Advanced materials company Hypetex has raised £1.25m in an equity investment to support its carbon colourisation technology.
Based in London, Hypetex manufactures coloured carbon fibre using sustainable colourisation materials. The company says its approach removes the need for paint and improves the performance properties of carbon fibre.
Hypetex’s technology has applications for a range of industries and products, including consumer electronics, aerospace, automotive, and lifestyle products.
The company already serves customers including Adidas, New Balance, and Jaguar Land Rover. With the new funds, Hypetex said it plans to pursue its ambitious growth plans to further scale the business.
“This investment will enable Hypetex to further build on its unique market position in this growing $150bn industry,” said Neil MacDougall, a Hypetex angel investor and new chairman of the board of directors.
“I’m delighted to be joining the talented and dynamic management team as chairman and to bring my experience in helping to scale-up hard-tech companies with breakthrough innovations.”
The company is also looking to expand its product range to include natural fibre products to make them more sustainable.
“This new investment is testament to what we have achieved so far at Hypetex and I’m excited about the future with Neil and Nick involved at the core of the company,” said Hypetex CEO Marc Cohen.
“The composites market is growing at a rapid pace and we are well-positioned to accelerate the use of our coloured advanced materials and be a key part of that as we develop exciting new product streams for the sector.”
The seed funding round was led by VC firm 24Haymarket.
James Campin, an investment executive at 24Haymarket, said: “Hypetex’s technology drives both performance and sustainability, with applications across a number of different industries and we feel they are expertly placed to take advantage of the growing market opportunity.”