2PM Technologies secures € 3.3m funding from ICC Venture Capital
Wireless technology company 2PM Technologies today announced it has secured € 3.3m to fund the final stages of development and launch of its flagship product. The announcement marks the completion of 2PM’s first round of funding.
The Athlone-based company has secured the funding from ICC Venture Capital, Ireland’s largest venture capitalist. The capital will be used to fine-tune the application - an intelligent email-to-mobile-phone system - and to bring the product to market in the UK. The company is also backed by entrepreneur Gilbert Little, who has already succeeded in the mobile arena having made significant returns from his involvement in Aldiscon, now owned by Logica, and Apion, bought by Phone.com.
The company is the brainchild of Chris Armstrong, CEO, and Neil Breckell, a former Royal Navy Radar and Command systems engineer who is applying 16 years of military experience and seven years of commercial research to develop the new wireless product. The company is chaired by Larry Quinn, who is also chairman of Logica Mobile Networks.
ICC Venture Capital’s investment, which comes from its Private Equity Fund, totals €3.3m. ICC Venture Capital’s shareholding in 2PM values the company at €16.5m.
