Supported by 4200 investors, the fashion brand Nikin reached its crowd investing goal of CHF 5 million. Likewise, SoFlow has a successful crowdfunding campaign supported by 230 investors who invested a significant six-digit amount. Both startups will use the funds to fuel their growth.
Since 2016, NIKIN has been planting a tree for each sale of its fair and sustainable fashion products. In collaboration with One Tree Planted, the startup has reached more than 1.8 million trees rooted in the ground, thanks to its 300’000 customers from Switzerland and Germany. Over the years, as a bootstrapped company, the startup generated CHF 10 million in sales and expanded to 50 people.
In December 2022, NIKIN turned to crowd investors on Conda seeking CHF 5 million to fuel its further growth. Following the campaign’s early success, NIKIN attracted more than 4000 people, including friends and family, who enabled the startup to reach its target goal. The funds will be used to expand the brand beyond Switzerland and make it a leading brand in Europe, where the company is currently generating close to CHF 3 million in revenues. The European customer base has 100,000 customers, of which 80,000 come from Germany alone.
SoFlow seals crowdfunding deal after raising more than 586’000
Micro-mobility startup SoFlow develops, manufactures and distributes e-vehicles, with its scooter being the most popular product. Its mission is to enable city dwellers to travel from A to B using sustainable transport options conveniently. For the B2B segment, the company developed the ‘Mover’ to enhance in-house mobility for industrial companies. Based in Flawin, the startup has offices in Holland, the USA and a production site in China.
In addition to the funds secured through the Swiss TV show ‘Die Höhle der Löwen’, SoFlow has obtained an additional CHF 586’000 via the crowdinvesting platform Conda.ch. The funds will flow into the newly formed holding company MZM Group AG, which launched in September 2022. MZM is owned by the three SoFlow founders Manuel Hug, Martin Neuckel and Zi Fong Giang, and the ‘Die Höhle der Löwen’ investors. Investors from the investment round on Conda.ch will also become part of MZM.
The funds will boost MZM’s growth and expansion by entering new markets such as France, Spain, Italy, the UK and the Benelux countries. The company is also seeking candidates for sales, customer service and marketing positions to cater to the growing demand. An exit through Initial Public Offering is also planned in the next 5-8 years.
(RAN)
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