Advanced material tech firm secures £7m investment for global commercialisation
A London-based advanced materials technology business has secured £7m in an oversubscribed Series A funding round led by LGB Corporate Finance.
RHEON LABS’ patented technology is comprised of highly strain-rate sensitive polymers, originally developed to deliver impact protection for the body and head during extreme sports.
The firm, which works with a range of sportswear brands including FLY Racing and RuRoc, plans to use the funds to market its technology across a range of sectors as well as expand into Europe and North America as part of its growth plan.
RHEON LABS’ CEO, Stephen Bates, commented: “We are delighted to have completed this capital raise, which sees RHEON LABS exceed the target amount, on simple terms attracting a unique and prestigious group of private investors.
“We very much look forward to working with our new backers to capitalise on the exciting opportunities facing the company right now.”
Angus Grierson, MD of LGB Corporate Finance, added: “We are delighted to have completed this transaction successfully and to have advised such a compelling high growth company on a landmark fund raise.
“The deal underlines LGB’s strategic corporate finance advisory proposition and ability to access capital.”
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