As an ISDX quoted company, Sandal’s raise of £142,406 marked the first time equity crowdfunding investors have had the chance to invest in opportunities via their ISA.
Based in Essex, Sandal plc began in 1996 when the company dealt in converter plugs and cables. Following years of successful trade, Sandal plc created a new brand, Energenie, and expanded into Home Automation and the ‘Internet of Things’ marketplace with its MiHome range: allowing consumers to control and monitor a plethora of appliances, from the heating to the kettle, to rival similar, more primitive products from Google and British Gas. This is a modular system, creating a lower entry price point for consumers to start building the home of the future.
Where are they now?
The Energenie business has grown rapidly since its creation 5 years ago to a current annual turnover run rate of £1m and a list of retailers including Homebase, Maplin, Amazon, Toolstation and ASDA. The new MiHome range has been presented at numerous shows and won product awards at both the ECO Build and Grand Design exhibitions.
The funding round was led by City & Merchant, and was applicable for either EIS or ISA investment.