D3O, a UK-based company which provides impact protection solutions for leading global sports brands and our favorite sports technology company from CES 2015, announced yesterday that it raised a total of £13 million in funding from its investors for a further expansion of the company’s impact protection products and international market growth.
Beringea, which will invest a total of £9 million, and Entrepreneurs Fund, which will invest a total of £3 million, were the two largest investors. Michael Gross, Managing Director of Beringea’s US office was happy about the partnership and was high on what D3O had done recently in attracting a number of high profile partners.
Meanwhile, Entrepreneur’s Fund’s Alex Hardmuth expressed his excitement for the partnership as well saying, “We have seen substantial growth over the last four years and believe this funding will unleash D3O’s next phase of growth.” These two companies invested a large amount of money but did so because of what D3O has done and what they are capable of doing.
Get The Latest Sports Tech News In Your Inbox!
D3O currently supplies leading brands in the footwear, electronics, sport, and military markets among others. The growing company owns patented technology that is used to make a material that is flexible due to the free flowing molecules, but the molecule also lock together to dissipate energy on impact to reduce the transmission force.
While starting with just 1 product in 2010, they now have a portfolio of 15 materials and reportedly have a strong product pipeline for the upcoming year.
Already headed in the right direction, D3O, Entrepreneur’s Fund, and Beringea is hoping that the new investments can push D3O even further ahead with more innovations, new facilities, and international expansion. With so many partners already and new products coming up, it may not be long before we hear more about the British company making waves in the US sports market as well.