Equity investment to accelerate growth at technology firm

TECHNOLOGY firm LightwaveRF has received further funding from one of its investors to enable it to further accelerate its growth strategy.

The company is the Internet of Things provider of the LightwaveRF platform and connected devices which lets users remotely monitor and control light, heat, power and security.

The £215,000 equity investment by Committed Capital Financial Services, which put in £1.1m last August, will be used to fund the company’s strategy of connecting to other Internet of Things platforms.

Steve Harris, chief executive of Committed Capital and LightwaveRF non-executive director, said: “The company has made strong progress since we first invested in enhancing LightwaveRF’s products, creating additional channels to market and developing sales opportunities.  We are delighted to have the opportunity to make this further investment.”

LightwaveRF yesterday announced a new deal, while in May it secured a £1.1m bank facility to help fund the expansion of its distribution footprint.