25 Apr 2005

ICON secures a further £2m funding for Homeland Security company

Radiation Watch has developed D3™, its unique radiation detection technology that offers spectroscopic measurement of radiation and highly accurate real-time information without dose saturation. The technology has applications in a wide range of markets including Health Physics, Defence and Environmental Monitoring, as well as showing significant potential in the growing Homeland Security sector.

The funding round was supported by Seven Spires and a small number of seasoned semiconductor private investors. ICON has previously secured a £2m funding round for the company with the same group of investors in March 2005, which followed an initial seed investment of £450k from Seven Spires in April 2004.

The new funding will be used to provide operational and sales support for the first wave of customers whilst continuing research and development work on new products.

"By Choosing ICON you will receive a level of deal expertise, personal commitment, know how and knowledge of the tech sector, unmatched by any other corporate finance firm"
Peter Doughty, CEO, Radiation Watch