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.