Natural personal care start-up AKT has beaten a £600k crowdfunding target to help the brand scale further.
The campaign on Seedrs values the London-based business at £5m, with 450 investors pledging £800k since the round went live on Monday.
Launched by Ed Currie and Andy Coxon in 2020, AKT produces natural, premium deodorants.
The pair designed the gender-neutral product while working as performers in London’s West End theatre district, setting out to create a deodorant that was effective during rehearsals and under stage lights.
AKT has since garnered a following from Hollywood actors such as Mark Strong and West End and Broadways performers such as Michael Ball and Samantha Barks.
To date, the business has generated revenues of £1.3m, selling 85,000 units and building a 5,000-strong active subscriber base.
More than 95% of the business comes from the DTC channel, with a growing wholesale arm to supply high-end gyms and hotels.
AKT plans to use the funds from the latest campaign to hire four new staff, including a head of growth and financial controller, expand the product offering in the fragrance and bath and body space, raise brand awareness through social media campaigns and launch a new 5ml plastic-free samples size to improve the offering to wholesale partners.
It is also planning a US launch next year, using the founder’s theatre connections to target Broadway.
No comments yet