A Leicestershire based food safety technology business has secured a £500,000 investment to scale-up operations and boost their ambitious growth plans.
Navitas Digital Safety Ltd (Navitas), which operates out of Phoenix Park in Coalville, has secured the finance from The FSE Group Debt Finance Fund through the Midlands Engine Investment Fund (MEIF).
The firm is set to use the funding to invest in the development of the first of its kind safety platform, which will be a single destination for food safety. The platform will allow hospitality businesses to manage their entire safety operations, all in one place. It will also enable Navitas to offer a SaaS model, providing the platform at a monthly price, making the best safety tools and services accessible to any size business.
Established in 2014 by Ben Gardner, Navitas digitalises time consuming and labour-intensive food safety processes, which must be followed to maintain food safety and health and safety regulations within the food hospitality sector.
Ben Gardner, CEO of Navitas, commented:
“Every food service business knows and understands the importance of health and safety. I am passionate about making the complex world of food safety legislation as simple and cost effective as possible. Our aim is to become the leading “one stop” food health and safety consultancy, compliance, training and digital safety management company within the food hospitality sector. Having successfully secured the funding, we can confidently grow our business to the next level to achieve this.”
Paul Lynam, Fund Manager at The FSE Group, which manages the MEIF Debt Finance Fund added:
“We are proud to have supported Navitas with their expansion plans. The job creation will have a positive impact on the local economy and further strengthen the future of the business. Through the Midlands Engine Investment Fund, The FSE Group are committed to providing finance for innovative Midlands based businesses with the potential to grow.”
Lewis Stringer, Senior Manager at the British Business Bank said:
“The MEIF fund managers work closely with one another across the Midlands to help businesses in the region access the finance they need to develop and grow. This latest investment into Navitas builds on the earlier debt and equity finance provided by MEIF and demonstrates the various finance options available through the fund. We’d encourage other businesses across Leicestershire and the whole region to consider these options.”
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 2014-2020 and the European Investment Bank.
For more information about Navitas Digital Safety Limited, visit www.navitas.eu.com