Bristol firm receives £2m additional funding to accelerate growth
BOXARR, the world’s leading provider of Interdependent Systems Management (ISM) software, has announced that it has received additional investment of £2 million which will be used to accelerate growth in the aerospace and defence industries.
The funding, which is being provided by existing shareholder IP Group plc and new investor Parkwalk, means that BOXARR can significantly accelerate its growth plans.
This will enable extended geographical reach as well as advances in product functionality to meet new customer requirements while enhancing service and support for all customers.
BOXARR will remain focussed on the aerospace and defence sector where its solutions are already embedded and delivering value in manufacturers such as Airbus, Boeing, Raytheon, Rolls Royce, Siemens, and the US Navy.
Alasdair Pettigrew, Chief Executive of BOXARR Ltd, comments: “BOXARR has been successful because we are the only solution that really works for vastly complex aerospace and defence projects.
“There are enormous opportunities for growth and this new investment will help us to realise our plans. It is particularly pleasing that IP Group has added funds and we are delighted to welcome Parkwalk as a shareholder.”
BOXARR has a been a memebr of the Bristol SETsquared Centre both since it was on the University of Bristol precinct and before re-locating to Engine Shed in Bristol’s Temple Quarter Enterorise Zone.
Nick Sturge, director of the Bristol SETsquared Centre, comments: “Boxarr is one of truly global companies – with a customer list many other companies aspire to. We are delighted that Alasdair and the team at Boxarr have secured this funding and we look forward to their being a part pf their continued growth.”