Deal Round-up 20/11/01

Swedish broadband infrastructure company takes E641,000 funding

Repeat-IT, a Swedish developer of Wireless Internet Last Mile Access (WILMA) systems for broadband operators, has secured E641,000 second round funding. The round was co-led by VCs Ledstiernan and Mobile Garden. A Brand New World, the company’s main shareholder did not participate in the round.

The money raised will be used to develop sales and delivery efforts of its system, which consists of a base station, terminal and operational monitoring software.

UK fund management firm secures £1.6m funding

Strategic Investment Management (SIM) has secured £1.6m from a consortium of investors including Sigma Technology and the Bank of Scotland corporate banking. This round takes the company’s total financing to £1.75m. Sigma’s £242,000 injection takes its stake in the company to 37.6 per cent, while the Bank of Scotland corporate banking has invested £750,000 for a minority stake.

SIM plans to offer a range of niche investments initially in property fund investment and fund management. The property fund will concentrate on institutional grade commercial property deals.