Ministry of Defence technology start-up, P2i, wants to raise up to 10 million of additional funding ahead of the launch of its Dunkable' smartphone and tablet technology.
The company's technology consists of a thin, see-through, splash-resistant polymer coating applied to phones and tablets as well a range of other products, such as clothing. They are now developing a new version of this technology, which will allow devices to be safely immersed in water.
P2i standing for "perform, protect and improve" is looking for more funding from Singapore investors, with Carl Francis, CEO of P2i, telling Reuters: "This is all about growth. We are now at the inflexion point in our business.
"We need to become more Asia-centric. There's just no question. This is where our customers manufacture things, this is increasingly where the decision makers are and the big electronics companies."
The company was launched in 2004 as a spin-off from the UK Ministry of Defence's Department of Science and Technology Lab, with the job of commercialising certain technologies.
"We have had a series of increasing valuations in our business and now is the time to put all of that together and raise some money in preparation of an IPO in 12 to 18 months," Francis continues.
According to a post on P2i's website, the nano-coating technology has been used on more than 50 million devices, with Motorola and Siemens among its list of high-profile clients.
It works by reducing a material's surface energy to make liquids form beads and roll off, allowing phones, tablets and more to be immersed in water without the risk of damage or breakage. The technology was original designed to make protective clothing for soldiers.
