The mobile technology company will use the funds to support its product development and international expansion.
Arnlea’s technology assists oil and gas companies with asset management, in particular equipment and materials tracking and inspection.
The firm said that the company is benefiting from growth in asset security, health & safety, environmental concerns and a tightening of compliance and regulation post the Macondo oil spill.
NVM director Mauro Biagioni said, “(Managing director Allan Merritt) and the team delivered significant growth in 2013, more than doubling the group’s revenues. This demonstrates the capability of the team to take their business forward to the next stage, and we look forward to supporting them on this journey.”
Copyright © 2014 AltAssets