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ZHD3O secures £13 million in new funding
D3O’s orange-coloured shock absorbing material is used in a number of impact protection products.
UK-based smart materials company D3O has announced that it has raised around £13 million in funding from its existing investor, Entrepreneurs Fund, and new investor Beringea. This will support further expansion of the company’s impact protection products and international market growth.
Beringea will invest a total of some £9 million from its UK and US offices, while the Entrepreneurs Fund – D3O’s largest current shareholder – will invest a further £3 million, with other existing shareholders supplying the balance.
D3O has developed a patented technology used to make soft and flexible orange-coloured shock absorbing material that is incorporated in impact protection products. The company sells into a range of markets, including footwear, electronics, sport, workwear and military protection.
The company delivered revenues of close to £10 million in 2014, marking the second consecutive annual increase of 50 per cent. Over 90 per cent of D3O’s revenues are from exports, with 40 per cent of sales in the USA. This international approach helped the company achieve a Queen’s Award for Enterprise last year.
According to a D3O spokesperson, the new funds will support further growth and product innovation, as well as international expansion and new facilities in the UK and abroad. These will include a state-of-the-art innovation and development centre in the UK, which will be the global knowledge hub of the company. US expansion will include a new sales and marketing office and in Asia, D3O will open a dedicated testing and production facility for greater proximity to its Asian customers. The company currently employs about 70 members of staff and received the Queen’s Award for Enterprise in recognition of its international trade during 2014.
Publishing Data
This article was originally published on page 4 of the June 2015 issue of SATRA Bulletin.
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