Previously known as The Funky Iron Company, The Funky Appliance Company is branching out into small appliances next year with the help of new investors. The company – which launched with its Funky Iron in December 2018 – has launched a Series A funding round, signifying the first time the company ownership will be offered to institutional investors.
This investment will enable the company to widen its product range, with plans to introduce a Funky Kettle and a Funky Toaster at Ambiente 2020, and to roll the Funky brand out to other small appliances in the future.
With three successful crowdfunding campaigns on Europe’s leading equity crowdfunding platform Seedrs under its belt, The Funky Appliance Company now has 299 investors from 20 countries.
Founders Joe and Sadie Sillett felt the iron market was lacking a truly stylish electric steam iron. The Funky Iron has been a success story, with positive reviews from many journalists and high profile bloggers. It recently achieved the status of ‘Good Housekeeping Institute Approved 2019’.
Founder and CEO Joe Sillett commented, “This initiative to diversify and take our products international with a strong offering at Ambiente 2020, the largest consumer products show in the world, has been met with real interest and excitement from our existing investor base. They, like the Management Team and myself, can see a funky future and this Series A funding round will bring in the necessary capital to facilitate this. We have an excellent Management Team capable of delivering the plan and we’re incredibly excited about launching these products to market in 2020.”