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Stitched, a digitalised platform providing curtains and blinds to customers using a combination of 3D customisation and augmented reality, has secured £200,000 from the Enterprise M3 Growth Fund to grow its marketing, sales, and finance teams to take the business to the next level. The investment is part of a £750k funding round, where the Enterprise M3 Growth fund is joined by FSE’s Angel Investor Network, Angel Academe, and existing investors.

Launched in 2018 by Elinor Pitt, Stitched is bringing the UK’s £1.1 billion made-to-measure curtain and blinds industry into the 21^st century with an online only offering that is growing quickly and is benefitting from several tailwinds in the home décor sector. The business has developed sophisticated consumer and supply chain software that delivers a seamless digital experience for customers buying made-to-measure curtains and blinds online, and in the process efficiently organises a network of makers, larger workshops, fabric mills and retailers who are increasingly relying on the Stitched ecosystem to operate.

Made to measure curtains and blinds are complex and expensive products that are traditionally non-returnable. Whether buying online, in-home or in-store, there are very few digital tools that help the customer understand what they are buying. With the Stitched platform and AI-driven app, customers play a key part in the design process for their curtains and blinds, which are made in the UK and milled in Lancashire and Huddersfield.

Elinor Pitt, CEO and Founder of Stitched explains: “It is great to have Paul and the EM3 team join a funding round that has come at an extremely important time. Thanks to this investment, we will be able to capitalise on our key partnerships with Swoon and MADE and deliver high quality products to our customers. Additionally, we will be able to connect and effectively coordinate local mills, manufacturers, and makers to deliver these high-quality products online. These solutions will meet a critical market demand and will allow us to move to the next stage of growth.”

Paul Lyristis, Investment Manager, South East for The FSE Group, which manages the EM3 Growth Fund on behalf of Enterprise M3 Local Enterprise Partnership (LEP), commented: “We were impressed by Elinor and the team’s sector experience and their excellent track record of growth. Stitched has digitised the entire value chain of ordering curtains and this is very much in line with developments in the home furnishing and décor sectors. We would like to thank Jonathan Hollis from Mountside Ventures for introducing us to Stitched, and we are delighted to be able to invest in this funding round. We look forward to working with Elinor and the Stitched team to ensure they reach their goals for growth.”

Sarah Turner, Co-Founder & CEO, Angel Academe, commented: “We've been part of the Stitched journey since 2019 so are delighted to see the business go from strength to strength. Elly's technical background and integrity as well as her vision and leadership are impressive. Stitched has successfully and creatively applied digital technology to transform how we buy curtains and blinds. The end results are superior, customised products made of eco fabrics from local mills and workshops, but without the high price-tag.”

Michael Queen, Chair at Enterprise M3 LEP adds: “The Covid19 pandemic has seen a step-change in the way consumers make purchases, accelerating the move to digital sales. Stitched has been ahead of the curve, bolstering an entire supply ecosystem along the way and utilising the latest technology to ensure success. Enterprise M3 LEP has a proud history of supporting highly innovative businesses, like Stitched, to grow and I’m delighted that we’ve been able to take part in this round of funding.”

The Enterprise M3 Funding Escalator is £10million initiative funded by Enterprise M3 LEP. The escalator, which includes an expansion loan scheme, a trade finance loan scheme and an equity growth fund, provides eligible companies with loans and equity funding between £50,000 and £300,000 for activities that will deliver high-growth and employment opportunities across the EM3 area.

A food & drink producer based across Lincolnshire has secured £250,000 to upgrade its production facilities, create eight jobs and service its growing customer base.

Wild Jacks Ltd (“Wild Jacks”) secured the finance from Midlands Engine Investment Fund (MEIF), provided by The FSE Group Debt Finance Fund and backed by the Recovery Loan Scheme (RLS). The MEIF funding will help to upgrade the company’s production facilities and create eight new jobs in the next year.

The investment will also allow the company to increase capacity in its existing events catering facilities, refurbish the premises and service new national contracts.

Founded in 2020 by Stuart and Joanna Hancock, Wild Jacks sources high-quality foods, bakery and meat products from Lincolnshire and operates multiple business lines, working with local producers, arable and meat farmers to sustainably provide these high-end products to a range of customers.

Wild Jacks is home to a number of brands including Odling's Butchers of Navenby, Welbourne's Wine & Deli, Welbourne's Bakery and their most recent acquisition, JH Starbuck (Baker & Caterer).

Stuart Hancock, Founder of Wild Jacks, said: “Lincolnshire has a proud history of agriculture and thanks to this investment, we will be able to accelerate our growth plans to offer high-quality, sustainable and local produce to a national range of customers. It has been great working alongside Leo and The FSE Group’s Midlands team, the funding arrives at a really important time for the business as we scale up our operations to service our growing customer numbers."

Leo Magee, Investment Manager at The FSE Group, which manages the MEIF Debt Finance Fund, adds: “We were impressed by Wild Jacks’ track record of rapid growth. The team boast senior personnel with significant experience in the industry. Additionally, the company has an impressive suite of business lines with a focus on providing the best locally sourced products. We are delighted to be able to offer this funding and look forward to working with Stuart, Joanna and the team to ensure they reach their goals for growth.”

Lewis Stringer, Senior Manager, UKN at British Business Bank, said: “This latest MEIF deal, backed by the Recovery Loan Scheme, will allow Wild Jacks to upgrade its production facilities, creating new jobs and supporting the business with its growth plans. This is another example of the region’s thriving food and drink sector. We would encourage other local businesses seeking to innovate and grow, to consider the options available through MEIF funding.”

Sarah Louise Fairburn, Chair of the Greater Lincolnshire Local Enterprise Partnership’s Food Board, said: “This is great news for an exciting new Lincolnshire business, and this funding underlines the importance of the food sector to Greater Lincolnshire. Our area is home to some outstanding food producers, from fish to free range pork and from cheese to chocolate. It’s no wonder that a business which champions Lincolnshire produce has become so successful so quickly. The new UK Food Valley will raise the profile of our food sector even higher and make it easier for innovative businesses like Wild Jacks to thrive.”

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.

The FSE Group, MEIF Debt Finance Fund provides loans between £100,000 and £1.5million to help growing SMEs across the Midlands region.

A London based contemporary hair care brand has secured £550,000 from the Greater London Investment Fund to support its range expansion. The funding will enable the brand to recruit a number of new employees over the next three years.

Champo, whose name comes from the Sanskrit word for shampoo is influenced by the ancient principles of Ayurveda, meaning their range is natural and sustainable as well as being vegan and cruelty free. The products are made without the use of silicone, sulphates or parabens.

Using knowledge passed on by the company founder’s grandmother, the combination of oils and techniques treats and restores hair. Though this knowledge originated in India, the shampoos are designed in the UK and produced in Dorset, with each botanical being rigorously researched and tested. The range is currently stocked in Harrods and is a Marie Claire Hair Awards 2021 and INDY BEST/BUY 2021 winner.

Kuldeep Knox, Founder and Chief Executive Officer of Champo, commented: “The funding has come at a really important time as we grow our business to meet market demands. The UK hair care market is at a really exciting point in time. People are willing to pay more for superior products, but they expect different things from their shampoo than they did 5 years ago. They want a product which is intelligent, aesthetically pleasing and uses high quality natural ingredients. Our thanks to The FSE Group for supporting our growth ambitions and guiding us through the funding process.”

David Booth, Investment Manager for The FSE Group, which manages the £55 million GLIF debt fund on behalf of Funding London, commented: “We were impressed by the drive and determination of Kuldeep who has already established a thriving brand in a high growth market segment. Champo is typical of the innovative high growth businesses we seek to support and we look forward to supporting Kuldeep through the next stage of business growth.”

Maggie Rodriguez-Piza, CEO at Funding London, added:“We are delighted to support Champo’s team expansion and their growth ambitions through GLIF. Kuldeep has built a successful ethical brand in less than three years which goes from strength to strength. We are excited to be part of their journey.”

GLIF is a £100m initiative to help address the SME finance gap in Greater London, promoting economic growth through enterprise and an inclusive and sustainable economy. £55m of debt funding is available, via loans between £100,000 and £1m, to early-stage and established SMEs looking to scale-up and realise their growth ambitions. GLIF is financed through the European Investment Bank (EIB), European Regional Development Fund (ERDF), London Waste & recycling Board (LWARB) and Funding London’s Legacies.

Award-winning ARC Marine has secured a £1m equity investment from the Cornwall & Isles of Scilly Investment Fund (CIOSIF), as part of a larger £2m-plus funding round.

The deal was led by the FSE Group, the appointed fund manager for CIOSIF, with the investment enabling ARC (Accelerating Reef Creation) Marine to create at least six new positions over the next three years as the business continues to expand its operations.

Human activity is exacerbating the effects of climate change globally, with major impacts on ocean health. ARC Marine provide sustainable solutions to combat these subsea impacts.

Since 2015, ARC Marine have been developing and creating nature-inclusive products using recycled materials. The company’s first product – Reef Cubes – are the only carbon-neutral, plastic-free solution for marine habitat restoration in the world, and a sought-after solution for various global marine projects.

Regionally made using their propriety non-toxic concrete, their products are used in a variety of marine applications across aquaculture, coastal defence, reef conservation, eco-engineering and sub-sea protection. They can help reduce the carbon footprint of deployments by 90%, naturally merging into ecosystems and negating costly, often damaging decommissioning activity.

In this way, ARC Marine aims to have an environmental, economic and societal impact across the South West and beyond.

Tom Birbeck, Co-Founder & CEO of ARC Marine commented: “This funding is critical to ARC Marine being able to expand production in Cornwall, enabling us to accelerate growth to meet increasing demand from the marine renewables sector globally, as well as provide opportunities across our region. Having supportive investors such as CIOSIF will be key to underpinning our aspirations of leading the world in protecting and enhancing marine habitats from necessary man-made intervention.”

Meg Salt, Investment Manager at The FSE Group, added “With the growing global focus on carbon net zero and ocean health, ARC Marine is well placed to disrupt and exploit the emerging market for nature-inclusive design habitat enhancement and to replace traditional unsustainable subsea technologies. Their products can enhance and rebuild marine habitats, restoring biodiversity, while minimising the carbon footprint to bring their products to market. We look forward to working with Tom and helping the company achieve their expansion plan.”

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).

Ken Cooper, Managing Director from the British Business Bank, said: “We’re delighted that we are actively supporting sustainability and innovation through the British Business Bank’s regional funds. With the environment high on the global and regional agenda, tackling biodiversity loss is a priority on land and sea. ARC Marine are showing how it is possible to leave a sustainable marine habitat benefit as a positive legacy for future generations.”

John Acornley, LEP non-executive director and chair of the CIOSIF Advisory Board, said: “It is great to see ARC Marine at the forefront of eco-engineering, supported initially by Cornwall’s Marine-i technology innovation project and Plymouth University to develop their unique product for global markets, and now accelerated by CIOSIF’s investment. This is an impressive solution to a global problem and it is fantastic to see Cornwall leading the charge.”

Craig Dudenhoeffer, Chief Innovation Officer, Sustainable Ocean Alliance and Co-Founder of the Ocean Solutions Accelerator: “Sustainable Ocean Alliance (SOA) is dedicated to restoring the health of the ocean in our lifetime. We are delighted to see ARC Marine, one of our 45 alumni start-ups, complete this successful funding round. We are thrilled to continue supporting ARC Marine as they develop solutions for improving the well-being of our ocean.”

Advisers on the transaction were: Field Seymour Parkes (FSE legals) and Stephens Scown (ARC Marine legals).

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

Read more about ARC Marine at https://www.arcmarine.co.uk/

Case study

Nottinghamshire-based halal baby food manufacturer, For Aisha Baby Foods (For Aisha), has received a £400,000 investment to develop new product ranges and meet overseas demand.

For Aisha received the funding from the Midlands Engine Investment Fund (MEIF), provided by The FSE Group Debt Finance Fund and backed by the Coronavirus Business Interruption Loan Scheme (CBILS). This follows on from an initial equity investment from the MEIF East & South East Midlands Equity Fund, managed by Foresight Group.

The company, which operates out of Edwalton, will use the funding to accelerate For Aisha’s expansion plans, initially recruiting a Commercial Director to develop its UK business as an immediate priority as well as to take the brand into new overseas markets, whilst the further additional two positions will strengthen the business as it grows. The finance will also allow it to focus on increasing stock levels to meet current UK and overseas demand, whilst developing new products to add to their range.

For Aisha is currently the only major commercial certified brand of Halal and Tayyib baby food in the UK. Its main aim is to help infants to broaden their tastes when solids are introduced, with blended ingredients incorporating gentle spices. The business has won 20 national food awards, including the “Made for Mums” and “World Food Innovation” awards.

Joy Parkinson, Executive Chair of the business said: “Thanks to The FSE Group for guiding us through the funding process. We are really looking forward to strengthening the team, building stock which will allow us to meet both our supermarket and online shop orders.

The funding will also enable us to conduct research to develop exciting new recipes aimed at older toddlers. We are really looking forward to the range extension and getting more toddlers experiencing lots of different tastes from our selection of varied meals.”

Ann Marie McFadyen, Investment Manager at The FSE Group, which manages the MEIF Debt Finance Fund, added: “For Aisha is an established brand with a strong existing client base. The range is readily available in leading supermarket chains as well as directly from their website. The business has the capacity to ramp up the production of their products to meet the growing demand for their brand. We look forward to seeing the brand go from strength-to-strength.”

Lewis Stringer, Senior Manager at the British Business Bank, said: “The Midlands Engine Investment Fund is committed to supporting growth in Midlands’ businesses, with The FSE Group providing further follow-on funding to help For Aisha expand its food product offering and secure additional market opportunities. We’re delighted to see that MEIF has already backed a number of innovative businesses in the region’s thriving food and drink sector.”

Will Morlidge, Interim Chief Executive at D2N2 LEP said: “For Aisha is an amazing success story and a great example of an innovative firm investing in new product lines to support their growth ambitions. I’m delighted the Midland Engine Investment Fund is continuing to improve productivity and support job creation across the region.”

The Coronavirus Business Interruption Loan Scheme (CBILS) was managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy (BEIS). The scheme ended on 31 March and has been replaced by the Recovery Loan Scheme.

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.

The FSE Group, MEIF Debt Finance Fund provides loans between £100,000 and £1.5million to help growing SMEs across the region.