- Type of finance
- Business need
Developing a tech venture
“We are now entering a significant growth phase. The fact we have attracted investment from existing investors, who have chosen to exercise their rights, as well as new investors acts as an endorsement of the progress we are making.”
Hut Six Security Ltd is a developer of software-based information security training products.
The company benefited from an initial seed-funding round in spring 2017. This was led by Sir Terry Matthews’ investment vehicle, Wesley Clover. The company has since progressed from start-up and is now in the process of scaling up.
In 2019 it raised £450,000 in a second equity funding round. Existing and new shareholders, including the Development Bank of Wales and a series of angel investors, participated in the round.
The funds raised will support the company’s domestic and overseas expansion through additional operational support, as well as increasing sales and marketing activity.