The North West Fund backs Loksys

The North West Fund is jointly financed by the European Regional Development Fund and the European Investment Bank.

The fresh capital will allow Loksys to invest in further product development, increase its sales and marketing activities, and recruit additional staff for its worldwide support operations at Trafford Park.

Company
Loksys was set up by entrepreneurs Simon and Ian McDermott in Manchester in 2009 and has developed a new system for securing freight containers.

The brothers spent three years developing their patented security system Trakalok, which combines a tamper-proof lock with a GPS tracking system, enabling containers to be securely locked and monitored throughout their journey.

The system was designed to allow ease of fitting by container terminal staff across the world and to withstand a wide range of operating environments. Trakalok is used in Europe, South America and China.

People
Doug Stellman is an investment director at The North West Fund. As part of this round of funding, Terry Donovan has joined the board as chairman and Margaret Llewellyn OBE as a non-executive director.

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