Horizon Technology Finance Corporation (NASDAQ: HRZN) provided a $20m venture loan facility to Viken Detection Corp., a Boston, Massachusetts-based provider of security imaging and material identification solutions, of which $10m has been initially funded.
The company will use the loan proceeds for general growth and working capital purposes.
The company intends to use the funds to develop new solutions to further improve global security.
Led by Jim Ryan, Chief Executive Officer, Viken has developed a variety of innovative X-ray and detection products that are utilized by various law enforcement agencies for the purposes of security, public safety and counterintelligence. Its flagship products, the NIGHTHAWK-BTX™, a handheld imager, and the OSPREY-UVX™, a full-vehicle scanner installed beneath roads, scan vehicle traffic at the U.S.-Mexico border, among other critical checkpoints. Viken recently launched its latest product, FOXHOUND-HNA™, which enables law enforcement to detect trace elements of contraband in the field.
FinSMEs
12/06/2023