News
Warwick Acoustics completes £6.2m funding round
Mercia Asset Management PLC is pleased to announce its participation in a significant funding rounds for its direct investment portfolio company, Warwick Acoustics Limited.
This investment reflects the continued commercial progress of the company and the potential for its technologies. The funding round also underscore its ability to attract third-party co-investors.
Warwick Acoustics, which creates audio systems for the automotive and personal audio markets based on its superior sound quality and low energy technology, has secured £6.2million in new investment. This includes a direct investment of £1.0million, with the additional funding coming from Mercia’s Northern VCTs, third-party investors and other existing shareholders. This additional investment will be used to fit out their new R&D and assembly facility, together with funding working capital for automotive inventory build. Following this funding round, Mercia holds a fully diluted 31.7% direct investment in Warwick Acoustics.