6th Jul 2016 08:01
LONDON (Alliance News) - LightwaveRF PLC on Wednesday said it has raised around GBP215,000 of equity investment from Committed Capital Financial Services Ltd.
Lightwave makes devices for the so-called Internet of Things, which will allow householders to control devices such as lighting, power and heating remotely.
It said the funding will be used to further accelerate its strategy of connecting to other Internet of Things platforms.
Committed Capital first invested GBP1.1 million in Lightwave August 2015 and now holds a stake of more than 10%. The latest investment was at 12.75 pence per share for 1.7 million shares. Lightwave was untraded on Wednesday morning, last quoted at 12.00p.
"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," Committed Capital Chief Executive and Lightwave Non-Executive Director Steve Harris said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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