Asset intelligence company Archer Knight has completed a £500,000 equity raise.
Assisted by M&A and financing experts Gneiss Energy, Archer Knight secured the funds from 22 industry investors throughout the global subsea hubs.
The Aberdeen based firm will use the capital to help grow its overall service offering and launch their market intelligence software platforms and applications throughout the subsea energy sector.
The company recently appointed oil & gas industry expert John Scrimgeour as non-executive chairman and aim to further strengthen the board now the raise is complete. Scrimgeour will also be investing in the company.
“This raise was about more than investment,” said Mike Watson, co-founder and executive director. “We now have a strong group of experienced investors who are well networked globally and have an exceptional industry knowledge. Our plan has always been to demonstrate proof of concept in the UK market and then expand our reach internationally as soon as possible. This raise ensures we now have the liquidity to deliver.”
The company will be recruiting for 10 new positions immediately to support the launch of its software platforms.