Splashpower Raises Venture Capital

December 26, 2002 by Jeff Shepard

Splashpower Ltd. (Cambridge, UK) announced that it has raised additional venture capital provided by PALLMALL Technology Ventures (Cambridge, UK). Funding will primarily be utilized for the expansion of the company’s sales and marketing efforts.

"The closing of this round of funding - in a challenging market for early stage financing demonstrates that Splashpower has the right blend of technology leadership and management expertise to bring our customers the best solution for their next-generation products," said John Halfpenny, CEO of Splashpower. "We are delighted to be partnered with PALLMALL Technology Ventures, as they have demonstrated tremendous enthusiasm for our company, vision and technology and have offered significant expertise in a wide range of areas they have proven to be an ideal partner for us to work with and we look forward to our continued involvement with them and our other investors."