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Tel: 01276 608513
Email: tom.clarke@thefsegroup.com

Enterprise M3 Growth Fund Investment for Pioneering Gas Management Technology

A company producing tools to monitor and manage gas pressure within gas distribution networks (GDNs) is the latest to receive funding from the Enterprise M3 (EM3) Growth Fund. Utonomy has been working with two of the UKs four GDN operating companies to develop a fit for purpose “Smart Grid” solution as there is currently no effective system available on the market.

The company has created its Active Grid Management solution, comprising relevant hardware (actuators and sensors), installed throughout the gas network, with a cloud-based software platform using self-learning algorithms to continually optimise the network remotely.

CEO Adam Kingdon, who established the company in 2015 after being approached with an opportunity to apply his experience in water pressure management to the gas distribution industry, outlines the problem:

“The demand for gas is influenced by time of day/week/year, weather conditions etc.; at its highest, demand can be up to 100 x greater than at its lowest. This means GDNs are managing an ever present conflict between a) ensuring gas pressure does not go below the minimum requirement at any given time and b) too much pressure resulting in system leaks, which is not only costly, but also has environmental implications – an area monitored by Ofgem. GDNs have found existing systems for managing pressure to be inadequate, resorting to labour intensive manual adjustments. A costly process, these adjustments take place only a handful of times throughout the year resulting in gas pressures being set to the incorrect level 99% of the time.”

Utonomy’s offering is unique on several levels: its actuator is able to operate in dangerous substance environments; its intelligent software will interpret the statistical relationship between weather temperatures, calendar fluctuations etc. and changes in pressure to generate accurate predictions for high and low pressure points; its hardware can monitor the ongoing condition of the network resulting in faster detection of mains breaks along with easier maintenance planning.

The £150,000 EM3 Growth Fund investment is part of a larger funding round that will see the company establish its international sales and marketing base in Basingstoke. The funding will help the business to further commercialise its offering and gain traction throughout Europe and in North America.

Ralph Singleton, Fund Manager at The FSE Group, which manages the EM3 Growth Fund on behalf of the Enterprise M3 Local Enterprise Partnership (LEP), comments: “Utonomy is responding to a clear market demand for a solution to real problems facing the gas distribution industry globally. The company’s strong technological background and extensive industry knowledge and contacts has allowed it to work directly with end clients to develop an innovative product that will fully meet their needs, offer a good ROI and help them deliver against environmental targets. We are pleased to be supporting them on this exciting journey to achieve their full potential.”

Geoff French, CBE, Chair of Enterprise M3 LEP adds:

“Enterprise M3 LEP area is home to a vibrant Sci-Tech corridor and this is due to a conscious collaborative effort creating the conditions for innovation to thrive. We are pleased that Utonomy now has the financial resource to expand, increase productivity, create more jobs and be part of our ecosystem of technological excellence.”

The Enterprise M3 Growth Fund is part of the Enterprise M3 Funding Escalator, a £5.5million initiative funded by Enterprise M3 Local Enterprise Partnership. The escalator, which also includes an expansion loan scheme, provides eligible companies with loans and equity funding between £50,000 and £200,000 for activities that will deliver high-growth and employment opportunities.

For more information about the Enterprise M3 Growth Fund please visit http://www.thefsegroup.com/fund/enterprise-m3-growth-fund/ or contact Ralph Singleton at ralph.singleton@thefsegroup.com tel: 01276 607307.

Music Video Creation Platform Completes Funding Round

The FSE Group are delighted to announce that Rotor Videos are the latest company to be supported by the Coast to Capital Growth Equity Fund. Rotor, a music technology platform focused on helping music artists create unique promotional videos have successfully closed their latest funding round, which also includes investment from Ascension Ventures and a number of Angel Investors.

Diarmuid Moloney, Rotor Videos CEO and Co-Founder, says: “We launched Rotor with the simple goal to give any artist, anywhere, the opportunity to easily create their own unique videos. With the rise of social media, video has become one of the most popular forms of communication. Social channels Snapchat and Instagram are the latest to embrace video content and artists now receive significantly increased engagement from fans if they showcase their work with videos. To date we have 50,000 using the platform and with this investment round we will be focusing strongly on our sales and marketing and start the development of the Rotor Mobile App.”

The video making process is seamless, with users logging onto the platform, uploading their song and choosing a video style template, they are then able to load their own clips or choose clips from Rotors extensive video library. It’s possible to create multiple versions of a video, including shortened videos with text and titles for promoting new releases, gigs or promotions. The software automatically edits and adds visual effects to video content by responding to features in an uploaded piece of music.

The platform is also aimed at the sales and promotional video market, with Rotor targeting music labels, promoters, venues and festivals. Users only pay for the video once they are happy with the results and ready to download, with pricing ranging from $10 to $35 depending on the videos resolution.

Avent Bezuidenhoudt, Senior Fund Manager at The FSE Group, comments: “Diarmuid and his team have a wealth of experience in the music industry and understand how important video production is to emerging artists. They have identified the key issues that hinder artists and have developed a platform that allows users to create and market their material in a cost-effective and time saving manner. We wish them all the success for the future and look forward to the next stage of Rotor’s development.”

The Coast to Capital Growth Equity Fund is part of the Coast to Capital Funding Escalator, a £5million initiative funded by Coast to Capital Local Enterprise Partnership. The escalator, which also includes an expansion loan scheme, provides eligible companies with loans and equity funding between £50,000 and £200,000 for activities that will deliver high-growth and employment opportunities across the Coast to Capital region.

For more information about the Coast to Capital Funding Escalator please visit http://www.thefsegroup.com/coast-capital-funding-escalator or contact Avent Bezuidenhoudt at avent.bezuidenhoudt@thefsegroup.com tel: 01276 608526.

Essex Company Secures Trade Finance Loan

Acoustic Hubs, based in Saffron Walden, Essex, is the first company to be supported by the East of England Regional Trade Finance Loan Scheme. Acoustic Hubs is a new company developed in response to the changing nature of the workplace. Workspace matters. Looking after personnel matters. Increasingly, with workplace stress reputedly the second biggest occupational health problem in the UK, trends in well thought-out office design have reflected the growing need to provide a calming and nurturing working environment. As stated by Paul Farmer, CEO of MIND, “It’s crucial that staff have inspiring, flexible working environments.”

The Hub – a solid wood and glass multi-purpose space – is designed with the key idea of a return to the natural world as its basis, using high quality wood (kiln-dried Douglas Fir), glass, fabrics and paints. The Hub is all about creating a space within the working environment which will have a positive effect on a workforce in terms of creativity, productivity and well-being. It is a space where people can gather and communicate, teach and learn, or think and concentrate. Each Hub is environmentally friendly and designed with the employee at heart.

Nick Turner, Managing Director at Acoustic Hubs, says, “The purpose of Acoustic Hubs is to encourage positivity and creativity and we are thrilled that this ethos has been so well accepted both by our lender and our clients. I have every faith in the business, but to receive orders from some of the biggest global companies in household interior design, the insurance sector, and UK Universities is testament to how popular this concept is. We very much look forward to pressing ahead in 2017, expanding the business and seeing the positive impact the Hubs have on our clients.”

Stuart Ager, Senior Fund Manager at Finance East, comments, “We launched the East of England Regional Trade Finance Loan Scheme with the aim to support established local businesses who have short term requirement for finance. Acoustic Hubs is a perfect example of this, with outstanding levels of interest in the company and considerable sector experience, the company is sure to go far. Nick and his team are dedicated and enthusiastic, all the ingredients are there for a successful and prosperous business.”

The East of England Regional Trade Finance Loan Scheme, which is funded by UK Government, provides up to £200,000 of loan funding to established businesses based in the region that show strong growth potential and are seeking funding to deliver that growth.

For more information about the East of England Regional Trade Finance Loan Scheme, please visit www.thefsegroup.com/fund/east-of-england-regional-trade-finance-loan-scheme or contact Stuart Ager at stuart.ager@thefsegroup.com tel: 01473 722910.

Surrey Cycling Company on the Road to Growth with Enterprise M3 Expansion Loan

A Surrey based business specialising in high end bicycles is expanding with the help of an Enterprise M3 Expansion Loan. WyndyMilla Ltd was established in 2009 by ex-elite cyclist, Henry Furniss and his wife Nasima Siddiqui, to offer custom built road bikes for the growing UK cycling market.

Cycling as a leisure activity has grown significantly in recent years, particularly following the successes of the British cycling team during the London Olympics and ongoing triumphs in the Tour de France. British Cycling members have more than doubled since 2012 and many of these are prepared to spend a significant amount of disposable income on their bikes and associated gear.

WyndyMilla has a unique offering which appeals to the company’s target market, as Furniss explains: “we recognise that once an individual commits to spending into the thousands on their bike they not only expect quality in terms of materials, mechanics, and build; they also want a style and individuality that says something about their character. As the only UK provider of hand-built carbon frame bikes, with custom painting by some great artists, we give our customers exactly that. Add to this our range of high-end, distinctively designed clothing and accessories and you have a brand that these riders can really identify with. ”

Being in tune with its market has helped WyndyMilla build a recognised brand which is reflected in its impressive social media following across the major platforms. To take advantage of this growing fan base, the company has secured £100,000 from the Enterprise M3 Expansion Loan Scheme in order to upgrade its existing premises, fit-out new facilities at a dedicated cycling park in Penshurst, Kent and take on new staff to support the expansion.

Geoff French, CBE, Chair of Enterprise M3 Local Enterprise Partnership (LEP) says: “cycling is both a major sport and recreational activity in Britain, so it is heartening to see a company manufacturing locally to meet the demand of this vibrant market space. A strong manufacturing base is essential to drive growth and we are always keen to support SMEs with big ambitions for expansion.”

Furniss and the team are also looking to increase corporate sponsorship of the WyndyMilla pro-racing team, which it set up to nurture and promote emerging UK talent. As part of its corporate focus, the company will also offer corporate race day experiences from the new Penshurst site in 2017.

James Edwards, Senior Fund Manager at The FSE Group which manages the Enterprise M3 Expansion Loan Scheme on behalf of Enterprise M3 LEP, comments: “we are pleased to be helping WyndyMilla to capitalise on the significant opportunities within the thriving cycling market. Henry and the team have built a dynamic company with a strong brand identity and presence. We look forward to continuing to work with them to achieve their growth ambitions.”

The Enterprise M3 Expansion Loan Scheme is part of the Enterprise M3 Funding Escalator, a £5.5million initiative funded by Enterprise M3 Local Enterprise Partnership. The escalator, which also includes an equity growth fund, provides eligible companies with loans and equity funding between £50,000 and £200,000 for activities that will deliver high-growth and employment opportunities.

For more information about the Enterprise M3 Expansion Loan Scheme please visit http://www.thefsegroup.com/enterprise-m3-expansion-loan-scheme or contact James Edwards at james.edwards@thefsegroup.com tel: 01276 608531.

For more information about WyndyMilla visit www.wyndymilla.com.

Teaching Children Online Safety: Expansion Loan for Hampshire Software Company

A software business specialising in programmes to help schools and parents educate children about online safety is the latest company to receive funding from the Enterprise M3 Expansion Loan Scheme.

Based in Rotherwick, near Hook, Gooseberry Planet has secured £150,000 from the scheme to help it penetrate this growing market. The platform uses ‘gamification’ to engage children and young people from the age of four upwards in a series of games and scenarios that will develop their awareness of potential online dangers.

With technological advances over the last decade transforming the way we communicate, children are being exposed to the online world from an increasingly younger age and schools are now expected to have appropriate tools to teach them how to operate within this environment.

When Gooseberry Planet CEO, Stella James, founded the business in 2013 it was in response to her experience as a parent. Feeling that the current provision of online safeguarding tools and training was not up to the task she worked in conjunction with local schools to develop a product that would effectively meet the needs of children, schools and parents.

Stella explains: “As digital natives our children are accustomed to using technology in much of what they do. This brings fantastic benefits and opportunities, which society is rightly embracing. However, with tech moving at such a rapid pace, we haven’t kept up with managing the risk brought by the increasingly easy and growing access our children have to the internet. It is imperative that we both educate and empower our children to function safely in the online world.”

Gooseberry planet tackles this issue not only by engaging children with its fun and appealing gamification approach, but also by providing up to date and relevant training and workshops for schools and parents alongside a platform which allows direct parent and teacher involvement and monitoring – something that is lacking in other products addressing this market. Furthermore, the platform includes built in evaluation tools that can be used for Ofsted inspections.

James Edwards, Senior Fund Manager at The FSE Group, which manages the Enterprise M3 Expansion Loan Scheme on behalf of the Enterprise M3 Local Enterprise Partnership, comments: “With more than 90 schools covering over 18,000 pupils signed up to Gooseberry Planet in just 18 months since the product was launched, the company is growing at a fast rate and management is now looking to capitalise on this momentum. We are excited to be supporting this innovative company as it rolls out its products widely and increases its Hampshire based workforce.”

Geoff French, CBE, Chair of Enterprise M3 LEP says: “Enterprise M3 LEP is always keen to engage with and support SMEs with a digital agenda; this is in line with our strategy to maintain our position as one of the most productive and fastest growing digital economies in the UK. Unfortunately, the growing threat of online safety and cyber security issues casts a dark cloud over the remarkable advantages offered by today’s digital world. We are pleased to be supporting Gooseberry Planet as it looks to extend the reach of its innovative technology to help more children stay safe online.”

The Enterprise M3 Expansion Loan Scheme is part of the Enterprise M3 Funding Escalator, a £5.5million initiative funded by Enterprise M3 Local Enterprise Partnership. The escalator, which also includes an equity growth fund, provides eligible companies with loans and equity funding between £50,000 and £200,000 for activities that will deliver high-growth and employment opportunities.

For more information about the Enterprise M3 Expansion Loan Scheme please visit http://www.thefsegroup.com/enterprise-m3-expansion-loan-scheme or contact James Edwards at james.edwards@thefsegroup.com tel: 01276 608531.

For more information about Enterprise M3, visit https://www.enterprisem3.org.uk/.

Further Growth Funding for Disruptive Corporate Travel App Business

Following its investment from the Bedford Business EIS Fund last year, corporate travel platform Tripism has now successfully secured funding from the Coast to Capital Growth Equity Fund, as part of a new funding round.

Since its last round, which also included several angel investors, Tripism has made significant progress with product development and expanded its relationship with Microsoft global travel. Tripism enables employees to use the travel experiences and know-how of colleagues to inform their own business travel decisions and to discover the benefits offered by corporate travel suppliers.

Following the successful pilot and development phase with around 600 Microsoft users, the Tripism platform will now be rolled out to all Microsoft staff and will replace some of the company’s former travel tools.

Tripism founder and CEO, Adam Kerr, comments: “We are delighted with the progress of our work with Microsoft: Tripism offers user generated content for 97 cities across 33 countries, giving information about many aspects of corporate travel from flights, transfers and hotels through to restaurants, parks and running routes. This relationship has provided a great opportunity to develop and refine our offering and we are now looking forward to engaging further corporate clients.”

Tripism is in discussions with a number of large corporations who are looking for a clear understanding of the quality of service they are getting from their travel providers and a significantly better tool for their travellers.

The latest £100,000 investment from Coast to Capital Growth Equity Fund is part of a further funding round that includes support from existing investors, and will see the company establish a base in Croydon to support the company’s marketing activity.

Avent Bezuidenhoudt, Senior Fund Manager at The FSE Group which manages both the Bedford Business EIS Fund and the Coast to Capital Growth Equity Fund, remarks: “the Tripism team is making great progress with this innovative travel app and is positioning the company well for a larger funding round later this year. We are delighted to continue working with them to realise their growth ambitions.”

The Coast to Capital Growth Equity Fund is part of the Coast to Capital Funding Escalator, a £5million initiative funded by Coast to Capital Local Enterprise Partnership. The escalator, which also includes an expansion loan scheme, provides eligible companies with loans and equity funding between £50,000 and £200,000 for activities that will deliver high-growth and employment opportunities.

For more information about the Coast to Capital Growth Equity Fund please visit http://www.thefsegroup.com/coast-capital-funding-escalator or contact Avent Bezuidenhoudt at avent.bezuidenhoudt@thefsegroup.com tel: 01276 608526.

Further Loan Helps Chillistick Roll Out Innovative FogJug

Having secured a £100,000 Enterprise M3 (EM3) Expansion Loan last October, Chillistick have spent the last year refining their unique FogJug, which builds on their dry ice experience to bring a long life dry ice effect product to the hospitality sector. With R&D now complete and the product market ready, the company will use a further £100,000 EM3 Expansion Loan to roll out the FogJug during 2017.

Chillistick has built a reputation as a market leader in the supply of dry ice and creator of innovative products to showcase its striking effects, from drink stirrers to Halloween accessories. The company has worked with leading spirit brands such as Smirnoff, as well as a notable TV chef, famous for his scientific approach to cuisine.  However, the inherently short life of the dry ice itself has, to an extent, acted as a barrier to growth.

Chris Buchanan, who co-founded Chillistick with fellow chemical engineer Mike Ashe, explains: “As dry ice only lasts at most, a couple of days, it limits our market both within the UK and overseas. The UK hospitality industry is a key sector for us, but for some potential customers the brief shelf life leaves profit margins too uncertain. As for export, we are seeing increased sales of our dry ice hardware in foreign markets but are unable to supply the consumable element, which diminishes any recurring purchase.”

The FogJug has been developed to address this issue, employing a unique cartridge system whereby refills can be stored for up to two years prior to use. On activation, which can be done by hospitality staff or the end consumer, the jug will emit Chillistick’s trademark fog effect. With the UK roll out set for the coming months, the company is also looking to exploit overseas opportunities and will be launching the product in the US later in the year.

Derek Ellis, Fund Manager at The FSE Group which manages the EM3 Expansion Loan Scheme, says: “Chillistick has made good progress over the last year, overcoming hurdles in the FogJug R&D phase to end up with a product that is already being well-received by the industry. Roll out is the next challenge and we will continue to work with the company to help them reach their growth potential.”

Chris and Mike have also been supported by the EM3 Growth Hub, working with Growth Champion Mike O’Dwyer, who has helped them review and refine their business processes and identify potential markets for their product.

The Enterprise M3 Expansion Loan Scheme is part of the Enterprise M3 Funding Escalator, a £5.5million initiative funded by Enterprise M3 Local Enterprise Partnership. The escalator, which also includes an equity growth fund, provides eligible companies with loans and equity funding between £50,000 and £200,000 for activities that will deliver high-growth and employment opportunities.

For more information about the Enterprise M3 Expansion Loan Scheme please visit http://www.thefsegroup.com/enterprise-m3-expansion-loan-scheme or contact Derek Ellis at derek.ellis@thefsegroup.com tel: 01276 607302.

For more information about Chillistick visit www.chillistick.com or tel 0203 432 9412.

Further Loan to Help Commercialise Disruptive Technology

A second Thames Valley Berkshire (TVB) Expansion Loan has been has been secured by Lein Applied Diagnostics to further advance the development and commercialisation of its precision measurement technology.

Having received its initial £200,000 TVB Expansion Loan two years ago, the Reading based company has used the funds to help expand its presence in global markets, including the US, China and Europe and continued its R&D work, resulting in the company’s first commercial successes via development and licensing deals that exploit its extensive patent portfolio. With the help of a £60,000 TVB Trade Finance Loan earlier this year, Lein also completed the development of a highly innovative instrument for use in the nuclear industry, resulting in an ongoing contract with a significant blue-chip engineering giant.

The company will now receive a further £85,000 TVB Expansion Loan to enable progression of its medical devices, which have the potential to impact significantly upon the ophthalmology, diabetes and pharmacokinetics (the movement of drugs around the body) sectors. In each area Lein is working with academic, medical and pharmaceutical experts to ensure products are commercialised to meet the needs of the relevant markets.

Prototypes of Lein’s non-invasive blood glucose meter have now undergone clinical trials at the Royal Berkshire Hospital and the University of Reading with positive results on both Type 1 and Type 2 diabetic volunteers. The meter is expected to be fully commercialised by 2020 when it is intended that people with diabetes will undertake glucose monitoring by simply looking into a mobile phone sized device that will take a reading from the eye.

Dan Daly, Lein co-founder and CEO says: “Having worked on developing and refining our platform technology over the last 13 years, we are keen to capitalise on its numerous applications in both medical and industrial markets. Our ongoing relationship with The FSE Group provides us with the support needed to explore and exploit these opportunities.”

Ian Baker, Senior Fund Manager at The FSE Group adds: “With several products in the pipeline and a working relationship with global pharmaceutical companies, Universities and NHS healthcare providers, Lein is well set for growth. The company is continuing on its path to revolutionise personal diabetes management and we are pleased to be supporting the team, whilst also helping them realise further commercialisation prospects.”

The TVB Funding Escalator is a £8.3m initiative funded by Thames Valley Berkshire LEP to support job creation and economic prosperity in Berkshire. The escalator, which includes four different loan schemes and a growth equity fund, provides eligible companies – from start-up to established – with loans and equity funding between £25,000 and £250,000 for activities that will deliver high-growth and employment opportunities.

For more information about the Thames Valley Berkshire Funding Escalator, please visit www.thefsegroup.com/thames-valley-berkshire-funding-escalator or contact Ian Baker ian.baker@thefsegroup.com tel: 01276 608517.

Property Management Company Expands with Regional Growth Loan

A Watford based property management company, providing services to the owners of residential blocks of flats, is growing with support from the East of England Regional Growth Loan Scheme (RGLS).

Integrity Property Management (IPM) was set up in 2005 by Matthew Young in response to his poor experience as both a leaseholder and a freeholder of property in the UK. As a result he set about creating a company that would manage the needs of the freeholder effectively, whilst seamlessly providing a high level of service to the leaseholder – something he had found to be lacking in his experience. IPM further sets itself apart from other property management firms by offering in-house legal services alongside its property management services. Leasehold property is an area loaded with technical complexities which, with careful and timeous use of legal services, can be easily navigated.

With some four million leasehold flats and more than 100,000 new builds being added each year, the UK property management market is large. However, block turnover is low, resulting in slow organic growth across the sector. IPM is therefore looking towards business acquisition to expedite growth and has taken its first step towards this with the purchase of a Windsor based property management company, Campsie Commercial.

Matthew Young, IPM Managing Director, explains: “Over the past decade we have built a robust property management business that represents and looks after the interests of freeholders, whilst at the same time providing a service to their leaseholders. We are proud of the model we have successfully introduced and are keen to expand. Buying Campsie, a 40 year old business with a strong reputation and being sold by its owners to divest a non-core operation, has seen us double in size. We are now in a position to introduce our legal services USP to the new customers we’ve gained, which will enable the business to expand further.”

The acquisition has been funded with a £200,000 RGLS loan. The RGLS is managed by Finance East, part of The FSE Group, on behalf of Local Enterprise Partnerships in the East of England and British Business Bank. Francis Kenealy, Finance East Fund Manager, comments: “We are pleased to support this successful company in its next growth phase. By offering services complementary to its core property management activities, IPM has created a niche that will help it scale at an accelerated rate and we look forward to working with them to achieve this.”

The RGLS is available to established incorporated businesses based within the East of England that have a minimum annual turnover of £100k, show strong growth potential and have a medium to long-term funding requirement to deliver that growth.

For more information about the Regional Growth Loan Scheme contact Francis Kenealy on 0782569435 or email francis.kenealy@thefsegroup.com.

RGLS Sounding Good for Growth as Cyrus Audio Expands into New Markets

Having successfully secured an East of England Regional Growth Loan to launch its Lyric hi-fi range three years ago, Huntingdon based Cyrus Audio, which has successfully leveraged its reputation for high-end systems that are technically superior into more stylish and elegant looking products, is now using a second loan to grow the business further.

To stay ahead of the competition, Cyrus has continued to invest in research and development throughout its existence, a move which sees it held in high esteem by the hi-fi sector press and has led to it receiving over 70 industry awards. It has also helped it establish strong brand loyalty with its customer base.

The way in which people consume music is continually evolving. This is influenced by developments within the audio visual sector, but also reflects changes in the broader technological landscape. The biggest shift in recent times is unquestionably a result of advances in wireless technology, as illustrated by the rise of digital streaming services and wireless equipment.

Cyrus Managing Director, Simon Freethy, says: “Keeping our product range in line with wider technological trends and innovations is essential for us to remain competitive, however we need to achieve this whilst remaining true to our promise of exceptional sound quality. This is extremely important to our customers and so we have dedicated considerable resources to developing streaming music players and wireless connectivity for our products without compromising the characteristic audio distinction our customers expect.  We are also developing products for the mobile / younger market.”

The company is now in the process of rolling out its latest products whilst also working to expand into new geographical markets. This will be achieved with the £100,000 funding obtained from the East of England Regional Growth Loan Scheme (RGLS) alongside further equity funding from existing shareholders.

Stuart Ager, Senior Fund Manager at Finance East, comments: “With an experienced management team and a reputation for technical superiority, Cyrus Audio is well-positioned to take advantage of the global growth opportunities available to it. Its existing product suite offers clear USPs against competitors and it has a well-defined new product development strategy. We are excited to be working with Simon and the team again as they move into their next phase of growth.”

The RGLS is managed by Finance East, part of The FSE Group, on behalf of Local Enterprise Partnerships in the East of England and British Business Bank. The RGLS is available to established, incorporated businesses based within the East of England that have a minimum annual turnover of £100k, show strong growth potential and have a medium to long-term funding requirement to deliver that growth.

For more information about the Regional Growth Loan Scheme contact Stuart Ager on 07825 699407 or email stuart.ager@thefsegroup.com.