First round of funding closed

Venture capitalist has announced the successful first close of over US $1 million funding for M2FX plc.

Endeavour Ventures has announced the successful first close of over US $1 million funding for M2FX plc.

Sourced from Endeavour Ventures's investor clients and a small institution, the investment will be used to fund the sales globally of M2FX's range of Miniflex optical fibre protection, management and installation solutions.

With growing interest in its patented products, the funding will allow the company to expand its sales operations as well as invest in the capital equipment necessary to deliver on its growing order book.

M2FX manufactures patented products that allow faster and easier fibre installation, and reduce the cost of that installation.

The Miniflex technology means that the company's products and installation solutions provide a competitive edge for its customers.

The growth market that the company is addressing is the roll out of optical fibre to the home (FTTH) across the US and Scandinavia.

This will allow communication companies to make the most of the vastly higher bandwidth capabilities of the optical fibre to deliver computer, TV and telephone direct to consumers' homes.

The Managing Director, Tony Stockman, comments: "The Miniflex solutions are generating a lot of interest in our key fibre deployment markets as potential customers see the business benefits of using our products".

"We now need to capitalise on that interest and this funding will enable us to push ahead with developing our sales activities worldwide and completion of the required regulatory approvals".

Arranging the investment for Endeavour Ventures, Guy Macpherson-Grant says: "The investment will allow the company to deliver on its growing sales opportunities, especially in the FTTH market, leading to exciting growth in the business".

"Miniflex's unique product range and experienced management make this a company with compelling prospects".

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