Plumis raised funding for development of their product prototype. They are now considering 2 offers of financing from investors to fund their commercialisation strategy.
Plumis Ltd - award winning product goes to market
Plumis Ltd has developed an innovative fire suppression device, Automist, which provides cost-effective fire protection based on water mist dispersal from a standard domestic mains water supply. The company was established on the back of novel research into the fire protection industry conducted through the Royal College of Art and Imperial Business School and incubated through Design London. In 2009, Automist was awarded the James Dyson Award, beating 400 projects from 21 countries. James Dyson said "This simple but clever device should become a permanent safety feature in the home. Smoke alarms are an essential part of modern life but have remained fundamentally unchanged for years. Automist not only detects a fire but can put it out as well. Automist was also awarded a BIS Gold Medal at the British Invention of the Year Awards 2009.
The Plumis team went through the G2i Investment Readiness programme in Autumn 2009 in order to prepare for seeking equity investment. The team were keen to test their route to market strategy and ensure it would stand up to investor scrutiny. As a result of accessing the programme Plumis were able to access soft funding for prototyping and testing and have now received 2 separate offers of investment to fund their commercialisation strategy.
"The G2i programme exposed us to experienced industry insiders and specialists who gave us invaluable practical advice on finance, the investment process and presenting a professional face to the world. This experience has certainly saved us time and money, precious commodities in any startup " said William Makant of Plumis.
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