Scottish Investment Bank backs Edinburgh Napier University spinout Zonefox.
Zonefox, a UK-based security software developer, has raised £650,000 ($992,000) from a consortium including Scottish Investment Bank (SIB).
SIB is the investment arm of Scottish Enterprise, a non-departmental public body created by the Scottish government in 1990. It was joined in investing in Zonefox by angel investment group Archangels and angel investor TriCap.
Zonefox’s technology can be used by companies to monitor their data security and protect against malicious and accidental data breaches. The company is a spinout from Edinburgh Napier University.
The funding will be used by Zonefox to increase the scale of its operations.
Jamie Graves, chief executive of Zonefox, said: “We have successfully rolled out our product to a number of key customers and this funding will allow us to scale our operations as we seek to achieve our high growth revenue goals.
“Our shareholders have been very supportive. They get where we are and the different stages we have been through and they have backed us all the way.”
– This article was first published on our sister site Global Government Venturing.
