CROFTON, Md., May 1, 2017 /PRNewswire/ -- InRoad Toys, maker of award-winning PlayTape®, announced it has closed a Series A funding round led by Shurtape Technologies, LLC, producer of consumer tape brands Duck Tape®, FrogTape®, and T-REX® tape. InRoad Toys has also added O'Reilly Auto Parts, Imaginarium, and select Target stores to its expanding network of retailers, and has been named the 2017 Maryland Home-Based Business of the Year by the U.S. Small Business Administration. Full announcement here.
A 2016 Toy of the Year Finalist, PlayTape enables kids to create instant roads for toy vehicle play anytime, anywhere. PlayTape sticks to any flat surface, and is easy to tear and reposition. After hours or even days of fun, PlayTape peels up without any residue and is recyclable, so cleanup is a snap.
Shurtape became an InRoad Toys manufacturing partner earlier this year. With today's investment in InRoad Toys, Shurtape has strengthened the relationship between the companies, and set the foundation for accelerated InRoad Toys growth.
"I could never have imagined a relationship that works so well on so many different levels," said Andy Musliner, CEO of InRoad Toys. "Shurtape understands our product line and their world-class manufacturing capabilities will enable us to increase efficiency and reduce costs. At the same time, Shurtape's leadership position in the retail tape industry will help us further accelerate our growth."
"We're excited about our investment in, and partnership with InRoad Toys," said Stephen Shuford, CEO of Shurtape Technologies. "This is a unique opportunity for us to participate in the entirely new market of toy tape products. And with the vision of the team at InRoad Toys, we're confident we're embarking on a long and successful journey."
InRoad Toys has also added O'Reilly Auto Parts, international toy chain Imaginarium, and select Target stores to its expanding network of retailers-- more than 5,600 additional stores in 20 countries. PlayTape is now available in more than 12,000 stores in 35 countries. A full listing is at http://www.playtape.com/locator.
InRoad Toys was also named the U.S. Small Business Administration's 2017 Home-Based Business of the Year for the state of Maryland. InRoad Toys is a new breed of small business -- a 100% virtual enterprise that designs and manufactures products, while meeting the demanding requirements of the world's largest retailers.
About InRoad Toys
InRoad Toys' premier product, PlayTape® is revolutionizing the way the world plays with toy vehicles. With PlayTape, kids instantly create roads and rails for toy vehicle play anytime, anywhere! Just unroll, stick, and drive! Since peeling out into the market in 2014, PlayTape has won over 25 industry awards, including Parents Magazine Best Toys of 2014 and was a 2016 Toy Industry Association Toy of the Year Finalist. PlayTape is 100% Made in the USA. Ages 3+. U.S. Patent and Patent Pending. For more information visit www.playtape.com, www.Facebook.com/InRoadToys.
Shurtape®, Hickory, N.C., is an industry-leading producer of pressure-sensitive tapes designed to meet the most exacting standards. Products include masking and paper, foil and film, packaging, double-coated, cloth and duct, and other specialty tape products, in addition to packaging dispensers and equipment for automated and manual packaging applications. Shurtape proudly serves markets from painting and packaging to HVAC and transportation, with facilities in the United States, Canada, United Kingdom, Germany, Mexico, Peru, United Arab Emirates and China. For more information, visit shurtape.com.
SOURCE InRoad Toys