Sigma Technology Venture Fund (“STVF”), a fund managed by Sigma Technology Management Limited (“Sigma”), is pleased to announce the completion of a £1,155,000 funding round into SFX Technologies Ltd (“SFX”). This is the fourth investment round that Sigma has led for SFX and brings the total amount of investment arranged by Sigma for SFX to £2,855,000.
STVF invested £250,000 as lead investor alongside Charlotte Capital Limited, which invested £500,000, Scottish Enterprise’s Scottish Co-Investment Fund, which invested £250,000 and a group of private individuals and management who invested a total of £155,000.
SFX has developed a patented sound delivery technology called SFX Gel Audio. This technology transfers sound via a unique hydro-gel coupling to almost any surface and in doing so, turns that surface into a loudspeaker panel. The technology works with a very wide range of materials including glass, metal, wood, plastic and various composites. This means that potential applications range from consumer electronics to industrial audio and architectural uses.
This round of funding will be used to accelerate the commercial exploitation of SFX Gel Audio. and to continue the development of the product range.
Mark Hogarth, Investment Director at Sigma, said: “Sigma has now supported SFX as lead investor through four rounds of investment and we are delighted at the progress the company has made. We are very pleased to welcome Charlotte Capital as a co-investor at this round and are delighted to be joined, once again, by Scottish Enterprise’s Scottish Co-investment Fund.”
Guido Crolla, Chief Executive Officer at SFX, said: “We have had a very productive relationship with Sigma over a number of years. This latest investment comes at a time when SFX is making significant commercial progress and will enable the company to further accelerate the exploitation of its technology”
ENDS
ENQUIRIES:
Sigma Capital Group plc
Mark Hogarth, Investment Director
Tel: 0131 220 9444
Buchanan Communications
Isabel Podda
Tel: 020 7466 5000
Arbuthnot Securities
Alasdair Younie
Tel: 020 7012 2000