News

EnQii receives another $3 million in digital signage funding

January 20, 2009

LONDON — EnQii, a global digital out-of-home media services provider, secured a $3 million financing facility from Silicon Valley Bank, a financial institution serving clients in the technology and life sciences industries. This brings the funding raised by EnQii in the last few months to over $20 million. EnQii will use the funds to pursue strategic opportunities and continue to develop innovative products for the digital out of home market.

"The EnQii team has great respect in its industry and is well positioned to lead the fast-growing digital signage solutions market," said Andrew Tsao of Silicon Valley Bank's affiliate in London. "We are pleased to be able to provide additional financial resources for EnQii to continue to grow and expand its product offerings."

EnQii has offices in New York, Toronto, London, Hong Kong and Shanghai, servicing thousands of locations across more than 14 countries.

"Silicon Valley Bank recognizes the enormous potential that our solution offers and has chosen to invest in our future with this financing and help us continue our rapid growth," said Ajay Chowdhury, EnQii's CEO. "We now have a US-based firm joining our consortium and this will help EnQii achieve its vision and ensure ample capital reserves to capitalize on opportunities afforded by today's economic environment."