British company Revolymer has taken $19.5 million in additional funding to bring their non-stick chewing gum to market.
The round was led by unnamed institutional investors, with founding stakeholder I.P. Group contributing $1.6 million to the round for a 11.2% stake in Revolymer to 11.2%. The company raised $3.9 million last year.
According to a Press Association report, Revolymer hopes the new product will go on sale to the public under its own brand in 2009 “after preliminary results showed the gum successfully degraded naturally in water and disappeared from pavements within 24 hours.”
The unnamed institutional investors should have been local councils and other statutory bodies who are tasked with cleaning up the mess chewing gum currently creates. I wonder which nanny state country will be the first to ban old-style chewing gum in favor of this?
