Wales-based Revolymer was founded in 2005 and is best known for its removable chewing gum after developing a polymer technology, which has the potential to prevent gum from sticking to pavements and other surfaces. This problem costs the UK’s local governments millions of pounds annually in clean-up charges.
The technology also has potential applications in other markets which include medicated gums, personal care products, paints and coatings. Following the completion of the financing round the IP Group have retained an 11.2 per cent beneficial stake valued at £3m.
The fundraising will result in a total fair value gain to the IP Group of £2.3m.