Mercia Asset Management PLC (AIM:MERC) has announced a follow-on investment of £4 million in Netacea Group Limited.
The investment will be made in two tranches, £2 million now and a further investment expected in the next group’s next financial year.
Following the completion of this investment, Mercia will hold a 33.60% direct stake in Netacea, while its managed funds will retain an additional 26.90% equity share.
The funding is intended to enhance Netacea’s position as a provider of AI-driven software solutions to defend against bot attacks targeting mobile, web, and API applications. It will also support product expansion and continued growth, both in the UK and internationally.
"We are pleased to continue supporting Netacea's growth trajectory," chief executive Dr Mark Payton said in a statement.
“We have several investments in the cyber security sector, across both our direct investments and managed funds.
“These portfolio companies are addressing critical challenges across the security spectrum - from bot detection and threat intelligence to digital forensics and supply chain risk management. The sustained interest we are seeing in this sector validates our long-held investment thesis."