Horizons Ventures, the Hong Kong-based firm that manages the private, early-stage investments in the technology sector for billionaire entrepreneur, philanthropist, business magnate and Facebook and Spotify investor Li Ka-shing, has acquired a $3 million stake in water damage protection technology company HzO as part of a preferred equity investment. HzO was originally acquired by ZAGG in 2009 but since spun off as an independent company to improve and commercialize its ‘WaterBlock’ technology.
This technology protects consumer electronics like phones, media players, laptops and whatnot from water and other liquids (for starters), “on the molecular scale”. From the company’s website:
A nano-scale film with special water- repelling properties is applied to the entirety of the electronic device, seeping into the crevices, and rendering it highly water resistant. Take it in the rain or spill your drink on it — it will still run. It could even survive a drop in the toilet, but we hope you never have to find out.
Utah-based HzO says it intends to integrate its technology not only in consumer electronics but also automotive devices, military devices and vehicles, solar energy, and industrial applications.
Jason Wong, CFO of Horizons Ventures, will take a seat on HzO’s board of directors as part of the investment agreement.