Sir Terry Leah, the former Tesco CEO, has led a £1.5m cash raising process for mobile voucher business, Eagle Eye Solutions, it was announced earlier this week.

Joined by city retail analysts Bill Currie and Iain McDonald, the former grocery boss has helped provide the funding which will allow the technology firm to further expand its team as well as consolidate and grow its retail partnerships.

Leahy said: “This is an exciting time to get on board with Eagle Eye Solutions, which has expanded its retail partnerships rapidly in recent months.

“The retail industry is waking up to the huge opportunities that mobile marketing represents and mobile coupons are a vital component.

“Eagle Eye is leading the way in this field and I look forward to playing a part in its positive impact on the market.”

This is the second investment made by Leahy in the retail technology business within a matter of weeks, following the announcement that he has invested £2m into online delivery management specialist Metapack to take a 10 per cent share of the firm.

The backing of Leahy was welcomed by Metapack’s CEO and co-founder Patrick Wall at the time, and CEO of Eagle Eye Solutions, Steve Rothwell has quickly identified the benefits of having Leahy on board.

“We are delighted to have secured the backing of such experienced and high profile figures within the industry,” Rothwell announced.

“Our technology empowers retailers with physical stores to use digital marketing techniques that have worked so well online in the last 15 years.

“This funding round will enable us to accelerate our progress and sign up more retailers more quickly than we could organically.”

Please note the views expressed in this blog are the views of the author, Andre Brown and do not represent the view of Locayta, its employees or its shareholders. For more information about Locayta, visit www.locayta.com