Plumen, creator of the world’s first premium low energy light bulb, on June 2 launched its first ever equity raise on Crowdcube, the world’s most successful investment crowdfunding platform. The raise will give customers, fans, the public and investors alike the opportunity to own a piece of the business as it gears up for pole position in the efficient and smart lighting sector at this pivotal point for the industry.
Plumen’s fanbase had already funded 50% of the company’s target, before it opened to the wider public. Its goal is to reach £500K, which will facilitate the launch and distribution of exciting new products, and the creation of a new designer smart lighting category. This second generation of smart, ‘responsive’ lighting will change how people experience light, creating beautiful, truly intelligent bulbs that can improve their wellbeing while being good to the planet.
Conceived in 2007 and first launched to global acclaim in 2010, Plumen is renowned for reinventing energy-saving lighting, using design and beauty to inspire adoption of sustainable lighting technology. Now found in an estimated 130,000+ homes worldwide and celebrated for its iconic design in the permanent collections of MoMA, the Design Museum and the V&A to name but three, the brand is scaling up:
– diversifying its range to include a volume product line of affordable filament LEDs at one end, and the innovative, beautiful and luxurious 003 set to launch in September at the other end of the Plumen range;
– challenging the smart lighting category by bringing Plumen’s unique approach in design to the smartest lighting tech available on the market today, courtesy of a new partnership with world leaders, Stack Lighting
The money raised will bring these products to market by 2017 and continue to support Plumen’s rapid expansion in the US.
“Plumen products are nothing without the love and creativity of our customers who transform them from ingredients into the amazing, inspiring installations that they’ve been sharing on social media since we launched in 2010. So it’s a completely natural step for us to offer those who appreciate what we’re doing the chance to be part of our story and share in our success.” Nicolas Roope, Creative Director, Plumen
The campaign will take place on Crowdcube, the crowdfunding platform where businesses such as Sugru, Go Henry and Escape the City have raised money. Investments can start from as little as £10. To get involved, anyone can simply register on Crowdcube’s platform (with no obligation to invest), find out more and then choose how much they would like to invest.
UK investors are eligible for EIS relief, meaning that a large portion of their investment can be deducted from their income tax bill – find out more on gov.uk.
PLUMEN – IN FIGURES/ KEY FACTS
Launched in 2010, Plumen continues to develop compelling sustainable products that inspire and excite people.
With warehousing in 3 continents, Plumen has shipped over 500,000 products to 75 countries.
The Plumen 001 won Brit Insurance Design of The Year 2011, and a D&AD Black Pencil and recognised as a significant design object by MoMA and admitted into the collections of the V&A, MOMA, Smithsonian and Art Institue of Chicago, Cooper-Hewitt and Design Museum London.
Investment will be used to increase Plumen’s product range, focus on market expansion to the US and to support distribution through improved marketing.
The global lighting industry will be worth £76bn in 2020 (up from current £66bn) (source: McKinsey report: Lighting the Way: Perspectives on the global lighting market, Second Edition, published in August 2012)
ABOUT PLUMEN
Plumen believes the most powerful way to switch the world into energy efficient lighting is to create low energy bulbs that people love.
In 2010, Plumen radically re-imagined the compact-fluorescent form and created the 001, the world’s first designer low energy light bulb. Just like Tesla used design and engineering to make the electric car much more appealing, Plumen uses design to bring magic, beauty and poetry back to the humble light bulb. www.plumen.com
ABOUT CROWDCUBE
As the world’s first and most successful investment crowdfunding platform, Crowdcube enables entrepreneurs to bypass the traditional business angel, venture capital or bank finance routes, giving them more control and access to more investors. For investors, Crowdcube provides them with a way to cherry-pick a stake in an innovative business that traditionally would have been restricted to corporate investors. In addition, they can now benefit from a fixed return per annum by lending money to more established companies offering a mini-bond on Crowdcube.
Since 2011, 170,000 savvy investors have registered with Crowdcube, helping to raise more than £80 million of equity finance for over 240 business pitches including JustPark (raised £3.7m from 2,900 investors), easyProperty (raised £1.4 million), River Cottage (raised £1 million) and the Eden Project (raised £1.5 million in 24 hours).