Corkbrick completes second round of crowdfunding

Portuguese sustainable dynamic structures and furniture startup Corkbrick Europe has announced that it has completed its latest investment round by raising €271,394 on investment platform Seedrs, attracting 252 investors - taking its total number of Seedrs investors to 500.

The target for Corkbrick’s second Seedrs funding round was set at €250,033 but following a surge of interest it raised a total of €271,394 bringing onboard 252 investors, taking its total number of retail investors across its two Seedrs rounds to 500. Funds raised will go towards increasing production 10 times to 4,000 pieces a day. Corkbrick is on its way to building the first "Fan Owned Company" to create "Sustainable Dynamic Structures and Furniture".

In a statement online, Corkbrick said: "It is thanks to our fans that we will be able to dream bigger and bring Corkbrick to every household in the world!"

Inspired by Lego and Nature, Corkbrick Europe has developed a modular construction system of blocks made of cork, which can create any type of structure or furniture without the use of tools, screws or glue. The business founded by a father and daughter team is on a mission to improve people's lives by simplifying the way people create and recreate the spaces they live and work in, with clever, natural and sustainable solutions. It offers a solution to a universal problem – configuration of houses, offices or any space without compromising other future uses.

Sustainability is at the heart of everything Corkbrick Europe does. The team are strong advocates for rethinking and reinventing how we deal with nature and the space we live in, as our current resource wasting practices are unsustainable. They believe there is a need to return to a philosophy creating long lasting objects, using natural materials, that can be reused by and have no harmful consequences to future generations. In this regard, Corkbrick has been created as sustainable dynamic solutions to create comfort and happiness whilst preserving and improving our habitat.

The company also recently announced that despite ongoing Brexit uncertainty it will open up a UK branch in 2020. Whilst the location is still to be decided, the objective of the branch will be to source and produce their materials and product locally and be closer to the UK market.

Founder and CEO Miguel Reynolds Brandão said: "We are delighted yet again by the support and interest we’ve experienced throughout both of our investment rounds, and believe it demonstrates the clear demand for a sustainable product that can bring smart solutions for smart living. We look forward to welcoming both new and old investors on our journey into our next exciting phase of growth.”

Corkbrick will close its Seedrs round at the end of May, for more information visit: www.seedrs.com/corkbrick

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