APRIL 10, 2007 -- Endeavour Ventures has announced the first close of a more than $1 million (£600,000) funding round for M2FX plc. Sourced from Endeavour Ventures' investor clients and a small institution, the money will be used to fund the sales globally of M2FX's range of Miniflex optical fiber protection, management, and installation products. The funding will allow the company to expand its sales operations as well as invest in the capital equipment necessary to deliver on its growing order book, according to Endeavour.
M2FX manufactures patented products designed to enable faster and easier fiber installation as well as reduce installation cost. M2FX has focused on fiber to the home (FTTH) applications across the US and Scandinavia.
M2FX Managing Director Tony Stockman comments, "The Miniflex solutions are generating a lot of interest in our key fiber deployment markets as potential customers see the business benefits of using our products. We now need to capitalize on that interest and this funding will enable us to push ahead with developing our sales activities worldwide and completion of the required regulatory approvals."
Having arranged the investment for Endeavour Ventures, Guy Macpherson-Grant says, "The investment will allow the company to deliver on its growing sales opportunities, especially in the FTTH market, leading to exciting growth in the business. Miniflex's unique product range and experienced management make this a company with compelling prospects."
Macpherson-Grant will join M2FX plc as a director and a shareholder.