Datalex is a provider of digital retail technology to the airline industry. Datalex's strategy is to drive accelerated and sustainable growth by creating market-leading products that enable airlines to grow revenue and profit as digital retailers, driven by the Group’s SaaS product strategy and business model. Of the €25m raised, €14.7m was raised by way of a cornerstone placing (which was supported by certain key shareholders in the Company including IIU Nominees, a company owned by Dermot Desmond), €4.2m by way of a firm placing and a further €6.1m by way of a placing and open offer. The net proceeds raised are to be used to repay debt of €16m with the balance for the funding of working capital to support the implementation of new revenue opportunities and an acceleration of the Company’s investment in its product roadmap.