Usain Bolt endorsed insole start-up, Enertor raised £1m on Crowdcube

Usain Bolt-endorsed insole maker, Enertor, secured £1.03 million on Crowdcube, exceeded its funding target of £750,000.

Usain Bolt-endorsed insole maker, Enertor, secured £1.03 million on Crowdcube, exceeded its funding target of £750,000 by its close at the end of Friday.

Due to popular demand the round was extended by two weeks, attracting funds from 1,025 investors on the platform.

Enertor is a UK-based business selling performance insoles that claim to cushion the feet and reduce injury. Since 1998, the brand has been used by athletes and the British Army, and five years ago, Enertor invented a new shock-absorbing material, with molecules that lock together to absorb shock and returns back to its flexible state after.

This June, Enertor launched its product to the public exclusively through Superdrug, and with this funding, plans to expand into other markets.

“We are delighted to see another successful business on Crowdcube. Our platform provides a market-leading channel between high-growth, pioneering small businesses like Enertor and the funds of a diverse crowd of investors,” Crowdcube co-founder Luke Lang. “The degree of enthusiasm shown by investors towards Enertor meant that we were more than happy to extend the length of the raise after they reached their funding target.”

Praseeda Nair

Praseeda Nair

Praseeda was Editor for GrowthBusiness.co.uk from 2016 to 2018.

Related Topics

Crowdfunding
Deal News