Titan IC Systems has secured an £850,000 investment boost from investors which it says will be used to support the company’s international sales plans.
The Queen’s University Belfast spin-out, which specialises in cybersecurity systems, accessed the investment from techstart NI and Co-FundNI, which is managed by Clarendon Fund Managers.
Techstart NI is a £23.6 million initiative, managed by Pentech Ventures, which backs early-stage technology businesses and university spin-outs, while Co-Fund NI is a £28 million equity fund that co-invests with angel and private investors. Both funds were established by Invest NI.
Titan IC Systems also won financial support from existing investor QUBIS, the Queen’s start-up company, and angel investors who have not been identified.
The spin-out recently launched next-generation technology which it hopes will transform the cybersecurity industry.
Godfrey Gaston, chief executive of Titan IC, said the latest financial backing would enable it to grow both its business and invest further in product development.
