Isle of Wight company Teemill has secured a major strategic investment from Norwegian firm Hawk Infinity, with the deal set to support future growth while keeping the business and its leadership firmly rooted on the Island.
The investment sees Hawk Infinity take a majority stake in the Freshwater-headquartered company, which will continue to be led by its Isle of Wight-based management team.
Teemill, which employs more than 120 people across sites in Freshwater, East Cowes and Bristol, has grown from a small Island start-up into an international technology business, developing software that enables on-demand, waste-free textile manufacturing.
The company has expanded its technology into factories across several countries while continuing to invest in manufacturing and technology development on the Isle of Wight.
The latest investment is expected to support further international growth, technology development and future job creation, with no changes planned to the company’s Island operations or workforce.
Group Managing Director Tobias Penner, from Ventnor, has said:
“This investment is a big vote of confidence in what we can do here on the Island. We remain committed to our local roots, to our mission and we are excited to continue to create new opportunities as we grow.
“We are grateful for the support of the communities where we are based in East Cowes and Freshwater for the support we are shown – when we see people wearing products we make, or that were made with our tech, it motivates us to go out there and win for the Isle of Wight.”
Article continues below this advertisement
Founded by Rob and Mart Drake-Knight with just £200 from a garden shed, the business has gone on to develop technology used by more than 5,000 business software users worldwide.
Its East Cowes facility is capable of producing more than 10,000 organic T-shirts each day, while partnerships with organisations including the BBC, Greenpeace, the RSPB and Aardman have helped drive its continued growth.
The founders will remain on the company’s board to support the existing leadership team and continue investing in the future of the Isle of Wight economy.
The business began with the clothing brand Rapanui, which pioneered sustainable on-demand manufacturing using renewable energy and organic materials.
More recently, Teemill expanded with the launch of Podos, a software platform designed to help manufacturers adopt on-demand production methods, reducing waste across industrial operations.
Hawk Infinity describes itself as a long-term investor in founder-led businesses, focusing on sustainable growth while allowing companies to retain their own identity and management.
The investment follows continued expansion for Teemill, with the company saying it will strengthen its ability to scale internationally while creating further opportunities on the Isle of Wight.
