Public safety and security software company Halo has secured further equity funding through UK investment crowdfunding platform Crowdcube.
This brings the valuation of the crowd safety and security operations technology platform, which was used at the Coronation of Charles III and the State Funeral of Her Majesty Queen Elizabeth, to £10 million.
Nottingham-based Halo recently won a King's Award for Innovation Enterprise and its first crowdfunded investment call was oversubscribed, achieving 198% of its target amount to be raised. Halo Solutions secured a total of £489,610 from 188 equity investors on the Crowdcube trading platform, bringing the company's total number of investors to 220.
Birmingham-based venture capital firm Midven, one of Halo's lead investment partners, has also stepped up to further invest in the technology company to support its global growth and expansion.
The crowd safety and threat management platform currently protects an average of over 3 million people per day.
The system is used to ensure crowd safety and security at some of the world's largest and most prestigious events, venues and stadiums, including the Eurovision Song Contest, FIFA World Cup Fanzones in Qatar, Miami F1 Grand Prix, British Grand Prix at Silverstone and Moto GP, and has also protected fans at some of the UK's biggest festivals, from Notting Hill Carnival and Glastonbury to the Edinburgh Military Tattoo.
Halo Solutions, which currently employs 16 people, was founded in 2018 by CEO Lloyd Major, a former national counter-terrorism police officer and crowd safety and event security advisor with more than 20 years’ policing experience.
Lloyd Major, founder and CEO of Halo Solutions, said: “This funding will enable us to continue funding the development of our software with more customer-driven features, while also helping to fund marketing campaigns into new geographies and strengthen our global expansion into the US, Europe and the Middle East.”
The company has a presence in the Middle East and has worked with leading event safety and promoters Safe Events Global, JAM Events (Safety Division) and MDLBEAST. The company has been involved in events in the region such as Al Bidda Park Qatar 2022 FIFA World Cup Fanzone, Saudi Arabian Grand Prix and the Saudi Arabian Grand Prix After-Concert.
Surjit Kooner, Investment Director at Midven, said: “Midven, a division of Future Planet Capital, is pleased to further support Halo Solutions in its latest funding round. The progress Halo has made to date is testament to the dedication of Lloyd and the entire team. The funds raised will play a pivotal role in the next phase of Halo's growth, enabling it to expand the product range of its life-saving cloud and security software, enter new territories and strengthen its marketing efforts.”
