Fresh off a successful investment campaign that saw the young company raise over £165,000 towards its growth strategy, London-based tech accessories startup iQualTech has received another fantastic development boost – an invitation to join the exclusive Amazon Launchpad programme.
An Amazon-sponsored venture, Launchpad was created to help startups rapidly grow their brands in collaboration with Amazon’s unparalleled global reach. With a commitment to assisting with sales and distribution, Launchpad affords young businesses the opportunity to direct their focus towards new product innovation and development. Acceptance to the programme is highly competitive, and successful brands gain access to extensive sales and marketing support, special Amazon features, promotions and more.
Launchpad typically requires an application and acceptance process, but their existing incredible success on Amazon meant iQualTech was specially invited to participate. iQualTech’s unique exclusively digital business model centres Amazon as its core platform for sales; a structure that has proved incredibly lucrative for the brand. Since launching in 2013 with no initial investment, iQualTech has organically grown annual sales to over £2 million, with successful online distribution in several worldwide markets – their unique digital structure helping them keep overheads and operating costs low.
A firm focus on customer service and satisfaction coupled with a commitment to innovation has seen iQualTech outpace major competitors on Amazon, a platform the brand regards as a fantastic leveller – allowing smaller companies like iQualTech to compete directly with household names like Beats and Sony.
“Products like our best-selling pill shaped speaker are more affordable and more highly-rated than competitors like the Beats pill, and we’re constantly monitoring market trends,” explains Zamir Cajee, iQualTech’s founder and managing director. “Customer feedback is central to our philosophy, so we’re regularly developing new products to respond to customer needs and fill gaps in the market.”
The £165,000 raised through last summer’s Seedrs crowdfunding investment campaign has given iQualTech the freedom to expand economies of scale – allowing the brand to bring in more stock while furthering their presence in several worldwide markets. Concurrently, the company has been able to fast-track several products in development, expanding the range while ushering new innovations to market sooner.
Collaborating with Amazon Launchpad is set to accelerate this growth process even further – allowing iQualTech to expand its presence in its successful UK, EU, USA and Indian markets while simultaneously entering new regions. Bespoke support from Amazon will mean early bird access to lightning deals and pilot programmes, while Amazon’s dedicated marketing and PR support is set to rapidly boost brand awareness, sales and reach.