Touch Bionics, Livingston, Scotland, has received a £2.5 million (US $3.8 million) funding package from Clydesdale Bank to help boost the company’s international expansion. Clydesdale said the funding, which is part of its “investing for growth” initiative, will come through a mixture of loans and facilities to extend the company’s working capital.
“This new funding will help us meet our ambitious goals as we continue to grow the business in 2011,” Touch Bionics CEO Stuart Mead was quoted as saying in The Scotsman. “It’s positive to see banks are starting to lend to high-growth companies again.”
Clydesdale Director of corporate and structured finance Graeme Sands said, “Touch Bionics has an excellent reputation within the technology sector. We are delighted to support this latest stage of the company’s development.”
