Cycling technology company aiming to raise £500,000 through crowdfunding
An award-winning cycling technology company will today launch a crowdfunding campaign aimed at developing new products.
The owners of See.Sense are offering the opportunity to buy shares in the rapidly expanding firm in return for equity and special rewards available only to investors.
They raised £247,000 within hours of launching the crowdfunding scheme to pre-registered interested parties yesterday and have now extended it to anyone who would like to get involved.
The campaign opens on investment platform Crowdcube today.
Husband and wife Philip and Irene McAleese set up See.Sense three years ago after returning to Northern Ireland from Singapore.
Mr McAleese said: "We're really excited about the crowdfunding scheme. We have some hugely innovative new products in the pipeline, and we've some amazing opportunities opening up with cities who are interested in our crowd-sourced data.
"To give fuel to the fire, we're inviting our community - the people who use and love our products - to help us grow.
"We're hoping to raise £500,000 and we would like to use that to expand a number of products. A lot of our competitors have a whole catalogue of products and we only really have one and that is something we would like to develop.
"We would also like to expand our sales and marketing, looking at brand awareness and increasing our sales overseas."
Mr McAleese came up with the idea of a specialist bicycle light, ICON, while commuting to and from work when he worked for Barclays in Singapore. He consulted with cycling enthusiasts while developing the product, which relies on technology to react to high risk situations. It is sold in more than 50 countries.