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The FreedMan chair raises 900,000 GBP capital

Saturday 29 November 2014

Almost £1m has been raised to support the growth of what is claimed to be the world's first truly ergonomic chair. The FreedMan Chair has been designed to alleviate and prevent back pain and address the problems associated with prolonged sitting. Its investor says it is the only chair which allows the spine and pelvis to achieve the same posture in sitting as when standing. Following a crowdfunding campaign through VentureFounders, 59 investors threw a combined total of just over £900,000 at the chair. The company behind it is Warrington, UK based and will be delivering the first batch of chairs early next year. On the FreedMan website, a chair, offered in a range of colours, is priced at £849. Osteopath Simon Freedman is the Freedman creator and told the M.E.N. that 2.5m people have back pain in the UK every day, costing the country £12.3bn a year. He said he offered investors 37 per cent equity and the raise, with an average investment size of £15,500, was completed within 85 days of its launch. He added: “We are absolutely delighted to close our funding round. "This capital will allow us to fully unlock Freedman’s next stage of growth and gets us one step closer to helping the countless people who suffer from muscle and back pain.” The FreedMan Chair has been designed to help people sit correctly and healthily. VentureFounders co-founder Paul Moravek added:“As soon as we met Freedman the strength of their product, the chair’s clear potential competitive advantage and their committed management team stood out for us. Freedman is at the forefront of ergonomics and Simon and his MD Peter Brazier are passionate about the product and the health benefits associated with it. "The funds will enable the company to expand production capacity and distribute globally to rapidly growing markets.”

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