Westica Ltd, a leading supplier of digital transmission equipment, has successfully attracted an additional £1.3 million in equity funding. Westica’s main backers include The Generics Group, 3i, Scottish Equity Partners and Strathclyde Investment Fund. This round of finance follows £1.5 million of investment received last year and the initial funding secured during Westica’s start-up phase in 1998.
Established in 1994, with the express intent of providing advanced, point-to-point digital radio solutions, Westica now has a rapidly expanding blue-chip customer base and will use this substantial funding to assist the company in its aim to develop its operations internationally.
Commenting on the achievement, Westica’s CEO, Chris Burnett says, “We are delighted to have received this further vote of support from our institutional investors. The ground-breaking Westica product is used to build wireless telecommunications infrastructure and we would welcome further enquiries from global players and potential partner companies in this market. We are looking forward to a period of sustained growth and value-added to the business and I’m particularly pleased that this means growth in jobs and opportunity in western Scotland.”
This investment will also accelerate the further development of Westica’s feature-rich 1.4GHz Multirate Digital Radio System, which provides precise and reliable data communications as an alternative to landlines. This unique product is ideal for digital transmission in radio telecommunications networks, offering a range of digital interfaces compatible with network infrastructure equipment.
About Westica Ltd
Westica’s principal aim is to be a major strategic player in the emerging global telecommunications wireless infrastructure markets, through providing leading edge solutions backed by a world class quality and service culture. Support for this vision in the form of substantial institutional investment in recent years has accelerated the development of revolutionary technology leading to volume production and deployment of Westica’s Multirate radio product in the 1.4GHz band.
Further information is available from: http://www.westica.co.uk
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