RPD Announces Latest Funding from 24 Haymarket
25th January 2016
RPD International closes investment, led by 24 Haymarket, to run corporate R&D programs, developing and manufacturing new products for corporates like Vodafone, Bacardi and Air New Zealand.
RPD International powers corporate R&D departments to help them develop and manufacture new products. “These large companies are struggling to innovate at the pace smaller startups are successfully launching new products. They’re working with us to develop these new products, with the vast breadth of skills at RPD, before manufacturing up to several million units in our facilities.” Says CEO Josh Valman. “By using RPD, the risk in launching a new product is greatly reduced – with small internal resource commitments and little required investment in manufacturing assets.”
24Haymarket led this third round of funding, as a private investment network of experienced investors, entrepreneurs and operators focused on investing up to £5 million in equity. They invested alongside existing shareholders and the management team.
Richard Tudor, an Investment Partner of 24 Haymarket, is taking a board seat at RPD. He said “Josh and the team have achieved a great deal already and we are delighted to invest in RPD International. We have substantial experience of helping high-growth businesses and our expertise from our network will help realise the enormous potential for RPD”
RPD International worked with 96 customers in 2015, experiencing 450% YoY growth over the last 2 years. “We have been working with the team at RPD to develop a range of smart devices.” Said Tom Eldridge, Product Innovation Manager at Vodafone. “We have a single point of contact, from concept, through to production. We no longer have to go through complex procurement processes with endless suppliers, hire large engineering teams for short contributions, or invest in manufacturing facilities ahead of confirmed product sales”
RPD has grown quickly in London and Shenzhen through 2015, with rapid expansion in global supply chain. James Price, Global Engineering Manager, has lead growth in the supply chain past 100 factories, with many more in evaluation stages across 40 countries. “RPD’s global coverage has been vital to our projects in Southern India, where they are helping us produce remote sensors and devices that aid improvements of sanitary conditions in developing areas.” Said Tom Adams of, RPD Client, Acumen.
Notes to Editor:
RPD received coverage in early 2014 from many publications, discussing their fast growth and young CEO. Josh Valman is now 21 years of age: Here
Assistant to The Executive Team
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RPD International is a company registered in England and Wales with company number 08132895
16 Bowling Green Lane, London, EC1R 0BD, UK with subsidiaries in Amsterdam, China and Singapore