ARC Marine, the developer of pioneering low-carbon concrete solutions for use in marine environments, has secured £1million from the Cornwall & Isles of Scilly Investment Fund (CIOSIF), as part of a £2million funding round, which also includes a Mulago Foundation grant and investment from Mercuria, one of the world’s largest independent energy and commodities groups.

The Truro based business has developed Marinecrete®, a proprietary non-toxic binder, which emits 90% less CO2 than Portland cement and has recently broken new ground on carbon neutral and carbon negative mix designs. It’s patented product, reef cubes®, can be used in a variety of marine applications across aquaculture, coastal defence, offshore wind, reef conservation and eco-engineering.

ARC’s innovation has the potential to transform the offshore wind farm sector by improving infrastructure installation while preserving marine biodiversity and this will be a key area of focus for the business.

This latest funding follows a previous CIOSIF investment in 2021 and will be used to scale up production and application of ARC’s market-disrupting solutions. Since the first CIOSIF investment ARC has more than doubled the number of employees and quadrupled its turnover and the new funding will be used to further increase headcount with the creation of several highly skilled roles over the next two years

Co-investor Mercuria strategically deploys multi-billion-dollar investments across the energy sector with a focus on the energy transition. With a discerning eye for value and impact, the team annually picks a select number of high-potential ventures that align with a commitment to innovation, sustainability, and market leadership. These carefully curated investments are poised for significant scalability and are instrumental in shaping the future landscape of the energy market. By focusing on transformative projects that bolster energy security and transition, Mercuria plays a pivotal role in driving progress within the industry, fortifying supply chains, and fostering long-term economic growth.

Tom Birbeck, ARC Marine founder and CEO, said: “We are delighted to have secured further CIOSIF funding, via The FSE Group, alongside our new co-investors. The first investment helped us grow our team and expand operations and we’re well on our way to proving our innovative solutions can work at scale. Mercuria recognises the potential of Marinecrete® and reef cubes® in the natural energy supply chain and their partnership will be instrumental in boosting the visibility of ARC.”

Meg Salt, Investment Manager at The FSE Group, appointed CIOSIF fund manager, added: “Since our initial investment, ARC has secured a number of blue-chip customers including multi-national energy companies. ARC is uniquely placed to support global carbon net zero targets. The opportunity in offshore wind projects alone is significant while there remains huge potential impact across many sectors beyond its current marine setting. We’re thrilled to work with the team as they take the next step in their growth journey.”

The £40m Cornwall & Isles of Scilly Investment Fund was established by the British Business Bank in partnership with the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP) to provide debt and equity finance to help growing small businesses across the region.

Funding through CIOSIF came to an end in December 2023 but wider funding is now available through the British Business Bank’s £200m South West Investment Fund providing loans from £25k to £2m and equity investment up to £5m.

CIOSIF has been supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020.

RoleMapper, the AI-powered job management platform, has secured a £1million equity investment from the British Business Bank’s South West Investment Fund (SWIF), via appointed fund manager The FSE Group.

The investment is part of a £2.1million funding round that will support job creation and overall growth of the business. The funding round includes investment from Mercia Ventures, South West-based venture capital firm QantX, and existing private investors.

The £200m South West Investment Fund covers the entire South West region and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead. The RoleMapper deal is the fund’s largest investment to date since its launch in July last year.

RoleMapper’s technology is disrupting how organisations manage jobs, skills, inclusivity and compliance. It can automate and transform how to plan and manage job designs and descriptions, with access to millions of jobs and skills across multiple industries, all integrated within existing human resources (HR) systems.

Sara Hill, RoleMapper Founder and CEO said: “We are thrilled to have the South West Investment Fund and FSE on board as new partners, enabling us to further strengthen our product, unique AI models and build capacity for further roll-out. We look forward to working with all our investors as we continue our growth journey and build on the progress we’ve made helping organisations create better jobs and build inclusive workplaces.”

The Exeter based business is already working with a number of large organisations including well-known global brands, local authorities and NHS trusts.

Ralph Singleton, Head of Equity, South West at The FSE Group added: “RoleMapper has a strong leadership team with experience building and scaling businesses in the B2B and HR space. They have recently pivoted their offering to address an identified market need and their AI powered tech is helping major corporates and public sector organisations manage their responsibilities as equal opportunity employers. We look forward to working with them as they expand.”

Jody Tableporter, Director, Nations and Regions Investment Funds said: “Rolemapper has gone from start-up to scale-up in just a few years, harnessing AI technology to transform how businesses and organisations manage their workforce strategy. We’re delighted the South West Investment Fund is supporting their further growth, with what is the fund’s largest deal to date.”

Mercia Ventures first backed RoleMapper in 2022. Rafael Joseph of Mercia added: “We’re pleased to continue to back the team at RoleMapper. They have shown great tenacity against a tough economic backdrop and successfully reshaped their strategy to solve the immediate issues facing clients. As a consequence, they’ve continued to win impressive blue-chip customers, proving the need for their solutions in the market. We expect them to have another strong year in 2024.”

The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the South West. The South West Investment Fund is increasing the supply and diversity of early-stage finance for South West smaller businesses, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.

A Worcestershire based e-commerce gym wear brand, has secured a £650,000 investment from the Midlands Engine Investment Fund (MEIF), provided by The FSE Group Debt Finance Fund and backed by the Recovery Loan Scheme.  

Silverback Gym Wear focuses on the strongman, strongwoman and strength sports markets. Their existing range is popular with professional athletes and avid gym goers alike, who prioritize quality and innovation over aesthetics when choosing their performance clothing. 

The development of their latest product range Fortis will see them branch out into other areas such as professional rugby and MMA. This standalone range has been co-developed with Britain’s Strongest Man, Adam Bishop. 

Silverback Gym Wear boasts 30,000 returning customers and is expanding its reach in the lucrative US market. To help them achieve this, alongside the development of new products, the MEIF funding will be used to create 12 new positions, fund the move to new larger premises and to boost the sales and marketing functions of the business.  

Richard Gardener, Founder of Silverback Gymwear, said: “The next stage in the development of our range is an incredibly exciting one as we branch out into more sports and interests at all levels of  competition. We’ll be releasing new products that are industry leading, accredited and used in top competitions, all utilising designs that are much more user friendly than current alternatives. The new staff hires that we’ll be able to bring on board thanks to this funding will continue this work and help us to expand further and faster as we disrupt the strength based sports sector, bringing more options to the sector.”   

Ryan Cartwright, Investment Manager at The FSE Group, commented: “Founders Richard and Pete are fantastically passionate about their brand. They are brimming with ideas and sector knowledge and in addition their enthusiasm for the sector as a whole is evident. The company’s new products and expansion plans are very encouraging and it has been wonderful working with the whole team to help them secure this funding. We look forward to seeing how the business progresses and spotting their clothing at more and more competitions and matches.” 

Mark Wilcockson, Senior Investment Manager at the British Business Bank, said:  The Midlands Engine Investment Fund continues to back smaller businesses across the region, so it’s great to see another business taking the opportunity for continued growth thanks to the MEIF. As we move towards the launch of MEIF II, we continue to remain committed to this objective.”  

The current MEIF investment phase has now completed with the British Business Bank launching the Midlands Engine Investment Fund II on February 29th. 2024. 

The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2022 and the European Investment Bank. The FSE Group manages a section of MEIF that provides investments between £100,000 and £1.5 million to support growing SMEs across the region. For more information visit: www.thefsegroup.com/fund/midlands-engine-investment-fund-debt-finance. 

A Tremough-based company that has developed disinfectant technology using water and electricity has received funding from the Cornwall & Isles of Scilly Investment Fund (COISIF), managed by The FSE Group, as part of a £1million funding round.

The £250,000 CIOSIF investment in Oxi-Tech is accompanied by investment from existing shareholders and Henley Business Angels and is being used to support business growth.

Oxi-Tech’s patented clean-in-place technology uses activated oxygen, removing the need for aggressive chemical-based disinfection solutions, such as chlorine, and eliminating the high recurring costs and safety risks of traditional chemical disinfectant processes.

Oxi-Tech’s technology creates an oxidation process in-situ from tap water, that is safe to use for humans and animals and can be applied across a variety of sectors including agriculture, utilities, the built environment and water supply.

The company is in the initial stages of focusing its efforts on the agricultural sector where equipment such as dairy milking machines and animal feeding water lines are potential breeding grounds for bacteria and other pathogens.

The carbon-heavy supply chain of traditional large-scale disinfecting carries a significant environmental burden. Oxi-Tech’s solution reduces CO2 output and removes the use of harsh and dangerous chemicals from the process, as well as providing an estimated £20,000+ in savings per year to farmers implementing the system over traditional, chemical solutions.

Following successful trials in the UK and the Middle East, Oxi-Tech is now ready to commercialise its technology with a team that has an excellent track record in developing sustainable, innovative, high-growth businesses.

Paul Morris, CEO of Oxi-Tech said: “The FSE Group has been a strong supporter of our technology and business proposition over the past five years and we are thrilled to receive this CIOSIF investment, which has provided a foundation for the funding round. We are now looking forward to focusing on the full commercialisation and roll-out of our ground-breaking solutions as we move into the next phase of growth.”

Ralph Singleton, Head of Equity, South West, at The FSE Group commented: “This innovative team has developed market disrupting technology with robust environmental credentials. With a number of cross-sector opportunities across the UK and international markets, we are delighted to be supporting Oxi-tech to roll-out its game-changing solution.”

The £40m Cornwall & Isles of Scilly Investment Fund provides debt and equity finance from £25,000 to £2 million to help growing small businesses across the region. It has been established by the British Business Bank in partnership with the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP).

Funding through CIOSIF comes to an end in December this year but wider funding is now available through the British Business Bank’s £200m South West Investment Fund providing loans from £25k to £2m and equity investment up to £5m.

Keira Shepperson, Director, Regional Funds from the British Business Bank said: “Oxi-Tech have developed a process that uses tap water and low level electricity to create a powerful, chemical-free disinfectant. It is already showing results in the agricultural industry, lowering both costs and environmental impact, and we are pleased the fund is supporting further growth.”

John Acornley, Chair of the CIOSIF advisory board and former LEP non-executive director, said: “Oxi-tech is another example of a Cornwall-based tech start-up with an environmental focus. Its proven technology also saves on the of costs of transport, storage and disposal compared to chemical-based disinfection and has applications across many sectors.”

CIOSIF is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020.

For more information about the Cornwall & Isles of Scilly Investment Fund including how to apply, please visit www.ciosif.co.uk  or follow the fund on Twitter at @CIOSIFBBB2

Nusara is a multi-award winning boutique Thai restaurant brand, based in Dorset. It is the brainchild of hospitality entrepreneur Andy Lennox, who rejoined forces with husband and wife chef duo Thammanoon Thurasan and Nusara Padungwang as well as Acorn-Award Winning operations director Sophie Cox.

The business recently received a £250,000 investment from the South West Investment Fund via fund managers The FSE Group, to support the opening of their new site in Westbourne, Bournemouth. The area has been a high target for the brand, following its Ambassador Choice status and being granted Thai Select signature status by the Royal Thai Government. The plan is to open in early Spring 2024.

This will be their fourth site in three years, as the brand continues its localised roll out in Dorset. The group has plans to add several more restaurants in Dorset, before a potential nationwide rollout.

Andy Lennox said: “We’ve managed to create something special out of such a tough time. As a passion project, to open four sites in just under three years is remarkable and a testament to the team we have here.

“For me, being backed by the South West Investment Fund through The FSE Group is a key marker in the sand for the brand. This not only helps us fund the opening of our new restaurant in Bournemouth but the fact we’ve managed to secure more traditional debt financing for the first time, will allow for the potential of an accelerated roll out once we are bedded in.”

A learning and development business in Fleet has secured a £300,000 loan from the Enterprise M3 (EM3) Funding Escalator, managed by The FSE Group (FSE) on behalf of EM3 Local Enterprise Partnership, to support its expansion.

SEEDL, which recently won new business of the year at the Hampshire Business Awards, provides professional, accredited training via its online platform. It offers over 200 modules and courses delivered live by expert tutors covering areas such as Health & Safety, Compliance, Microsoft Office Suite, Sales, Mental Wellness, Customer Excellence, Leadership, and Communications.

SEEDL's live and interactive approach separates it from other online learning providers, encouraging greater attendance and engagement. The company has been growing steadily over the last three years with customers that include corporates, local authorities and charities. Its platform is currently accessed by thousands of users in 70 countries.

The company is now ready to capitalise on its recent success and will use the funding to support marketing activity and create a number of new roles in the business.

Anthony Price, SEEDL Founder and CEO, said: “As a relatively new business, our lack of financial history and profitability can make it difficult to secure growth funding from traditional lenders. With the support and resources provided by FSE, SEEDL is poised for even greater success in the future and we look forward to working with our FSE Investment Manager as we continue to grow.”

FSE Investment Manager, Paul Smith, added: “SEEDL has developed an innovative offering and gained early traction, leaving it well-positioned to become a major player in its field. Its experienced management team and supportive investor base have been instrumental in driving growth to date and we are delighted to be joining them to help the business reach its full potential.” 

The global online learning platforms market continues to grow and is expected to reach $325 billion by 2025. Learning technologies incorporating interactions, group work, and community building are shown to lead to more efficient learning, whilst COVID-19 accelerated the adoption of, and increased demand for online learning. SEEDL’s solution addresses the market need for remote and flexible learning options that also offer more personalised experiences.

Stephen Martin, Managing Director at Enterprise M3 LEP said: “SEEDL is clearly an impressive digital learning technology company delivering virtual training courses for businesses in 70 countries around the world. We are so pleased that through the EM3 Funding Escalator Fund we’re able to help support its ambitious expansion plans.

“While wishing Anthony and his team continued success, I’d also like to heartily congratulate SEEDL for winning its well-deserved New Business of the Year accolade, at the recent Hampshire Business Awards, which bodes well for this Hampshire business.”

The Enterprise M3 Funding Escalator is a £10million initiative funded by Enterprise M3 LEP. The escalator includes an expansion loan scheme, a short-term trade loan scheme and an equity growth fund and provides eligible companies with loans and equity funding between £50,000 and £500,000 for activities that will deliver high-growth and employment opportunities across the EM3 area.

The British Business Bank’s £200 million South West Investment Fund has announced its first major equity deal with a £500,000 equity investment in tech-led commercial waste and recycling business Binit.

The deal is part of a £750,000 funding round led by the South West Investment Fund appointed fund manager The FSE Group and includes co-funding of £250,000 from private equity investor Yeo Valley Associates.

The South West Investment Fund was launched in July this year by the government-backed British Business Bank to boost the supply of early-stage finance to small and medium-sized businesses across the entire the South West region.

Exeter-based Binit is a data-driven circular economy business that aims to transform the way businesses use waste and recycling services across the UK.

Based on Exeter Science Park, Binit was co-founded in 2016 by CEO Philippa Roberts, together with co-founder and former Non-executive Director Claire Harrold, who specialises in sustainability.

Binit has grown from its Exeter base to serve customers across the UK, including Specsavers and Pizza Express. It is a Living Wage employer and is working towards B Corp certification.

This is the company’s third investment round as it scales to go nationwide. It aims to double turnover and staff numbers to 15 in a year, while investing in new ‘bintech’ hardware, data systems and enhanced customer interfaces.

Philippa, who is a Chartered Waste Manager with more than 20 years’ experience in the industry, was inspired by her time working with a leatherback turtle project in Costa Rica during a student gap year, where she saw first-hand the impacts of plastic ocean waste.

She said: 'The way businesses manage their waste is changing and that’s being driven by a corporate commitment to net zero, which is being pushed right down the supply chain. We are a next-generation, tech-led waste and recycling super-broker and that means we can help businesses deal with their waste in the most eco-friendly way, wherever they are in the UK.

Female founder teams still struggle to raise equity investment, so we are delighted to have secured this package. It’s great to have the regional focus of the South West Investment Fund, together with Yeo Valley Associates as impact investors, so this deal has been perfect for us as we scale up across the country.'

Ken Cooper, Managing Director, Venture Solutions, at the British Business Bank, said: “Philippa and Claire are determined to disrupt the market and vastly improve the way that businesses access and interact with waste and recycling services. Their ‘waste nothing’ mantra makes sound commercial and environmental sense and I’m delighted that the South West Investment Fund has been able to support their growth ambitions with the fund’s first equity investment in the region.”

Ralph Singleton, The FSE Group’s Head of Equity, South West, said: “It has been wonderful working with a company who so passionately puts the needs of the planet at the forefront of everything they do. Binit’s ability to improve many of the issues faced by the waste disposal sector is key in supporting their customers as they work towards their own Net Zero ambitions. We are delighted to be supporting Philippa and the Binit team as they change their industry for the better.”

Amy Crown, Head of Investments at Yeo Valley Associates, said: “We are delighted to invest in Binit, a disrupter to the waste market and a leader in developing a circular economy. We’re excited to support Binit as they expand their smart, responsive commercial waste and recycling service across the country and unlock waste reductions through accurate data.”

Advisers on the deal were Field Seymour Parkes for FSE. Clarke Willmott for Yeo Valley Associates and Michelmores for Binit.

The South West Investment Fund covers the entire South West region and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.

The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the South West.

The South West Investment Fund was the first in a series of six new Nations and Regions Investment Funds to be launched by the British Business Bank, the government-owned business development bank. A total of £1.6 billion has been committed to the new regional funds to drive sustainable economic growth.

Applications for funding are made directly to the relevant fund managers who can be contacted via the South West Investment Fund website southwestinvestmentfund.co.uk.

The FSE Group, which supports high growth businesses through the provision of loans and equity investments, is the latest company to move to Exeter Science Park. 

The organisation has been delivering funding solutions in the South West since 2018 as the appointed fund manager for the Cornwall & Isles of Scilly Investment Fund (CIOSIF).  During that time, they have invested over £24.5million to support the growth of more than 60 businesses, creating or safeguarding almost 1,000 jobs and attracting a further £91.5million of private investment into the businesses they have supported. 

As CIOSIF comes to a close in December, the £200 million South West Investment Fund has been launched by the British Business Bank to provide a range of commercial finance options to growing businesses across the whole of the South West region. The South West Investment Fund offers loans from £25,000 to £2 million and equity investment up to £5 million.  

The FSE Group is managing the debt finance and equity finance part of the South West Investment Fund (some £70m) for Cornwall & Isles of Scilly, Devon, Dorset and Somerset (excluding North and North East Somerset), providing loans from £100,000 to £2 million, and equity investments up to £5 million. 

Ralph Singleton, FSE head of equity, south west, said: “We’re delighted to be based at the Exeter Science Park, which is home to many innovative businesses that we’re excited to work with. Exeter is a great location for us, with extensive links across the South West. We’ll be taking full advantage of the variety of co-working and breakout spaces that the Park has to offer, and would like to thank Sally Basker and her team for their warm welcome.” 

Jason Buck, senior business development manager at Exeter Science Park, added, “We’re very pleased to welcome the FSE Team to Exeter Science Park. We view the science park community as an eco-system and funders are a vitally important part of that. The FSE Group already has connections with many of our organisations and we’re looking forward to seeing that develop even further as they build on their presence here.” 

www.exetersciencepark.co.uk 

Huddersfield based Soren’s House – a children’s toy, decor and clothing retailer – is set for growth following investment from Finance Yorkshire.

Soren’s House specialises in sustainable Scandinavian style wooden toys, furniture, decor and organic clothing for children aged 0 to 12 years.

The company was launched by Sally Jackson in 2016 and is named after Soren Lorenson, a character in the popular children’s book and television series Charlie and Lola, an old favourite of Sally’s daughter, Seren.

A £80,000 investment from Finance Yorkshire’s business loans fund will enable Soren’s House to expand its team and accelerate its marketing activity to grow visibility and market share.

Sally’s partner in the business Max Jones said: “Our ambition is to be a one-stop shop for parents who are conscious about the environment and sustainability.”

The ethos of Soren’s House was developed after a pause in the business when Sally’s son Seth was diagnosed with Non-Hodgkins lymphoma at the age of six.

Max said: “Seth was treated for the best part of a year during which we had to put the business on hold. The experience of Seth being ill and his treatment gave us a different perspective and that’s why we are focused on natural materials and sustainability – we want parents to buy once and buy well and to be able to trust the products that they buy from us.”

Seth is now well and aged 12, sister Seren is 13.

With Finance Yorkshire’s investment, Soren’s House is set to employ a customer services manager and a digital marketing manager. The company plans to expand its product range and develop its own brand products.

“We see ourselves as a modern, natural design store merged with sustainability,” added Max.

Finance Yorkshire chief executive Alex McWhirter said: “We are pleased to support Soren’s House and applaud the entrepreneurial spirit of Sally and Max who are embarking on an ambitious development trajectory for their business with an emphasis on the growing interest in sustainable living.”

Speciality coffee roaster, Origin Coffee, has secured a £1 million investment from the Cornwall & Isles of Scilly Investment Fund (CIOSIF), managed by The FSE Group. The investment is part of a £3.1 million funding round with other investors including Create Impact Ventures and Yeo Valley.

The funding will be used to enable the growth of the business, which already boasts an innovative Cornish roastery, loyal customer base and a number of coffee shops. A significant focus on digital activity will support expansion of its direct-to-consumer retail rollout as well as further wholesale channels. New jobs will be created across a number of head office functions at its Porthleven base.

A committed B Corp, Origin Coffee is committed to improving ethical sourcing and sustainability within the industry, pledging to increase direct Green Coffee purchases from farmers by 77% over the next four years.

On raising external investment for the first time in the company’s 18-year history, founder and CEO Tom Sobey said: “This step offers us the flexibility and opportunity to take the company forward. We take our commitment to sustainability and transparency seriously and the foundation of our business will remain ethical as we grow. We are delighted to have in CIOSIF a Cornwall focused investor who knows where we come from and understands our commitment to the region and we’re so excited to grow together with all our new partners, as well as our long-time friends and supporters.”

Meg Salt, FSE Investment Manager at CIOSIF, said: ‘We are thrilled to be adding this thriving Cornish business with sustainability at its core to our portfolio. Tom has built a robust enterprise that has attracted high-profile investors who are committed to supporting this next phase of growth. We look forward to working with the team as the business grows, aiding UK expansion whilst also boosting employment in Cornwall and continuing to bring ethically sourced coffees from around the world to their customers.”

The Cornwall & Isles of Scilly Investment Fund provides debt and equity finance from £25,000 to £2 million to help growing small businesses across the region. It was established by the British Business Bank in partnership with the Cornwall and Isles of Scilly Local Enterprise Partnership.

Paul Jones, Senior Investment Manager from the British Business Bank said: “Origin Coffee has set a very high bar in the speciality coffee market for its commitment to ethical and sustainable sourcing and I’m delighted that the Cornwall and Isles of Scilly Investment Fund is able to support the further growth of the business.”

John Acornley, Chair of the CIOSIF advisory board, said: “Tom and the team at Origin Coffee are committed to growth and maintaining the culture of the business, and that’s a powerful combination. With the support of the fund and other investors we look forward to seeing the business expand nationwide.”

CIOSIF is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020.

For more information about the Cornwall & Isles of Scilly Investment Fund including how to apply, please visit www.ciosif.co.uk  or follow the fund on Twitter at @CIOSIFBBB2