The Cole-Bar Hammer’s production team is formulating stretch goals for their Kickstarter crowd-funding campaign, in hopes of tripling or quadrupling their initial $100,000 goal. Having raised over $100,000 in just the first thirty days of the sixty-day campaign, the team now aims to fund not just pre-production, but also manufacturing and a complete national marketing launch of the new multi-tool invention.
Roan Mountain, TN -- (ReleaseWire) -- 05/31/2013 --A multifunction tool based on a combination hammer and crowbar has met its $100,000 Kickstarter goal with 30 days to spare. The crowd-funded campaign launched April 24 and ends June 24, 2013. “We are all amazed at the overwhelming positive response to the Cole-Bar and we are very excited about making the best tool that we can,” said the Cole-Bar team’s spokesperson, Brandon Hyde.
The Cole-Bar Hammer was inspired by its inventor’s late son, Cole Hyde, who had the idea for the tool when he was just eleven years old. When Cole tragically passed away less than a year later, Cole’s father, Lance Hyde, decided to move forward with a prototype of the tool in tribute to his son, ultimately naming the tool after him.
Over the next several years, Lance and Cole’s brother Brandon Hyde continued to create prototypes, eventually becoming the finalists on the DIY Network’s Cool Tools inventor’s competition show. Lacking the budget for expensive materials research, industrial design and manufacturing development, the family turned to Kickstarter.com in April of 2013. Headquartered in New York City, Kickstarter is a “crowd funding” website that has helped artists, innovators, designers and other creators fund over 40,000 projects, from art installations to underwater robots to music albums and restaurants. The Cole-Bar is one of the first hand tools ever funded via Kickstarter.
Pledge levels on the Kickstarter project start at $1 and go up to $5,000 or more. As of May 31, 2013, the project has brought in $106,299 in pledges. Most funders seem to be eager to get their own Cole-Bar Hammer, with 1,397 of the 1,480 pledges coming in between $65 and $85, in exchange for which the recipient will get a production model of the demolition multi-tool. The highest pledge so far is for $1,000, which will get the backer one of the first 100 Cole-Bar Hammers manufactured, plus a certificate of authenticity signed by Lance Hyde, and a picture of his son Cole, who inspired the tool.
The highest pledge level available is $5,000, which will get the donor one of the first 25 Cole-Bar Hammers produced, plus a trip to Indianapolis, Indiana and dinner with Lance Hyde and his family. All $5,000 donors will also be welcome to join the production team on set of the Cole-Bar infomercial, to be filmed later this year.
“We are overwhelmed by the success and we sincerely thank everyone who has pledged to our project,” said Brandon Hyde in a recent update. “Due to the great success, we are already in the process to move forward with full production. We have already been in discussion with our engineers/designers as we analyze the current prototype. We will decide on what changes we can make to improve the tool before we move into pre-production.”
About the Cole-Bar Hammer
A combination hammer, crow bar, a demolition tool, angle measurement tool, ruler, a socket wrench and nail pliers, the Cole-Bar Hammer is named for its inspiration, Cole N. Hyde. Cole was just eleven years of age when he and his father Lance Hyde were building a pole barn. While putting tools away after a long day, Cole had laid a crow bar on top of a hammer. They both had the same thought — “Wouldn’t it be nice if you had a hammer and crow bar together?” Sadly, Cole passed away at the age of twelve after a tragic accident but his father and family never gave up on Cole’s idea, manufacturing five prototypes over the years to test and refine the concept. The Cole-Bar Hammer had its official launch at the 2013 National Hardware Show. An earlier prototype made it to the finals in a DIY Network inventors competition. Check the Kickstarter page at http://bit.ly/colebarpr for the latest news updates.