Selatra to raise €1m in capital

A CORK company that develops advanced games for mobile phones plans to raise €1 million in venture capital to fund its expansion, delegates at a major technology investment conference in Dublin heard yesterday.

Selatra chief executive Sean Cronin said the business was well placed to attract funding and strengthen its presence in Europe, Asia, Australia and America.

Mr Cronin said the venture capital market had been difficult during the past year but saw positive signs for the future. The company, which was founded in 2002 and employs 11 people at the city’s Lough Mahon business park, recently won an award for best business opportunity from the Genesis Enterprise Programme, a business development initiative supported by Enterprise Ireland, Údarás na Gaeltachta and third-level colleges in the south and west of the country.