EoLogic secures £400,000 new funding

SCOTTISH software firm eoLogic has secured more than £400,000 in fresh funding.

The group plans to use the cash injection to help recruit software engineers and ramp up sales support activity for its eoSense product.

Some £300,000 of funding is being provided by Archangel Informal Investment with a £104,000 grant from the Scottish Executive's SPUR support scheme.

Founded in 2003 and based in the Alba Innovation Centre in Livingston, eoLogic provides software tools that reduce the cost of tracking down problems in enterprise software systems.

Archangel chief executive John Waddell said: "Archangel investors were keen to invest in this business and we very much look forward to supporting the management team in its development."

Andy McNab, director of SE's high growth start-up unit, said: "EoLogic has very exciting technology and we are very pleased that the company has secured investment to take the product to market."