A business specialising in the design and manufacture of pioneering surveillance equipment is the latest company to secure investment from the Enterprise M3 Growth Fund.
Winchester based Observant Innovations has created a camera that successfully records 360° panoramic imagery at a quality high enough to be used for evidential purposes. Its mobile ‘Patrol’ camera, which can be mounted to a vehicle roof, is already being used by a number of police forces worldwide and the company is now seeking to fully establish itself as a preferred supplier to this market on a global basis.
John Scholes, Observant’s Executive Chairman and Co-Founder, says: “up until now 360° recording has only been possible either by stitching multiple images together or with the use of a fish eye lens, both of which produce imagery of an inferior quality. Our ability to capture 360° HD visual documentation during patrols, pursuits and incidents that can then be used in evidence gathering is ground breaking.”
In order to take advantage of this unique position and scale the business in line with the market opportunity, Observant Innovations has raised equity funding in a round led by the Enterprise M3 Growth Fund alongside private investors. This will allow accelerated sales and marketing activity together with additional research and development work.
Julie Silvester, Head of Equity Funds at The FSE Group, which manages the Enterprise M3 Growth Fund on behalf of Enterprise M3 LEP, adds: “This is a compelling opportunity with potential for high growth in markets across the globe, having already secured clients in Europe, the Middle East and South East Asia. Furthermore, there is a good product development pipeline for new verticals including leisure, retail, military and maritime markets. We look forward to working with John and the team to help Observant reach their growth plans.”
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.