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ion mask owners raise £4.1m for growth
P2i Ltd, the world leader in liquid-repellent nano-coating technology, has raised £4.1 million ($6.7 million), from new and existing shareholders, to support its accelerating commercialisation and international growth.
P2i was established in 2004 to commercialise liquid-repellent treatments developed by the Ministry of Defence.
This Series C funding round comes as the company accelerates its growth across a wide range of markets.
The new money will be invested in four main areas: operational infrastructure and facilities; marketing and sales capacity, including further development of the company's US organisation; capital equipment; and R&D.
Part of the manufacturing expenditure will be devoted to the development of patented continuous plasma-processing systems supporting higher-volume applications of P2i's technology, opening up fresh business opportunities, particularly in textiles, apparel, and FMCG products.
