(Alliance News) - Asimilar Group PLC on Thursday said its subsidiary Intrinsic Capital Jersey Ltd has invested a further GBP250,000 into SeeQuestor Ltd.
SeeQuestor is a cyber security, facial recognition and video analytics software company.
In February, Asimilar made a GBP470,180 investment in SeeQuestor. This was followed by Intrinsic Capital investing GBP250,000 in November.
Following the further GBP250,000 investment in December, Asimilar and its subsidiaries will own 80,802 shares in SeeQuestor, representing around a 7.7% stake.
"We are excited to have made this further investment in SeeQuestor as part of the current funding round, in pursuit of our investing policy and to have secured warrant coverage for this and our previous investment. We continue to believe SeeQuestor is at the forefront of cyber security, facial recognition and video analytics software and has all the hallmarks of becoming a market leading company in that sector," said Asimilar Chair John Taylor.
Shares in Asimilar were trading 6.3% higher at 31.34 pence each on Thursday morning in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.