Johnsons Advises on £2M Investment in Food Fraud Technology Firm

Johnson’s corporate and commercial team, led by Partner Rhys Jones, was delighted to advise Advanced Research Cryptography Limited (trading as Arc-net) on a £2m investment by Dr Richard Steeves, founder of Synergy Health. Following the sale of Synergy Health to Steris for almost $2bn, Dr Steeves began to invest in a number of early stage companies in a wide range of sectors.

Kieran Kelly founded Arc-net in 2014 which now employs 20 people in its three main offices in Belfast, Banbridge and Edinburgh. Specialising mainly in food chain traceability and analytics, it seeks to trace food from creation through to consumption via the use of DNA samples and encryption technology.

Arc-net’s main objective is the elimination of concerns regarding food fraud which costs the industry in excess of £31bn a year. The firm seeks to increase visibility across the entire supply chain, using Blockchain technology to ensure authenticity and quality.

The investment in Arc-net rounded off a busy year that saw Johnsons complete its highest ever number of M&A transactions in a 12 month period.

We wish Arc-net well in its continued success.

 

Feb, 07, 2017

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