Ding, a London-based hardware startup, has raised more than £263,000 (~$345k) via the Seedrs equity crowdfunding platform as it works to get its first product — a wi-fi connected doorbell — to market this year.

It’s the second tranche of crowdfunding the team has taken in, following a Kickstarter campaign that raised $111k in November 2016. They are also currently taking pre-orders for their smart doorbell via Indiegogo.

The founders originally specced out their idea for the product, in 2015, in order to enter a Design Council competition, going on to win some funding.
Ding’s oversubscribed Seedrs raise is now at 105 per cent funded, with 220 investors collectively taking a 9.51 per cent stake in the startup. The company is listed as having a pre-money valuation of just over £2.5M.

The startup says the funding will be used to grow the team and scale up production in order to meet “increasing demand from retailers including John Lewis”.

The RRP for the product, which they estimate will be on sale in time for Christmas, is £140 to £150 (~$180 to $195). It’s currently up for pre-order via Indiegogo starting at $140.