30 April 2024

Arksen reaches overfunding capacity in successful, fully subscribed £2m Seedrs crowdfunding platform offering concurrent with £6m Series A funding round

Arksen, the pioneering adventure lifestyle brand, announces that following its launch on Seedrs, Europe's most popular and trusted crowdfunding platform in February, funds raised have reached the Company's target of £2 million with scope for overfunding thanks to further interest from significant investors in its concurrent £6m series A round. With this investment anticipated, the fundraising campaign for Arksen's Series A round would be near completion. If investors would still like to participate in this current funding round, we would advise showing interest imminently to guarantee investment allocation.

The Seedrs offering has created an excellent opportunity to make investment open to the group's important global adventure and explorer community numbering some 30,000 yacht enthusiasts, scientists, conservationists and explorers, as well as angel investors. It has run in tandem with the Company's Series A £6m funding round launched earlier this month which has gained strong traction amongst institutional investors.

Founded in 2018 by accomplished entrepreneur Jasper Smith who has spent a lifetime adventuring at sea and on land and whose vision is to create a global adventure brand that is in lockstep with a world in transition, the Company engineers its products to embrace the principles of a circular economy. Uniquely, Arksen seeks to build the 'United Artists' of the adventure world by enabling its community to become fellow owners. Arksen has become an international adventure brand centred around inspiring and empowering the next generation of explorers and conservationists as they seek how best to explore, protect and nurture the planet with appropriate limits.

Initially rooted around its core marine offering, Arksen has developed three key complementary business pillars - Marine, Automotive and Apparel - and reported revenues of £18.5m in the last 18 months of operations, with a forward sales pipeline of over £156m. The Company has sold 21 of its premium explorer boats to date, reflecting strong appetite amongst luxury adventure customers. Arksen's iconic products - award winning vessels, off-road vehicles and performance wear - are known for their exceptional capabilities enabling exploration of the most spectacular and remote destinations in all conditions. The company has a $1.37tn addressable market set to reach $2.3tn within the luxury travel market by 2030.*

Proceeds from both the Seedrs offering and equity funding round will be used to accelerate marketing and geographic expansion, for working capital for expanded product development and to increase stock levels to support rapid dealer growth. The company is seeking margin enhancement through more sophisticated customer acquisition technologies and greater direct channel presence, whilst the US and Asia are key markets for development. New product evolution will be enhanced by higher opex and larger teams, and Arksen will begin to hold a limited stock of products for immediate sale instead of making vessels to order.

Commenting on the Seedrs offering, Founder and CEO Jasper Smith said: "The adventure industry and marine sector are experiencing profound change, driven by emerging technologies and the need to adopt a circular economy. We are proud to be pioneering these changes and the positive reception we have met with through the Seedrs offering and funding round are testament to the effectiveness of our mission to create class leading products and enable our community to own part of that future, creating a robust platform to underpin our next stage of growth".

*(source: Grandviewresearch.com)

ENDS

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NOTES TO EDITORS

Arksen designs and engineers iconic outdoor products for life's greatest journeys. Our aim is to accelerate the transition to a more sustainable future by empowering people to be curious about our planet.  We do this by creating the most capable explorer vessels, overland vehicles, and apparel on earth. 

Through an unwavering commitment to minimalistic design, engineering for the future and building with a complete lack of compromise Arksen builds category-defining products designed to last a lifetime. 

To own an Arksen product is a statement of intent, to get out there, exist in the now and experience the power of nature. It is also a statement of our mutual commitment to tread lightly, to operate within the principles of a circular economy and to join a community of like-minded people, focused on driving change. 

Starting life as a marine company, oceanic health is our north star and philanthropy lies at the core of our values. Arksen takes pride in spearheading the charity '10% for the Ocean', symbolising our commitment to making a lasting positive impact. Arksen was recently awarded 'Leading Pioneer of Global Adventure 2024' by SME News.

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