It is reassuring to see increased investment into technology businesses. Recently, we have seen technology/digital businesses struggle when it comes to finding funding because they don't always have a tangible 'product' to show to investors.
Because of the nature of this ever evolving industry, it can be said that investors have previously avoided getting involvement. There are a number of reasons for this, including a lack of expertise on their part, or a concern that the business/product may not be sustainable.
We are now seeing specialist investors, with the right backgrounds and experience, along with founders who are resilient and adaptable to changes in their industry and wider environment.
In addition, organisations such as Tech North are encouraging those on both sides of the debate to come together to promote business growth, and this has been particularly demonstrated through their Angel Investor Initiative which is allowing founders the opportunity to speak directly to potential investors.
Manchester software business Intechnica has received a £3.5m investment to help fund its battle against non-human website traffic. Intechnica is a rapidly growing business which provides scalable software solutions to manage high and variable website traffic demand, including the removal of unwanted traffic from bots, crawlers and spiders. Mercia’s investment is part of a £5m funding round alongside existing private investors and takes the group’s direct shareholding to 24.3%. The round includes a £1.3m convertible loan facility which is also being provided by Mercia. This facility is subject to the achievement of certain future performance milestones by Intechnica. This investment will enable Intechnica to scale its TrafficDefender product suite.