Cheltenham-based Top 200 law firm BPE Solicitors has acted for London-based location data intelligence company, Location Sciences Group, helping them to raise £2.95million through an equity share offering on the AIM stock market.
Location Sciences specialise in providing mobile location intelligence technologies and solutions. The company use Artificial Intelligence (AI) and machine learning technology to ensure accurate location software for apps and advertisements, enabling advertisers to address their intended audience, prevent ad fraud and guarantee brand safety.
Location Sciences Group has now raised £3.36million over the last year, putting the majority of the proceeds towards bringing their product to the global market, particularly in the US.
Led by Senior Partner, John Workman and Senior Associate, Louise Grzasko, BPE’s Corporate team advised Location Sciences Group on the open offer to fundraise through placing and subscription of shares.
Commenting on the deal, John said: “It’s always fascinating to work with genuinely innovative fast growth businesses, especially one that is entrepreneurial with ambition and drive. Our experienced team has been able to help this company get one stage closerto achieving their goal.”
David Rae, Finance Director of Location Sciences, said: “BPE has been invaluable in enabling us to take our product to the global market. Their straight-forward, clear advice gives us the confidence we need to see business ventures such as fundraising turn into a success. We can now push on with developing our business into a cutting-edge solutions provider across the globe.”