Cheltenham-based, Top 200 law firm BPE Solicitors has acted for London-based location data intelligence company, Location Sciences Group, in their second round of funding through placing shares and open offer, which raised £2.95million.
Location Sciences specialise in providing mobile location intelligence technologies and solutions. The company use AI and machine learning technology to ensure accurate location software for apps and advertisements, enabling advertisers to address their intended audience, prevent ad fraud and guarantee brand safety.
Location Sciences Group has now raised £3.36million over the last year, putting the majority of the proceeds towards bringing their product to the global market, particularly in the US.
Led by Senior Partner, John Workman and Senior Associate, Louise Grzasko, BPE’s Corporate team advised Location Sciences Group on the open offer to fundraise through placing of and subscription of shares.
Commenting on the deal, John said: “It’s always fascinating to work with genuinely innovative fast growth businesses. This is an entrepreneurial business with ambition and drive which is always exciting to work with! To act for Location Sciences is brilliant as our experienced team have been able to help this company get one stage closer to achieving their goal.”
David Rae, Finance Director of Location Sciences commented: “BPE have been invaluable in enabling us to take our product to the global market. Their straight-forward, clear advice gives us the confidence we need to see business ventures such as fundraising turn into a success. We can now push on with developing our business into a cutting-edge solutions provider across the globe.”