Business
Axia Investments Provides £5 Million Growth Loan
Axia Investments Provides £5 Million Growth Loan.
About this update from Cyanconnode Holdings Plc
[{"type":"text","content":"\n\n19 March 2025\n \nCyanConnode Holdings plc\n(\"CyanConnode\" or the \"Company\")\n \nAxia Investments Provides £5 Million Growth Loan\n \nCyanConnode Holdings PLC (AIM: CYAN), a global leader in narrowband Radio Frequency (\"RF\") smart mesh networks, is pleased to announce that its substantial shareholder Axia Investments Limited (\"Axia Investments\") is providing the Company with a £5 million unsecured loan to support near-term opportunities to grow the business. \n \nStrategic Rationale and Growth Acceleration\nThe Company's Indian subsidiary, DigiSmart Networks Private Limited (\"DigiSmart\"), qualified last year as an Advance Metering Infrastructure Service Provider (\"AMISP\"), positioning CyanConnode to bid directly for large-scale smart metering tenders in India.\n \nAMISP tenders require bidders to demonstrate access to upfront capital, and the funding from Axia Investments ensures that DigiSmart is well-prepared to participate in and secure these high-value contracts.\n \nThe loan, which the Company intends to draw down in full, is primarily in place to support current AMISP bids nearing completion, as well as to provide working capital.\n \nAxia Investments Ltd, a family office fund advised by Doxa Partners LLP commented:\n\"We are pleased to be able to support CyanConnode. We understand the importance of ensuring it has the capital to execute on the market opportunities before it. The Company's track record in India is impressive and the market opportunity is significant.\"\n \nJohn Cronin, Executive Chairman of CyanConnode, commented:\n\"The Indian smart metering market continues to gain momentum, and we are seeing a high level of activity. It's a pleasure to work with Axia, our major shareholder, who not only closely monitors the market but also has a deep understanding of our business and the opportunities ahead. The new capital will enable us to bid for, and hopefully win, near-term AMISP tenders while maintaining a strong balance sheet.\"\n \nLong-Term Financing and Growth Strategy\nIn addition to securing this loan, the Company is actively assessing a range of long-term financing options to support its accelerating growth and ensure CyanConnode maintains the financial flexibility to capitalise on increasing demand for its smart metering solutions whil...