E4 million first round for KAL

The niche Scottish software house has proven that early stage technology companies can still win funds.

The Edinburgh-based software company specialises in asynchronous transfer mode (ATM) applications and today announced first round funding from an investor group co-led by Royal Bank Ventures and Scottish Equity Partners (SEP). Other investors included CA Nominees. The percentage stake taken in the company was not revealed.

The company said the E4 million financing would be used for sales, marketing, and for establishing its U.S. office. Kal was founded in 1998 and besides its Edinburgh headquarters and new U.S. office, it also has offices in Australia and Japan.