Submitted by Thurston EDC
Local outdoor gear company Trxstle set to manufacture their first run of innovative rod and reel carriers after attracting investors through the new Thurston Investment Network (ThINk).
The Thurston Economic Development Council Center for Business & Innovation launched the Thurston Investment Network (ThINk) in 2017. ThINk is a growing network of individuals, “members”, who have a desire to have a local component to their investment portfolio. ThINk provides an opportunity for its members to invest some of their money in what they know and can see–local businesses that add to the vibrancy of the Thurston economy. Network members are provided opportunities to connect with local businesses who have expressed interest in local capital.
Last month ThINK had its first deal. Members of the Network invested in local outdoor product company, Trxstle. After a tremendous amount of preparation, Trxstle owners John Smigaj and Morgan Misek pitched their idea to a room of more than a dozen potential investors. The duo shared about their market research, manufacturing readiness, and the versatility and demand for a product like theirs that would let an angler transport two fully rigged fly rods on the top of their vehicle and then easily collapse it down for more compact transport.
With ThINk members’ investment, John and Morgan now have the money to produce their first 1,000 CRCs (Convertible Rod Carry Systems) and will have them ready for delivery in June, just in time for the summer fly fishing season. The company already has over 200 reservations for the CRC, many of them gained from their Instagram followers.
“I fly fish,” shared Gary Andrews, a retired local attorney who was one of the ThINk members who invested in Trxstle. “Trxstle’s product struck me as something that was going to be wanted; I could see using it myself,” he said. “And listening to John and Morgan, I liked them as people and their background in design and manufacturing. It was clear they could put products together.”
To read more about ThINk’s first deal, go to the Thurston EDC website.
ThINk’s next business pitch session will be held Wednesday, May 16, 9:30 a.m. – 11 a.m. at 903 Rogers St. NW, next to the West Olympia Food Co-op.
To attend and view the Pitch Session, those interested will be required to sit through a short training to understand how the Thurston Investment Network works and then join the Network. There is no membership fee and never any obligation to invest.
To learn more about ThINk, go to the Thurston EDC website. Or contact, Aslan Meade at: 360-464-6054 ameade@thurstonedc.com
