Gamucci electronic cigarette company which was founded in 2006 by two Sheikh brothers are set to appoint Canaccord Genuity to help them realize more than £20 million of the company’s targeted expansion.

The company whose products are marketed in Waitrose and WH Smith are one of the leading firms that sprung up in Britain at the time electronic cigarettes were just beginning to evolve. By the end of this year, the sales of electronic cigarette are expected to have hit the sum of £2 billion with analyst suggesting that this electronic technology in the cigarette niche would be the most significant development to have ever happened in the200 year old history of organized tobacco.

Presently according to the reports of the Medicines and Healthcare Products Regulatory Agency (MHRA), about 1.3 million people in the UK make use of this electronic smoking device with the figures expected to increase significantly by the beginning of next year.

Taz and Umer Sheikh, the two founders of Gamucci electronic cigarette company were once entrepreneurs from Surrey previously dealing in several IT businesses. The early opportunity to improve on the electronic cigarette technology came their way back then as it was just beginning to evolve in 2003 when Hon Lik, a Chinese pharmacy became seriously interested in finding a way to inhale nicotine without burning tobacco. His idea was reasonable because burning tobacco is the cause of the health effects that affects many people including his father who died as a result of lungs cancer as he was a chronic tobacco smoker too. He somehow managed to come up with a battery, an atomizer, and a cartridge which is now the main components of electronic cigarettes.

The fact that the Sheikh Brothers were able to grab the industry when it was still evolving has positioned them well amongst competitors alike as they are looking to expand their company with the recruitment of a good number of senior directors from the tobacco industry to lead their expansion. They are also raising money for two separate events one of which is the purchasing of their license in 2016 when e-cig will be regulated by the Food and Drugs Administration (FDA) under the existing tobacco laws, and the other which is the pumping of about £80 million over the next twelve months after purchasing their license for the improvement and furthering of research and development.

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