The funding round was also supported by chairman, John O’ Connell, CEO of Helveta, Karim Peer as well as existing investors, Albion Ventures, the Carbon Trust, Oxford Capital Partners and Succès Europe.
Peer said, ‘The funding increases Helveta’s working capital reserves to drive continued growth of our traceability technology in the forestry sector as well as new markets, such as biofuels, where we are seeing significant demand for transparency and traceability through the chain of custody as a result of powerful regulatory, economic and certification drivers’.
O’Connell, chairman of Helveta, added, ‘This latest funding round demonstrates the confidence and opportunity that the institutional investors and myself recognise in Helveta’s new strategy and new management team, led by Karim Peer.’
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