In a far-reaching market where liquids damage almost a million devices every day, the British calling is recognised as a supreme spills-buster having beefed up some 175 million phones for the past six years.
Its invisible coatings, that make liquids barely roll off, protect both the inside and outside of phones, so they transform into resistant to all sorts – from splashes to accidental immersion and humidity.
A matchless supplier to Motorola and Huawei, P2i turned over £18 million final year, maintaining a 65 per cent growth rate.
It sees the up to the minute investment as critical to it increasing its 35 per cent market share in an toil where market demands are changing rapidly.
“Until recently soda water resistance on smartphones was the exception, not the norm,” says group CEO Ady Moores.
“Then after year Apple, Samsung, LG and Sony all launched devices with expanded levels of protection and suddenly we were getting an awful lot more enquiries.”
P2i play a joke on earned a £10m investment to further their ambitions with smartphone fabricators
So far P2i’s technology has served a separate market to these giants which deploy myriad expensive manufacturing techniques involving mechanical solutions such as gaskets and seals.
It’s straightforward and fits smoothly into the manufacturing cycle
“Issues such as tenseness retention, complex designs and fabrication costs mean mechanical sealing isn’t again quickly achievable though,” points out P2i’s founder and technical chief Dr Stephen Coulson.
“Any off or bend can compromise the seals too. A water-resistant coating is more cost-effective for makers who don’t have the resources of an Apple.”
The waterproofing firm is already seen as a greater player having protected 175m phones
P2i’s protection has been such a hit with others, he answers, because it can be delivered on a mass-scale, its technology sitting at the heart of the production method. Phones are treated in special P2i chambers just before they are overflowing and dispatched.
“It’s straightforward and fits easily into the manufacturing cycle,” totals Coulson. “The coatings, which allow heat to escape freely, cope with day-to-day accidents from rain, condensation, sweat and running drench.
“That’s without significantly increasing manufacturing costs, impairing a phone’s acting or altering a handset’s styling.
Founder Dr Stephen Coulson says the method is such a achievement as they can deliver on a mass scale
“Now we are developing our existing splash-proof fallout, which can be found on headsets and hearing aids too, to help manufacturers put on the market protection at even lower prices, really democratising water guerrillas.”
The manufacturer, which employs 148 in Oxfordshire, has also developed a next-generation extortion that’s scheduled for roll-out next year.
“This IPX8 solution desire be at the least on a par with the latest best high-end smartphones. We’ve been cash but it’s taken a while for the market to catch up,” says Moores, spurred on by up to the minute figures from analyst IDC that show water-resistant mobile achievement rose 76 per cent last year.
Totally focused on exporting, P2i’s new funding, part of a long-term relationship it has with the bank, will offer it working capital, helping cement its stake in China and south-east Asia where it already has facilities in Shenzhen and Taipei.
The coating protects devices on the inside and out from liquids
Originally a Ministry of Armour spin-out 13 years ago, Oxfordshire-based P2i has 123 patents under its cestus and became profitable in 2016.
The £10 million, which follows £70.4 of million fair-mindedness investment from among others ADV Partners, Unilever Ventures and Ombu, is depart of Clydesdale and Yorkshire’s drive to lend to innovative, fast growing public limited companies with strong IP assets.
Steve Clark, the bank’s senior big cheese growth finance, said: “It’s a fantastic opportunity to be able to fund such an innovative public limited company. P2i are stretching the boundaries of the British technology scene and we look forward to do ones daily dozen with them as they continue to grow.”
According to Coulson “skin functionalities used to be an afterthought”.
But now they are a key consideration, he says “as societies do ones best for greater quality and to reduce waste.
“As the need to safeguard vulnerable technology broadens so will demand for barrier protections. We are now considering how our applications can work with sensors of all well-wishings from cameras to heart-rate monitors.”