22 Sep 2009

ICON Corporate Finance raises £4.1 million for P2i Ltd, the world leader in liquid-repellent nano-coating technology. The funding was raised from new and existing shareholders, to support the international growth 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 C funding round comes as the company accelerates its growth across a wide range of markets. New investor Swarraton Partners led the round and, with Naxos Capital Partners, provided most of the funds. Existing shareholder Unilever Ventures also participated; the company’s original investors include Porton Capital and Ploughshare Innovations. The investment will enable P2i to exploit the international and multi-market potential of their technology.