Home / Knowledge / News / Textiles / Additional funding helps grow P2i business rapidly
Additional funding helps grow P2i business rapidly
01
Jun '10
P2i Limited, the world leader in liquid repellent nano-coating technology, has completed a £5.5m fund raising, to provide further working capital to support its rapid international growth. The funding has come from existing shareholders, Naxos Capital Partners, Swarraton Partners, Porton Capital, Unilever Ventures and Rainbow Seedfund.

• £5.5m of new equity raised
• Ongoing technology licensing revenues in first half of financial year jump by over 600%
• Six new multi-year license deals signed within four key target markets
• Three of six largest hearing aid manufacturers signed technology license agreements
• During April 2010, more than 225,000 hearing aids manufactured worldwide were processed with P2i's water and oil repellent nano-coating technology - annualised rate of 2.7m units
• Presence now established across Europe, North America and Asia

This was the Company's fourth funding round and has now raised £17.2m since it was the first technology spin-out from the UK's Ministry of Defense in early 2004.

P2i's revenues have increased in the first six months of the financial year to 31 January 2010 by more than three times. Most notably, ongoing technology license revenues jumped by over 600%, which reflects the rapid take up of P2i's liquid repellent technology in applications such as consumer electronics, footwear and bio-consumables (such as pipette tips).

P2i signed six significant new multi-year technology licensing deals in the first six months of the current financial year, in four core markets: electronics (hearing aids), lifestyle (sports footwear), energy & filtration (industrial filters) and military (clothing).

P2i's traction within the electronics sector has gained pace within the past year. In this key market P2i has signed licensing agreements with three of the world's six largest hearing aid manufacturers. In April 2010 in excess of 225,000 hearing aids were processed with P2i's revolutionary water and oil repellent nano-coating technology, representing an annual run rate of 2.7m units.

The Company has also doubled the number of employees and scaled up its operations, which are now located across Europe, North America and Asia (China, Singapore, Thailand and Indonesia).

Carl Francis, Chief Executive of P2i, comments:“We are now really beginning to gain momentum, with our world leading liquid repellent nano-technology being used by a range of customers in a range of high volume products around the world. The jump in royalty revenue is a clear indication of our prospects as our customers' ramp up the usage of our technology.

“We have also signed another six key multi-year licensing agreements across four sectors, which not only bodes well for our prospects but importantly widens our industry sector exposure. A clear indication of the numerous opportunities in new markets that we are developing, is that over a third of all new hearing aids worldwide were processed with our revolutionary water and oil repellent technology in April.


Must ReadView All

Israeli minister announces tax cuts on consumer goods

Apparel/Garments | On 14th Dec 2017

Israeli minister announces tax cuts on consumer goods

The Israeli Government will slash taxes by $227 million, finance...

Courtesy: Kelvin Techstyles

Apparel/Garments | On 14th Dec 2017

Kelvin Techstyles fuses style and function in city apparel

Fusing style and function in outdoor clothing, Roseville,...

India’s WPI inflation for textiles up 0.3% in Nov 2017

Textiles | On 14th Dec 2017

India’s WPI inflation for textiles up 0.3% in Nov 2017

India’s annual rate of inflation, based on monthly wholesale price...

Interviews View All

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search