ZeroLight secures international investment
ZeroLight has secured international investment.
The Newcastle tech firm has been backed by Amsterdam venture capitalist and growth financing firm Ponooc in a Series B round.
ZeroLight’s immersive tech is used by automotive companies around the world to show how cars can be configured as potential customers ponder the sales options.
Law firm Weightmans advised ZeroLight on the deal, which will allow the firm to expand its presence within the automotive sector and beyond.
CEO Darren Jobling said: “Duncan, Nick and the Weightmans team have supported us on a number of investment rounds, and the guidance they provided for this strategically important deal for ZeroLight was invaluable.
“Not only will the funding from Ponooc take ZeroLight through its next commercial growth phase, it will also help us to secure the required talent as we expand our global reach.”
Partner Duncan Reid managed the deal alongside corporate solicitor Nick Gray.
“ZeroLight’s international investment highlights the strength of the growing tech scene in the North East,” he said.
“The investment will enable ZeroLight to expand its innovative offering to major players on the global stage.
“We have a long-standing relationship with the team at ZeroLight and our experienced tech team are delighted to have been able to support ZeroLight on this latest deal.”