Touchcorp feels the hand of investment

Electronic services delivery company Touchcorp will remain an unlisted public company after successfully raising $14 million.

The company plans to expand its retail delivery network and fund further system development over the next 18 months.

The capital injection by J B Were and Sons validates the company's long-term strategy, according to Touchcorp chairman John Calvert-Jones.

"Touchcorp's foundation shareholders have invested heavily in software and product development over the past six years against a vision of establishing a national electronic delivery network that provides real-time access to online and offline products and services," he said in a statement.

The company, which works with vendors such as Citylink and Optus, also plans to add new vendor products and services to strengthen the products' consumer appeal.

Calvert-Jones said that order fulfilment was one of the biggest challenges facing online retailers and e-commerce providers.

"If electronic products and services could be delivered in real time at the user interface level then a major barrier to online retailing would be removed."Touchcorp has already implemented systems as part of a joint enterprise with Shell Australia, rolling out 50 Shell Touch machines in Victoria six weeks ago.