Octopus invests GBP2m into KeTech Group
Summary
Octopus GBP2m equity funding leads a GBP4.5m refinancing round, which also includes GBP2.5m of invoice discounting from Centric Commercial Finance. It will provide KeTech with the capital required to expand its new business development pipeline and service new contract wins. KeTech provides mission critical communication software and services to the rail industry, including platform-to-train and on-train safety systems. Secretary of State Lord Mandelson says: Ambitious and innovative businesses like this are the lifeblood of the economy but tough credit conditions can make it difficult for them to invest in their future. KeTech is an exciting company with a unique range of products and services that support both key domestic infrastructure projects and export markets.
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