Digislide, an Australian company that specialises in miniature projection technologies for mobile devices, laptops and digital cameras, has just secured $18 million in funding from a London based investment company.
According to a release issued by the company on Friday, Digislide Holdings Limited has tapped into international money markets and secured $18 million in capital investment commitments from GEM Global Yield Fund Limited.
This equity placement is set to help accelerate the domestic and international potential of Digislide’s products. Luceille Outhred, Digislide CEO, commented on the news.
“The investment from GEM puts us in a much stronger position to negotiate with global brands and ensures our product innovation meets the demands of a rapidly changing market place,” said Outhred.
“We’ve always positioned Digislide as a global company and this investment will enable a rapid response if current negotiations in the Silicon Valley, Asia and Europe come to fruition.”
Alvin Donovan, executive director of The FMS Group, who managed and facilitated the Digislide/GEM agreement, discussed the future of the company.
”We respected the fact that Digislide were committed and brave enough to list when most companies retreated,” said Donovan.
“We see enormous global potential and this capital positions them perfectly to take a strong lead in the international commercialisation of miniature projection.”
Under the terms of the GEM Equity Line Facility Agreement (EF), $18 million in investment funding will be provided over three years and Digislide can decide how much they draw and the timing of the draws.