P2i, the liquid-repellent nano-coating technology specialist, has raised £4.1million from new and existing shareholders to support its accelerating commercialisation and international growth.
The company was established in 2004 to commercialise liquid-repellent treatments developed by the Ministry of Defence. Its revolutionary technology helps customers protect and improve a wide and growing range of products including performance textiles (such as hiking and military boots; running and golf shoes), hearing aids, laboratory consumables such as pipette tips, and a wide range of filtration products.
In the sports trade the likes of Hi-Tec and ECCO already utilise P2i’s ion-mask technology in some of their products.
This latest funding round comes as the company accelerates its growth across a wide range of markets. New investor Swarraton Partners led the round and, along with Naxos Capital Partners, provided most of the funds. Existing shareholder Unilever Ventures also participated in the round.
Says Carl Francis, P2i’s chief executive: “This substantial new investment, particularly in light of today’s tough fundraising environment, is a clear endorsement of our leading position in liquid-repellent nano-coating technology. It will enable us to exploit the international and multi-market potential for P2i and underpins our ability to work on an equal footing with some of the world’s leading industrial, scientific and consumer brand players.”
P2i says the new funding will be invested in operational infrastructure and facilities, marketing and sales capacity, capital equipment and R&D.