MEIF - Proof of Concept

Mercia announces Intechnica follow-on | Interview with Jeremy Gidlow

22nd December, 2021

Mercia is pleased to announce that its direct investment portfolio company Intechnica has completed an £8.5million funding round to accelerate its growth in both the UK and US markets. Mercia has invested a further £1.2million from its own balance sheet, alongside a £5.0million investment by the Mercia advised/managed Northern VCTs and £2.3million from existing private investors and Rupert Cook, the recently appointed non-executive chairman of Intechnica’s cybersecurity business, Netacea.

Following this investment, Mercia holds a 24.4% fully diluted direct equity stake in Intechnica Group, with the Northern VCTs holding a further 10.6% fully diluted equity stake.

Watch as Group CEO, Jeremy Gidlow, explains a little more about its cybersecurity platform, and the help and support Mercia has given to the Manchester-based tech company.

Read the RNS here

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