Luxury cat furniture business Catipilla has surpassed its crowdfunding target of £100,000 in two days, following its official launch on CrowdCube at the end of January.
As of 3 February, the business has attracted 167 investors and raised £123,742, which is 123% of its original target. The group noted there are still 21 days left to contribute to the crowdfunding.
The growing scale-up has seen orders double year-on-year since entrepreneur and ex-NASA engineer, Andy Sutton, founded the business three years ago.
Over 2,500 Catipilla products have now been sold into 16 countries worldwide, with orders increasing more than five-fold during the 2020 lockdown.
Sutton said: “The cat segment of the pet market is worth an estimated £5bn in the UK alone and we feel it’s largely underserved. Food aside, there’s no dominant cat brand. For too long the UK’s 8 million cats have put up with unimaginative, poorly designed and low-quality products. If you’re a cat owner, you’ll know what we mean.”
Last month, Catipilla launched a new and enhanced range of climbers, high pates, hammocks, teepees and scratchers. The group said it delivers on a “philosophy to build innovative products for happy cats and stylish homes”.
Sutton added: “We’re passionate about cat health, well-being and happiness. And we know that there are a lot of cat lovers out there who feel the same. This crowdfunding raise is an opportunity to join us as we develop new products and accelerate growth through the UK and international markets.”