Warwick Acoustics secures further £2 million funding from Mercia

By Nicky Godding

15 March 2024

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Leading designer of high-end audio systemsr Warwick Acoustics, which is based at MIRA Technology Park in Nuneaton, has secured £2 million from regionally focused specialist asset manager Mercia Asset Management as part of an £6.9 million syndicated funding round. The funding round will support the further scaling of its production capacity following the securing of its first original equipment manufacturer commercial contract, as well as ongoing R&D to build on its well established competitive position. Mercia's fully diluted direct stake now becomes 36.5 per cent.

Dr Mark Payton, CEO of Mercia Asset Management PLC, said: "We continue to be encouraged by the overall development of our direct investment portfolio. A number of the companies in our portfolio are maturing as they scale the commercial applications of their underlying IP. Furthermore, the syndicated nature of these funding rounds, where nearly 80 per cent of the investment funding is coming from outside of Mercia's balance sheet, reflects the confidence of the wider venture community in these companies.

"Our significant liquidity means that we are able to continue selectively supporting the existing portfolio's growth ambitions, with or without additional syndicated co-investment."

By Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.