D30 Closes New Investment Funding For Overseas Growth
D3O raised $13 million from Entrepreneurs Fund and Beringea to support expansion of their impact protection solution tech and product lines, hire more skilled employees and open up a UK hub while opening up new offices overseas in the US and Asia. Their sports technology relationships with Schutt Sports, Burton Snowboards, Scott Sports and Rome Snowboards have led to 90 percent of revenue in 2014 generated mainly from exports out of the UK. The Sports Techie blog is excited to cover significant global sports tech news such as our continuing coverage of D3O business development opportunities over the past several years our readers and followers can read more about here.
D3O currently employs about 70 people. They designed a patented technology that makes a soft, flexible and branded orange-colored smart material with enormous shock absorbing properties used throughout their impact protection lines. In baseline conditions the material’s molecules flow freely, allowing it to be cushy and pliable, however on impact, lock together to dissipate the impact energy and reduce the transmitted force.
A noteworthy sport achievement is the new helmet liner system designed to protect and reduce brain trauma in American football across all levels of play. The D3O® impact absorption technologies are a key feature in the STX Stallion lacrosse helmet by Schutt Sports resulting in them recently winning a Manufacturing Leadership Award for New Product Innovation.
“The company’s materials and design skills have already attracted a number of high profile industrial and retail partners and we are excited to support the company, its materials and the D3O brand as it grows to become a major international force,” said Trevor Hope, Chief Investment Officer of Beringea in the UK.
By establishing themselves in the footwear, electronics, sport, workwear and military protection spaces, the future looks bright for expansion into new verticals. Impact protection products, protective wear and shock absorbing materials are fast becoming standard equipment for a variety of sports from softball to motocross. The concussion, TBI and CTE era we live in has fueled leading sports brands around the world to sell more helmets, body armor and impact apparel invented by D3O.
International market growth by the company led to $10 million in revenues last year resulting in the second straight annual increase of 50 percent. A breakdown of sales data shows that 40 percent of sales came from here in the US. Alex Hardmuth of Entrepreneur’s Fund, said, “The recent adoption of D3O’s innovative materials in the oil and gas industry as well as in American Football are only two examples that testify to the company’s performance. “ This international business plan enabled the company to receive a 2014 Queen’s Award for Enterprise for International Trade.
Stuart Sawyer, CEO of D3O, said: “We are delighted to have secured funding from our new investor Beringea and we embrace the continued long-term support of the Entrepreneurs Fund, who have always believed in the company’s ability and global opportunities.”
Their innovative R&D was a core reason the D3O portfolio of products grew from one product in 2010 to 15 unique materials in 2015. Executives promise their diverse strong new product pipeline over 2015-16 will be enhanced via this new round of financing and the capital will be used to open up new facilities, manufacture new machinery and increase the D3O work team by hiring engineers, designers and chemists with key skill sets. “We have seen substantial growth over the last four years and believe this funding will unleash D3O’s next phase of growth,” said Hardmuth.
Scott added, “Innovation and talented people are the lifeblood of our company and the new funds will enable us to invest further in R&D facilities and recruit even more highly talented individuals to join the team. This investment will allow us to place more emphasis on product development and international marketing, which will enable us to maintain our market leading position in impact protection solutions.”
Look for a new state-of-the-art innovation and development centre in the UK that will act as the company global knowledge hub. U.S. expansion steps include the opening of a new sales and marketing office, while in Asia D3O plans to found a local testing and production facility enabling better relationships to vendors and Asian customers. According to Kathryn Bellamy, D3O Communications Manager, “New funds are targeted to support growth while helping with innovation, international expansion and the development of new facilities in the UK and worldwide.”
The $13 million in investment was led by existing investor and largest shareholder, Entrepreneurs Fund, in the amount of $9 million. This money added to the $3 million in funds solicited and gathered from Beringea plus the capital existing shareholders reinvested into D3O is enough for the company’s next growth plans.
Michael Gross, Managing Director of Beringea’s US office, commented, “D3O’s technology has a myriad of commercial applications, in a wide variety of markets. We’re especially excited about the applications for the sports, industrial, and automotive markets. Our proximity to Metro Detroit’s automotive supply base and D3O research partner Wayne State University will allow us be an important conduit to the company’s US expansion.”
Hope added, “D3O is a great example of a British company with a core of deep scientific and technical expertise in the increasingly important and valuable smart materials industry.”
Sports Techie, if you have a sports tech vision for a new impact protection product, working with D3O is a good way to proceed as Schutt Sports, Furygan the French motorcycle brand, Burton Snowboards, Snickers Workwear, the US Special Forces, and Dr. Martens and Karrimor footwear, have all successfully done.
Raising new funds will allow their executive team to execute on the business plan used to help raise $13 million in order to increase brand presence, head count and selling opportunities around the globe.
If you ride a motorcycle or MT bike, play lax or love to ski or do some snowboarding on the mountain slopes, keep D3O in mind when purchasing new protection equipment, it could save you, a friend or family member injury or even loss of life. Have fun and be safe.
See y’all later in Seattle and here in Atlanta.
Sports Techie Social Media Networks
Sports Techie SportsBlog.com: http://www.sportsblog.com/profile/SportsTechie
Sports Techie Skyword: http://robertroble.skyword.com/
Sports Techie Skype: sportstechie
Sports Techie Twitter: @SportsTechieNET: http://twitter.com/SportsTechieNET
THE #SportsTechie Twitter: @THESportsTechie: https://twitter.com/THESportsTechie
Sports Techie Facebook Fan Page: http://www.facebook.com/SportsTechie
Sports Techie YouTube Channel: http://www.youtube.com/user/sportstechie
Sports Techie Google+: http://gplus.to/SportsTechie
Sports Techie Google+ Community: https://plus.google.com/u/0/communities/103708211458464405078
Sports Techie (Robert Roble) Google+: https://plus.google.com/+RobertRoble
Sports Techie LinkedIn Group: http://www.linkedin.com/groups/Sports-Techie-2958439
Sports Techie LinkedIn (Robert Roble): https://www.linkedin.com/in/robertroble
Sports Techie Instagram: http://instagram.com/sportstechie
Sports Techie Pinterest: http://pinterest.com/SportsTechie/
Sports Techie Moby Picture: http://www.mobypicture.com/user/sportstechieNET
Sports Techie Myspace (Bob Roble): http://www.myspace.com/549000677
Sports Techie Flickr: http://www.flickr.com/photos/[email protected]/
Sports Techie Vine: https://vine.co/u/906354614369136640
Sports Techie Quora: https://www.quora.com/Bob-Roble
Sports Techie Vimeo: https://vimeo.com/user36773456
Sports Techie FriendFeed: http://friendfeed.com/sportstechienet
Sports Techie Guy: https://twitter.com/sportstechieguy
One response to “D30 Closes New Investment Funding For Overseas Growth”
[…] 2014 Queen’s Award for Enterprise for its strong growth in international trade. In April 2015, D3O raised a total of £13 million in funding from European-based investor Entrepreneurs Fund and US- […]