Monday 17th September 2007

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Funding for LastMile

LastMile Communications, a provider of wireless technology, has generated £4.1 million during its third round of fundraising. The total raised so far is £10.5 million.
Funding has been secured from a total of 195 private investors, including international defence and security technology company QinetiQ and a number of hedge funds. A further £6.4 million loan was secured from a technology partner.

The money will be used to broaden its range of wireless offerings, such as with local councils, and tap new markets, particularly North America.

At present, the company’s share valuation stands at £28 million.

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