Swarraton Partners, Naxos Capital Partners and other incumbent investors make a further £5.5 million investment in P2i.
This funding follows on the heels of a £4.1 million round raised by ICON in July 2009.
P2i is the world leader in liquid-repellent nano-coating technology. The funding will be used to accelerate the international expansion of the company.
P2i was established in 2004 to commercialize liquid-repellent treatments developed by the Ministry of Defence. Its revolutionary technology helps customers protect and improve a wide range of products including performance textiles (such as hiking and military boots; running and golf shoes), also hearing aids, laboratory consumables such as pipette tips, and a range of filtration products.
This Series D funding round comes as the company is experiencing rapid growth across a wide range of consumer markets.
“ICON is extremely well connected and was invaluable in helping us focus our time and efforts on the right organisations and people. They really lived up to their reputation as being one of the best and most proactive advisers within the tech investment community”
Carl Francis, CEO, P2i