Musical accessories firm scores funding boost to help launch new products
An Edinburgh-based designer and manufacturer of musical accessories is looking to echo the success of its first product launch last year with two new innovations after agreeing a £250,000 funding deal.
Noisy Clan was established in 2019 by David Law, who says he is an experienced product designer who has spent much of his career running businesses in California’s Silicon Valley, including a major producer of cases for Apple devices.
He adds that his aim with his latest venture is to develop a range of accessories for musicians of all ages and abilities to make it easier for them to practice and perform music. It has secured the seven-figure sum from Reward Finance Group, which provides asset-backed short to medium-term lending to smaller firms, and which launched an Edinburgh operation earlier this year, expanding its UK-wide regional presence.
The £250,000 working capital facility has been provided by the lender via its Business Finance product, with Noisy Clan saying it will facilitate the development of Grandstand, a music stand designed for home use, along with its new Decoder product, a learning tool to help with music theory. Grandstand launched on Kickstarter on August 2 and is available for pre-order, while Decoder will be available by October of this year.
Noisy Clan explains that it intends to build on the global success of the Wee Stand, the Red Dot Design Award-winning product that launched the firm in 2021. It describes it as an ultra-compact music stand that is easy to carry and use and has sold thousands of units in 47 countries. Its development was also supported through crowdfunding platform Kickstarter.
Mr Law said: “Being able to access funds as and when we need them at this stage of the new product-development process is vital, particularly to build market awareness, and that’s why we are extremely pleased with the funding provided by Reward.”
Brian Machray, business development director at the lender, commented: “We are really pleased to be able to support Noisy Clan, a fantastic new business with a bright future whose fresh ideas are already gaining popularity in their market. Through our Business Finance product, David and his team have a flexible working capital facility that will help them ensure short-term financial demands need not be a barrier to realising their growth plans.”
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