Landmine disposal specialist Disarmco closes £150,000 Crowdcube funding round
Oversubscribed pitch in UK munitions removal company to bring pyrotechnic technology to market
Southend-on-Sea landmine disposal start-up Disarmco has announced it has raised £149,500 through equity crowdfunding platform Crowdcube, securing £30,000 over its original campaign target.
126 investors backed the pitch in return for a share of 31.5% equity in order to support the development of Disarmco’s first commercial product.
Launched in 2012, Disarmco focuses on the de-militarisation and neutralisation of large stockpiles of conventional munitions and landmines, with its main services including pyrotechnics; used to clear individual munitions and minefields, X-ray backscatter; detects hidden explosive devices, and its Ammunition Disposal Facility (ADF); a truck portable system that can dismantle large stockpiles of munitions.
It plans to use the investment to develop and launch its ‘Dragon Torch’; a product engineered using pyrotechnic technology to help effectively dispose of landmines and other unexploded ordnance (UXO).
It estimates that it will bring the Torch to market over the next six to eight weeks once final testing is completed in the South East, and has a second product, which assists in the disposal of munitions stockpiles, currently in development.
The news follows interest from several non government organisations and commercial organisations to trial the Dragon Torch in Kuwait, Libya, Afghanistan, Iraq, Pakistan and the Far East.
Disarmco co-founder, Arpana Gandhi, commented: “There are so many people living in conflict and post-conflict countries who face daily dangers due to anti-personnel mines, IEDs and other stockpiled or abandoned explosive ordnance.
“We’ve carefully planned how we gain market entry and our aim is to offer a toolbox of products to become the de-facto service within the defence sector.”
Darren Westlake, CEO and co-founder of Crowdcube, added:
“We are incredibly proud to be supporting Disarmco and delighted to see that they have exceeded their original funding target due to popular demand.
“Landmines and other hazardous ordnance present a huge humanitarian and commercial challenge for demining organisations around the world, but Disarmco clearly has a competitive edge and the commercial and technical skills to become a leader in this field.”