Playwood is the modular furniture startup that has developed a furniture assembly system that allows to assemble and reassemble furniture for homes, offices and trade fairs, reusing it in different combinations. The startup sold 300,000 pieces in 2019 alone, in 32 countries, and has just started its first equity fundraising on Mamacrowd.com with a minimum target set at $223,170 (€200,000).
The crowdfunding campaign has already got contributions from 15 donators on the amount of $149,585 (€133,953), and there are still 51 days left until the ending of the campaign.
Since its inception in 2016, the startup has sold over 500,000 pieces in four years. On the financial front, Playwood has concluded two private investment rounds in which some of the venture capital companies Primomiglio Sgr and LVenture Group participated. Now the time is ripe for scaleup with further capital raising. The funds raised will be used to consolidate the team, expand the sales network and continue to work on product innovation.
The Born2Invest is the leading news and information mobile application covering the emerging global industry of disruptive finance including investment crowdfunding, biotech, fintech, financial headlines, and much more.
Playwood offers a patented design and colored high-tech polymer
Playwood connectors are made of a colored high-tech polymer and reinforced with glass fibers to make them light, yet as strong as metal. Featuring a patented design that makes them very intuitive to use, the connectors guarantee a weight resistance of over 250 kg and can be reused indefinitely. They are produced in different angles and work like a clamp: you just slide them on the edge of the panel and tighten them in the correct position. The wooden elements of the kits come from sustainable forests and are formaldehyde-free.
In addition, the entire production and sales chain is designed to minimize environmental impact, including transport. Since its inception in 2016, the startup has already successfully completed two private investment rounds in which Primomiglio Sgr and LVenture Group Spa have participated.
“Traditional assembly methods involve screws, bolts, drills or glues that inevitably ruin furniture panels, making disassembly difficult or even impossible.” – explained Stefano Guerrieri, co-founder and CEO of Playwood. That results in 100,000 tons of furniture being thrown away every year in Europe. Fairs and events force us to transport and rethink the elements of the company stand. Moreover, our homes need changes in the space organization once in a few years. A baby on the way, children growing up, a bedroom to transform into a studio. Playwood’s innovation was to completely rethink the design of the furniture assembly system.”
The pre-cut Playwood panels are available in Leroy Merlin and BauHaus
Large international distribution chains, including Leroy Merlin and BauHaus, are offering the Playwood model in combination with the pre-cut panels. Playwood is a product already internationally validated, with over 500,000 pieces sold in just 4 years, 70% of which are sold abroad. The 105% increase in online purchases (2019) confirms that the product guarantees a unique user experience for businesses and individuals. In fact, being the fastest ever allows you to reduce set-up times and transport costs, a quality that is particularly appreciated when organizing large events or exhibitions.
Anyone interested in joining the campaign, can go to Mamacrowd.com, select the Playwood project, access the full documentation and choose the amount to subscribe. 30% of the investment can be deducted from taxes.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in FORTUNE, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [++ KuCoin Affiliate Program Review]
This week, we answer the two questions on everyone’s lips — What do SJWs and e/accs have in common? And...
BIPV Boom: By 2032, Building Integrated Photovoltaics Will Be Worth Over $143B
The next moves by the European Commission and the trend toward a real estate stock composed of Zero Emission Buildings...
French Fintech Company Qonto Launches SME Financing in Italy
Qonto is expanding its financial solutions for SMEs and professionals in Europe, launching the option for companies in Italy to...
Trusters and Leone Investments Finally Receive Approval Under EU Regulation
After almost a month under the new EU Regulation, two platforms, including the historic Trusters launched in 2018 and the...
Coinbase Wallet Has a New Feature: Send Crypto via Web Link
The exciting part is actually in the small print: This is because Coinbase covers the fees for transactions via stablecoin...