Dunkable Phone Technology Maker P2i Explores Asian IPO
Bohs Hansen / 3 years ago
P2i, a technology spin-off from Britain’s Ministry of Defence, is looking to raise 10 million pounds ($17 million) from Singapore investors as it readies the launch of its “Dunkable” or waterproof technology for smartphones and tablets.
P2i’s technology applies a thin, transparent, splash-resistant polymer coat to products ranging from clothing to mobile phones. The company is in the process of introducing a new version of it called “Dunkable”, that will allow devices to survive being fully immersed in water.
“This is all about growth. We are now at the inflexion point in our business,” P2i’s CEO Carl Francis told Reuters. The firm aims to turn profitable this year and has raised about 47 million pounds since it was set up 10 years ago.
Already counting Motorola and Siemens AG among its global clients and backed by investors such as Unilever Ventures, P2i is mulling a listing on an Asian exchange in the next 12-18 months. They have not made their final decision as to where yet.
P2i faces fierce competition on the market with competitors such as HZO and Lotus Leaf Coating. Senior analyst Ross Kozarsky said, “Hydrophobic coatings is becoming an increasingly dense landscape with a slew of emerging developers.”
It is difficult to differentiate yourself as a brand to the consumer, in a market where no one wants to acknowledge your product. Most customers of this technology don’t advertise with it, they just want to reap the benefits.
Thank you Reuters for providing us with this information
Image courtesy of Reuters