British performance eyewear brand SunGod is launching a crowdfunding campaign on Crowdcube. SunGod’s campaign – The 2022 Vision Raise – goes live on Tuesday, November 15th.
With a fundraising target of £1 million, the aim is to accelerate SunGod’s growth with international expansion.
Investors will have the opportunity to invest from as little as £25. The company adds that its latest raise is… ‘already heavily oversubscribed, with a staggering £25m of registered interest so far, so potential investors are encouraged to move fast to avoid missing out.’
SunGod was founded in 2013 by entrepreneurs Ali and Zoe Watkiss. In 2020, the company ran its first crowdfunding campaign, reportedly hitting its target in just 11 minutes and going on to close the raise with 1,004 investors and £1.5m in 24 hours.
Despite the pandemic, the performance eyewear brand reports that it has gone from strength to strength, increasing its share price and valuation by 166% in the last two years.
In that time, SunGod has tripled its annual revenue to £8 million, achieved B Corp and certified Carbon Neutral status, and increased its customer base to 210,000. Along the way it has signed elite athletes such as ultrarunners Tom Evans and Courtney Dauwalter, and Olympian triathlete Hayden Wilde.
For its the next phase of growth, the company has set out five clear objectives:
- Scale up presence in the UK, and expand into the US market
- Invest in product innovation to create the most high-performance and sustainable eyewear on the market, plus launch an option for prescription sunglasses
- Land bigger and (even) better partnerships to reach new audiences
- Continue to invest in sustainability and launch a new charity arm, the SunGod Foundation
- Open SunGod Basecamp London in 2024, following flagship store in Verbier
Founder and Co-CEO Zoe Watkiss said “We’re proud of what we’ve achieved since our last raise in 2020; but for us, this is just the beginning and the opportunity ahead of us now is vast.
“We’re excited to keep challenging and changing our industry, whilst inviting our community to join us on our mission to ‘See Better’.”
www.sungod.co/the-2022-vision-raise
