25 Sep 2006

ICON secures £2m funding for Homeland Security company

ICON advised Radiation Watch on the completion of a £2m funding round from Seven Spires Investments and a number of seasoned semiconductor private investors. ICON had previously closed a £450k seed investment round in the company from Seven Spires in April 2004.

Radiation Watch will use the additional funding to complete development of its revolutionary radiation detection technology “D3™”, which provides real time spectroscopic detection of radiation sources and the identification of isotopes.

The technology has applications in a wide range of markets, including Health Physics, Defence, Environmental Monitoring and Instrumentation, but in particular has really created excitement for those involved in Homeland Security initiatives around the world.