An Edinburgh-based start-up whose technology helps police investigators to find evidence faster has secured a £1.3 million injection from a consortium of investors.
The funding will support Cyan Forensics’ expansion and allow it to target new markets in Northern Europe. It follows its recent contract with the Home Office, which will see the technology being used by the Child Abuse Image Database and rolled out to police forces nationally.
The latest funding has come from Triple Point Investment Management, Mercia, SIS Ventures, the Scottish Investment Bank and private investors.
A spin-out from Edinburgh Napier University, Cyan Forensics was founded in 2016 by Bruce Ramsay, a former police forensic analyst and now the company’s chief technology officer, and Ian Stevenson, its chief executive.
Stevenson said: “We’re excited to have raised the funds which will now allow Cyan Forensics to deliver the next stage in our significant growth plan. We’re grateful to our existing investors for their continued confidence and support, and delighted to welcome the new investors joining us on this journey.”
Rob Halliday, fund manager with SIS Ventures, added: “Cyan Forensics’ mission is to deliver scalable technology to help law enforcement, social media and cloud companies detect, block and restrict distribution of harmful digital content and protect vulnerable groups. The business is extraordinarily well positioned for significant growth and impact creation over the next 18 months and SIS Ventures is looking forward to sharing and supporting that journey.”
Last November, Cyan closed a £900,000 investment round led by Mercia Fund Managers.