KeTech, a Nottingham, UK-based provider of rail communication systems and security products, received £5m in funding.
The investment was made by YFM Equity Partners’ advised funds British Smaller Companies VCTs and YFM Equity Partners 2015 Co-investment Fund. As part of the deal, Richard Moon, currently non-executive Chairman of Seven Technologies (a YFM Equity Partners portfolio company), is joining as Chairman.
The company intends to use the funds to grow in the UK growth and expand internationally.
Founded in 1999 and led by Steve Berg, CEO, Mike Tebbutt, CFO and Denise Lawrenson, MD (Rail), KeTech specializes in communication, information and detection technologies working across a range of vertical markets including transport, industrial, security, public sector and detection.
The company currently employs 65 staff across its Nottingham head office, in Preston and London.
It is currently working on a £7.2m contract to provide on train driver information systems for Bombardier/Crossrail. KeTech has also secured recent contracts from the UK Ministry of Defence, Japan’s Ministry of Defence, London Underground, Northern Rail, Thales, the German Federal Police, and Gatwick Airport.