Temple Bright advises Rheon Labs on its £4.1m Series A Fundraise
Tech City law firm Temple Bright has advised RHEON LABS LTD on its £4.1 million Series A equity funding round. The round was strongly supported by RHEON LABS’ existing shareholder base. A group of new investors also subscribed for shares.
RHEON LABS is a London-based international advanced materials technology business. Originally developed to deliver impact protection for the body and head in extreme sports, the company’s technology is widely applicable across a range of markets and product categories.
The company works with leading sports, safety and protective equipment brands to build custom solutions to enhance the performance, comfort and protection of their products. Existing customers include Xenith (American Football helmet manufacturer) and FLY Racing (motorcycle helmet manufacturer). Collaborations are under way with a number of other leading brands across the sporting, PPE and motorsport sectors.
The RHEON technology platform has been developed over 15 years by Dr. Daniel Plant, the company’s founder and CTO, and is backed by a globally protected IP portfolio. Dr. Plant is a recognised world authority on the latest approaches to all forms of impact testing and helmet construction.
The Series A funding will enable the accelerated commercialisation of RHEON LABS’ patented technology in Europe and North America, where it is experiencing strong growth as its technology becomes recognised as the global standard for energy control.
RHEON LABS has been working with LGB Corporate Finance and its longstanding legal advisers Temple Bright LLP.
Stephen Bates, CEO of RHEON LABS, commented: “We are delighted to have completed this capital raise, which will fund the company’s next stage of growth. We very much look forward to working with our existing and new backers to capitalise on the exciting opportunities facing the company right now.”
The Temple Bright team comprised partners William Ingram Hill (Corporate), Dan Pearce (IP & Technology) and Carol Tricks (Tax).
William Ingram Hill commented: “It was a real pleasure to work again with RHEON LABS on this exciting deal, which provides the opportunity for Dan, Stephen and the team to keep driving this ground-breaking business to the next level. We are delighted to act for this innovative and ambitious client and look forward to assisting in the next stage of its development.”
Temple Bright was launched in Bristol in 2010, using a tech-enabled, streamlined business model. It opened a second office in London EC2 in 2013 and now has 75 partners, evenly spread across the two locations. The firm advises clients ranging from startups to PLCs across a range of sectors, with significant expertise in technology.
This article appeared on the Bdaily website on 1 March 2021.