How many times have you been on site and thought, “There’s got to be a faster way to do this”?
Well former electrician Davy Gray decided to act on that when coming up with his ingenious invention, ViperClip – and it’s just secured a massive £350,000 in funding for development.
As stated on the company website, the Viper Clip is a patent pending, fully insulated cable staple which works with it’s specially designed, battery powered stapler to secure cables to wooden joists and structures.
Davy, alongside his wife and business partner Julie, first introduced the product on BBC’s Dragon Den earlier this year, where they turned down 4 offers before accepting an £80,000 investment from Deborah Meaden in return for a 25% stake in the company.
However, it seems that appearance got the electrical industry buzzing and the couple from Lisburn have now secured a further £250,000 from 9 investors through the Halo Business Angel Network (HBAN) and a further £100,000 from Co-Fund NI.
Speaking to the Belfast Telegraph, Chief Executive Julie said: “While we are very grateful for the offers made by the Dragons, especially Deborah, having this group of accessible local investors on board will be so valuable in our next phase. “They have a wealth of experience and will be an amazing resource to tap into.”
The investment will help get the product ready for a planned launch next year and while initially designed for the trade, there is potential for it to expand into the DIY market too.
(H/T Belfast Telegraph)