The brainchild of 20-year-old Jordan Daykin, GripIt Fixings – Dragon’s Den’s biggest success story – is aiming to raise £1.5m to fund its global expansion in the DIY market.
Dragon, Deborah Meaden initially invested £80,000 in August last year, and has since invested a further £900,000 to fund growth of the universal fixings company.
Daykin has taken the initiative to raise £1.5m for industrial machinery to keep up with international demand through crowdfunding platform, Crowdcube.
Daykin came up with the idea in 2008, while installing curtain rails with his grandfather, it took just a matter of days to come up with the concept which can be used with all types of plasterboard installation and holds up to 225kg for everything from curtains to radiators. Patent was granted when Daykin was just 14.
The business has grown considerably and in the first two months of 2016 has already exceeded its 2015 annual turnover, putting it on track for £2.5m turnover this year. It employs 20 members of staff with plans to employ a further 10 this year.
Dragon’s Den investor Deborah Meaden said: “I am not surprised by the success but the speed at which the market has adopted GripIt speaks volumes about the opportunity for further growth.”
Managing director, Jordan Daykin said: “we are extremely excited about bringing an ever greater offering to the market and I’m delighted to be able to invite new investors, large and small, to join us on this journey to worldwide expansion.”
The product is now sold in over 3,000 stores in the UK including B&Q, Wickes, Screwfix and Currys.