The corporate team at Thursfields Solicitors has advised a Malvern technology company on a significant investment.
Director and head of corporate Gareth Burge and solicitor Joe Rollins advised D-RisQ in negotiations leading to an investment of over £360,000 from the Midlands Engine Investment Fund (MEIF) Equity Finance Fund, managed by Birmingham venture capital firm Midven.
Gareth Burge said: “D-RisQ, founded in 2012, works in aerospace, autonomous systems, automotive and security sectors, specialising in the development of automated software tools designed to improve safety.”
The company was originally set up to develop a series of automatic verification tools to provide improvements in development efficiency while complying with safety requirements in a broad spectrum of industry sectors.
Gareth added: “This new funding stream will enable D-RisQ to bring forward its growth plans and undertake research to develop further its range of high-tech mathematically-based automated tools.”
The funds will also be invested in the company’s sales and marketing department and will result in an increase in jobs at its Malvern site over the next 18 months.
D-RisQ has a highly-experienced management team, led by Nick Tudor, Prof Colin O’Halloran and David Sheppard, who all have over 30 years’ experience in senior roles within the aerospace and defence sector.
The team initially worked together at DERA (later QinetiQ), the UK Defence Research organisation where they developed CLawZ®, a semi-automatic verification tool, which was applied to software on the Eurofighter to assure its safe operation.
Gareth said: “The investment in D-RisQ is the latest in a series of technology deals we have advised on, including deals involving cloudThing based in Belbroughton, and Smartbox Assistive Technology with operations in Malvern, Bristol and the US, and we have a growing specialism and reputation in this sector.”