and well known stores such as Wickes, Screwfix, Curry’s, Maplin’s, B&Q, Homebase, Argos, Buildbase and Plumbase, CEF Electrical, Edmundson’s Electrical and many more.
“We are also exporting to 32 countries with RS Components. We are also stocked overseas in Builders Warehouse, South Africa and Bunnings stores across Australia and New Zealand, with stock on the seas for 2,000 Home Depot stores in the US.
“GripIt® are not stopping here and the company has much more to come your way!”