Smart materials start-up D3O closes £13m round led by Beringea
Brighton company manufactures protective putty for Hollywood celebrities, American footballers and oil rig workers
D3O, a start-up which specialises in protective orange goos and putty, has completed a £13m funding round backed by private equity firm Beringea and existing investor the Entrepreneurs Fund.
Based in Brighton, the company manufactures putty which is then used for protective gadgets and clothing such as helmets for American footballers, a safeguard for Hollywood stars performing stunts and gloves for oil rig workers.
Since its launch in 2010, the businesses has scaled steadily with 17 products, a team of 70 and contracts with the US military and defence which it has been working with on a range of protective products to help reduce the likelihood of soldiers getting hurt.
This latest investment will be used to fund an engineering and innovation centre in East Croydon and will enable the company to hire more staff.
The smart materials company will also be looking to expand into new territories such as South America and has a suite of new innovations in development.
Stuart Sawyer, CEO of D3O, commented:
“Innovation and talented people are the lifeblood of our company and the new funds will enable us to invest further in research and development facilities and recruit even more highly talented individuals to join the team. This investment will allow us to place more emphasis on product development and international marketing, which will enable us to maintain our market-leading position in impact protection solutions.”