Technical outdoor clothing brand, Jöttnar, has completed its latest investment round, raising over £1m through a mix of re-investment and crowdfunding, in a deal advised on by expert dealmaking firm, GS Verde Group.
The raise will support the business in accelerating the expansion of its product range, team, and customer base.
Jöttnar was conceived in Arctic Norway by founders Tommy Kelly and Steve Howarth. As two former Royal Marine commandos, they honed their skills as the world’s elite specialists in extreme cold weather, mountain warfare, and survival by exposing themselves to Norway’s extraordinarily demanding environmental conditions. These experiences inspired them to launch a range of technical outdoor clothing which excels in performance, protection, and style.
The £1.3m raised through Crowdcube, more than 150% over the original target investment, will fuel hiring within the product development and marketing divisions, expand Jöttnar’s women’s range and broader categories, and open wider distribution channels.
Jöttnar co-founder and Director, Tommy Kelly, said: “As lifelong mountaineers, climbers, and skiers, we leverage our first-hand experience into creating premium, disciplined designs and personally test our products to ensure each is up to the challenge.
“Customer loyalty forms an integral part of our success to date, and so crowdfunding was a natural progression for our next phase of growth. There is now a great opportunity to break into wider marketplaces and deliver an exciting growth plan.”
Multidiscipline dealmakers, GS Verde Group, advised on the deal, and the Development Bank of Wales and Venrex also provided funding and venture capital investment respectively.