Craft Dragon raises £100k from Midven and private investors to expand sales.
Midven backed the Stoke-on-Trent creator of the ImPress crafting machine through its Early Advantage fund.
Craft Dragon designs and manufactures the ImPress machine, a compact multi-functional device tailored for hobby crafters to perform tasks such as hot foiling, stamping, and die cutting.
Stoke-on-Trent-based Craft Dragon has secured £100k in funding from Midven and a group of private investors to support its international expansion and product development. The company created the patented ImPress machine, a compact device designed to handle tasks such as hot foiling, stamping, and die cutting for hobby crafters.
The investment will be used to expand sales across the UK, USA, and Germany, as well as to develop and release new add-ons for the ImPress machine. Midven provided the capital through its Early Advantage fund.
From the founder
"The machine was quickly tailored specifically for the needs of the serious hobby crafter – it is multi-functional, robust and reliable, compact and affordable. We always knew we had a good product and our early sales success proved there is a market. This investment from Midven and private investors will give us the opportunity to grow the company, create jobs and continue to serve our enthusiastic customers."
Jason Nash
Managing Director at Craft Dragon
Investor perspective
"When I first came across Craft Dragon, I captivated by ImPress’s functionality. However, it wasn’t until I visited their stand at one of the UK’s leading hobbies and crafts exhibitions that I truly realised what a great product the company had. I was amazed by the positive feedback from existing customers, many of whom had brought along their friends to order their own ImPress. This investment will enable Craft Dragon to rollout new add-ons to the ImPress and drive sales overseas."
Gio Finocchio
Investment Director, Midven
Use of funds
- 01Expand into international markets
- 02Invest in sales and marketing
- 03Continue product development
Investors
Categories
About the company
Craft Dragon
Craft Dragon manufactures the ImPress machine for the crafts and hobbies sector.