Stacuity, the island-headquartered software-as-a-service company, has announced the successful closure of its multi-million pound Series A funding round.

The investment round was spearheaded by Amigos Venture Capital, a boutique investment firm renowned for specialising in strategic investments within the telecom sector, alongside a consortium of prominent global investors.

This firm say the funding will help it fund further innovation and expand its market presence globally.

A spokesperson for the firm added: ‘This significant funding milestone underscores strong investor confidence in Stacuity’s ground-breaking approach to connectivity, particularly its commitment to enhancing IoT and enterprise data services through its pioneering “Edge” strategy.’

Stacuity was founded in 2020 by a local team made up of Mike Bromwich (chief technology officer), Chris Hall (chair), Roberta Castle (chief security officer) and UK-based Tim Dowling (chief commercial officer).

All have an impressive proven track record in building and scaling successful telecoms businesses. The bulk of the Stacuity team and a number of investor shareholders are based here in the island.

Mr Bromwich commented: ‘This investment marks both an exciting and pivotal moment for Stacuity, enabling us to take significant steps forward in reshaping the landscape of mobile connectivity.

‘We are now poised to rapidly scale our global operations, expand our talented team and accelerate deployment of Stacuity’s global network of managed edge locations.’

Amigos Venture Capital managing partner, Mattias Rejman, said: ‘We are delighted to lead this investment round for Stacuity.

‘The team has demonstrated exceptional vision and technical capability, positioning the company at the forefront of next-generation telecoms innovation.’

Douglas law firm Keystone Law Isle of Man, led by corporate lawyer Stephen Rodd, advised Stacuity on all legal aspects of its Series A investment.