FIFE, Scotland - Sigma Technology Venture Fund and the Scottish Co-Investment Fund, which is managed by Scottish Enterprise, have invested £1 million (U.S. $1.7 million) in ATM advertising and screen interface design company i-design. According to a news release, the funding marks the latest phase of an ongoing development plan, which included an initial investment from Sigma in November 2004.
"We are delighted that Sigma has continued to support the company as lead investor in this round, and we are pleased to welcome the Scottish Co-investment Fund onboard as a new investor," said Ana Stewart, i-design's managing director. "This second round of funding will enable us to capitalize on the increasing demand for ATM:ad, both in the U.K. and across Europe. In addition, it will allow us to accelerate the expansion of our media sales operation in London."
iATM:ad is i-design's end-to-end ATM advertising solution, which allows financial institutions and other ATM owners to deliver marketing and advertising campaigns on their networks. iATM:ad is recognized as market leader in its field.
The ATM:ad Media Sales arm, which is solely dedicated to selling ATM advertising, has been generating significant commercial advertising revenues for clients since June 2004.
