Radio Tactics, a UK-based manufacturer of digital intelligence and evidence gathering solutions, announced recently that it has completed a fundraising effort that will help the company expand its activities in the U.S.
According to a statement, the company has secured £950,000 ($1.5 million) in funding that it will use to "establish an American office; hire key personnel in the USA; improve the marketing and promotion of products, especially in the USA; broaden the product portfolio to optimize it for the American market; and, provide sufficient working capital for the company to be able to focus on larger more infrequent opportunities."
The funding was raised via a placing of new shares and investors included Oxford Technology ECF and The Capitol for Enterprise Fund. A total of £50,000 was raised internally by Radio Tactics staff members.
"The board of directors are pleased that we have been able to complete this fundraising with minimum equity dilution," said Radio Tactics CEO Andy Gill in the statement. "The success of this fundraising reflects investor confidence in Radio Tactics' unique technology and provides the financial support for Radio Tactics to continue its expansion across the United States of America."
For more information about the company, visit www.radio-tactics.com.