The business is set to launch its first campaign via equity crowdfunding platform Crowdcube this week as it looks to raise £400,000.
Cheeky Chompers will use the planned investment to drive the development of new products, target direct sales growth and boost brand awareness in its key domestic and export markets.
The brand, which last year won a Queen’s Award for enterprise for international trade, is now sold by more than 1,500 retailers in almost 50 countries, with the US, China and the UK representing the largest markets.
Launched in 2013 with its innovative Neckerchew – described as the world’s first chewable dribble bib with an attached teether – the company has since expanded its range to include nine multi-use baby products alongside products for children and adults with oral sensory issues. Its offering now features blankets, comforters and a muslin collection.
Exports currently account for approximately 65 per cent of total Cheeky Chompers sales. Research by Technavio forecasts that the global market for baby soothers and teethers will reach nearly $8 billion (£6.3bn) by 2020.
The brand revealed in February that it was experiencing rising sales in China via its flagship online store on the Tmall.com platform – the world’s largest e-commerce site – in addition to building a strong presence across other retailers in the region, with upwards of 250 stores stocking its products.
In the UK the brand is sold by major retailers including John Lewis, JoJo Mama Bebe, Tesco, Boots and Nordstrom.
It has also developed collaborative products with select retailers such as Joules and The White Company, and has a number of new national retailer wins in the pipeline.
Founding directors Julie Wilson and Amy Livingstone, who met while they were on maternity leave with their first children, launched the company after noticing that they and their friends struggled with lost or dirty teethers.
Wilson said: “Our vision is to be one of the go-to brands worldwide for baby products and gifts and we’re excited to be sharing our vision and future successes with our loyal customers, supporters and the crowdfunding community.
“Innovation remains at our core, delivered with intuition, quality and style. We have a strong base from which to scale the business with an extensive international distribution network already in place.
“We are really excited about the next phase of growth.”
Livingstone added: “We have exciting new products in progress to expand our product range. This will feed our strong distribution channels.
“In addition, we will significantly drive digital growth and create even closer connections with our individual customers in order to grow the higher margin direct to consumer channel.”
Corporate finance boutique Quest Corporate and corporate advisory firm Full Circle Partners are both supporting Cheeky Chompers with its crowdfunding campaign.