Horizon Technology Finance provided a $20 million venture loan facility to Viken Detection, of which $10 million was initially funded.
Viken has developed a variety of 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. The company will use the loan proceeds for general growth and working capital purposes.
“Viken’s cutting-edge technology provides law enforcement with crucial new devices that are making a major difference in keeping the public safe from threats,” Gerald A. Michaud, president of Horizon Technology Finance, said. “Their powerful scanning tools give officials the capability to quickly and comprehensively search the entirety of any vehicle and cargo for contraband and hazardous materials. We are pleased to support Viken’s continued growth.”
“We are excited to receive Horizon’s support as we continue to broaden our worldwide support of law enforcement and military communities,” Jim Ryan, CEO of Viken, said. “Viken’s world-class product suite considerably enhances the ability of law enforcement and military professionals to detect potential threats and hazards. With Horizon’s financial backing, we look forward to developing new and advanced solutions to further improve global security.”
