Ciqual, the Edinburgh based telecoms company, said yesterday that it has landed investment worth £1.25m that will help it speed up product development and sales in global markets and increase the number of full-time jobs to 20.
Ciqual, the Edinburgh based telecoms company, said yesterday that it has landed investment worth £1.25m that will help it speed up product development and sales in global markets and increase the number of full-time jobs to 20.
A consortium consisting of Par Syndicate and Scottish Enterprise's Scottish Co-investment Fund provided the money.
A spokesman for Ciqual said the company has a staff of 12 and expects to raise employee numbers to 20 soon.
Ciqual works directly with mobile operators in western Europe and through service partners for the rest of the world. Ciqual's Session Insight System delivers data on mobile broadband service and user experience that enables mobile operators to offer an enhanced service to their customers.
Tom Walls, Ciqual's founder and chief executive, said: "We are delighted to be working with Par Equity and Scottish Enterprise. As Lord Carter highlighted in his recent report on Digital Britain, broadband communications are a crucial infrastructure component for a modern economy.
"At Ciqual, we focus on improving the service performance and experience each of us will have of our mobile broadband connections."
Paul Atkinson, partner at Par Equity, stated: "I am delighted that we have completed this investment and excited to be working with an innovative local com- pany with huge growth potential. Ciqual is already delivering a world-class system to global customers and with this investment we believe that Ciqual can accelerate the expansion of its business."
Par Equity was formed in May 2008 with the objective of developing a platform where young companies can gain access both to finance and to the knowledge of highly-successful business leaders.
"We're delighted to see Par Syndicate making its first investment in Scotland, said David Grahame, executive director of LINC, Scotland's Business Angel Capital Investment Association.
"Par's contribution to this new round of capital into Ciqual shows once again that despite the current economic challenges, business angels are still supporting innovative technology companies across Scotland."
He added: "It is vital for Scotland's economic prospects that these firms have access to additional capital through the business angel network."
Campbell Murray of Scottish Enterprise said: "To grow in today's competitive landscape, vibrant companies need access to investment and as Scotland's enterprise, innovation and investment agency we are delighted to support Ciqual. We see tremendous potential in Ciqual to dominate their field at a global level, building mobile telecoms excellence through attracting and retaining local, high-calibre talent.
"Ciqual is led by a dedicated team with many years mobile telecoms expertise who have the determination and skills to succeed."
The company, which was founded in 2007, said it received key support from the high-growth start up team at Scottish Enterprise, Scottish Development International and the Wireless Innovation Centre, Scotland's national initiative for wireless and mobile technologies. Business advisory support was provided by Alba Innovation Centre, where Ciqual has its headquarters.














