With a family history of stonemasonry dating back to the 1600s, Wood for Stone owner and 6th generation master stonemason, Andrew Wood, is now bringing production at his Manningtree business into the 21st century with the help of an East of England Regional Growth Loan.

With a diverse range of natural stone products that includes fireplaces, staircases, kitchen worktops, and headstones to name a few, the company holds experience and expertise in all aspects of stone which sets it apart from the more limited competition. This wide service offering together with a good mix of corporate and private clients saw demand rise beyond the means of the business during 2016, as Andrew explains: “Our team of four skilled craftsmen developed an exceptional reputation for producing work of the highest quality across a broad range of products and services. This brought a welcome increase in enquiries both from returning customers and new contacts as word of mouth referrals spread. However, last year we reached a point where we were having to turn work away – a situation that no business wants to be in – so we decided to invest in changes that would boost capacity to meet that demand plus allow room for further growth.”

Finance East provided Wood for Stone with a £160,000 loan from the Regional Growth Loan Scheme (RGLS) to purchase a state of the art cutting machine and assist with costs to move the business to a larger unit. The machine has sped up some of the operations that were traditionally done by hand whilst also freeing up skilled employees – including Andrew’s daughter, Laura, the 7th generation stonemason in the family – to produce more of the detailed stonework.

This should enable production to double this year, which will be supported with the addition of two further stone cutters. Stuart Ager, Senior Fund Manager at Finance East which manages the RGLS, says: “By taking steps to increase capacity, Andrew can now look to expand the current market base further, particularly focusing on the commercial sector where there is a significant opportunity to work even more closely with quality builders seeking high end finishes. Wood for Stone’s strong working relationships with suppliers together with its extensive skillset and sector knowledge means that it is well positioned to deliver against the varied needs of its growing list of clients.”

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.

Following a period of compelling growth, a business helping retailers better understand and engage with customers has secured further funding from the Coast to Capital Growth Equity Fund as part of a £1.5million funding round from both new and existing shareholders. Yocuda was set up in 2011, to provide a digital receipt service to retailers. Over the last six years this has been developed into a sophisticated offering; using leading technology Yocuda helps retailers not only capture customer data, but also fully analyse and understand that data to enable advanced customer engagement. Now boasting a number of the UKs most prominent high street retailers as clients, the company is in a position of strength with monthly revenues having grown by more than 600% since the first investment from the Coast to Capital Growth Equity Fund less than two years ago. An impressive 483million e-receipts have been processed by Yocuda for more than 35 million unique customers across 20 separate countries. Andrew Carroll, Yocuda Founder and CEO, says: “As the business moves forward we are pleased to continue this journey with the support of our investors and look forward to continuing to work with them to realise our next set of goals for the growth of the business.” The £100,000 from the Coast to Capital Growth Equity Fund will be used, alongside other funds raised including investment from the FSE Investor Network, to create new jobs to meet increasing demand and grow the business further. This will include a number of developer jobs in Croydon. Avent Bezuidenhoudt, Senior Fund Manager at The FSE Group, which manages the Coast to Capital Growth Equity Fund on behalf of Coast to Capital Local Enterprise Partnership (LEP) adds: “With a highly strategic view of the market and the opportunity for Yocuda, the executive management team is continuing to achieve revenue growth and market acceptance both in the UK and abroad, leaving the company well placed to create shareholder value. We are delighted to be supporting them again in this latest funding round. 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 £500,000 for activities that will deliver high-growth and employment opportunities across the Coast to Capital region.

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.

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.

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 Chillistick visit www.chillistick.com or tel 0203 432 9412.

A company offering an innovative cyber security solution for small-scale networks is looking to expand with the help of an investment from the Enterprise M3 Growth Fund. The £150,000 investment is part of a larger funding round that will see RazorSecure establish itself within the transport sector, targeting in-travel infotainment systems within aeroplanes, cars and trains.

The software’s small footprint means it is suitable for small systems without it affecting the operation of the underlying device, making it perfect for in-flight entertainment that is unconnected to a large network. Furthermore, it is unique in the fact that it can detect a hack and close down the relevant system in under a minute, leaving a hacker no time to search for valuable data.

Alex Cowan, CEO and CTO at Razorsecure says: “with hacks becoming more sophisticated, and systems more interconnected, it may be possible for a hacker to access a plane’s controls via vulnerabilities in the entertainment system, or a ship’s navigation system via the GPS signal. With driverless cars on the horizon, this particular threat will also affect the automotive industry. Our protected IP is ground-breaking in the speed at which it can identify a threat and take action to stop it, increasing the overall security of transport networks.”

Following an introduction from SETsquared, and help from the EM3 Growth Hub the funding round was originated by The FSE Group, which manages the Enterprise M3 Growth Fund on behalf of Enterprise M3 Local Enterprise Partnership and led by Breed Reply, the Internet of Things investor and advanced incubator. Ralph Singleton, fund manager at The FSE Group comments: “We are delighted to have facilitated this deal that sees RazorSecure acquire the funding needed to take it to its next stage of growth. The company founders have identified a gap in the IT security market that they have been able to fill with their innovative IP. We look forward to working with Alex and the team to ensure that the company takes advantage of the opportunities available to truly reach its potential.”

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 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 RazorSecure visit www.razorsecure.com.

Berkshire based software company Vigilant Applications has successfully completed its latest investment round, providing the necessary capital to fund further expansion of sales and operations resources in support of the company’s growth trajectory. The funding was led by The FSE Group with a combination of equity from the Thames Valley Berkshire Growth Fund, a group of business angels from the FSE Investor Network and others.

Vigilant Applications is a leading provider of software solutions that help organisations meet their IT Governance, Risk and Compliance obligations, mitigate exposure to risks arising from accidental or malicious actions of employees and identify fraudulent activity of various types. The company currently operates across a range of sectors - most notably Police, Healthcare and Financial Services. Its technology is also applied to Retail for identifying unusual or potentially fraudulent staff behaviour at point-of-sale terminals.

Andy Craig, Director at Vigilant Applications, “The potential market for our products is huge. With increasingly stringent Governance, Risk and Compliance obligations being placed on organisations in both the public and private sectors, demand for solutions that can help ensure standards are met without unduly impeding normal workflow continues to grow - and this is exactly where we sit. In Retail our products are geared towards the elimination of preventable loss and, in turn, protecting retailers’ operating margins. Since providing some initial debt funding, FSE have been very supportive and encouraging of our business. It’s refreshing to work with a funding partner that understands the challenges facing businesses going through significant but, at times, hard to predict growth.”

Bradley Jones, Fund Manager at the FSE Group, “We have known and worked with Vigilant Applications for a number of years. The company received initial debt support from us in 2013 and have since gone on to  increase their sector reach significantly, with a growing client base that includes a number of high profile organisations . This coupled with the company’s expanding partner base, makes us believe that this is the perfect opportunity for an equity investment. We wish the company all the best, and look forward to working with them in the future”.

About Vigilant Apps: Vigilant Applications Limited is a specialist provider of User Behaviour Management solutions. Its products detect and prevent unintentional, malicious or fraudulent activity, ensure business process integrity and secure regulatory, legislative and internal policy compliance - all proven by an irrefutable audit trail. Contact: mike.williams@vigilantapps.com

A company making waves in driverless car technology is setting its sights on global success with the help of an investment from the Enterprise M3 Growth Fund. Bedford born company, iAbra, are expanding in a move that will see Guildford become their sales and marketing base, creating a number of new jobs in the process.

The iAbra technology uses deep learning algorithms that enable computers to learn in a human like way. When applied to Machine Vision (MV), machines can process images from internal cameras and sensors to ‘see’ and interpret the world around them. For driverless car technology this means identifying objects in the traffic environment and responding appropriately e.g. the car ‘learns’ that a pedestrian at a zebra crossing means the car must stop. Already working with some of the industry’s key players in the automotive industry,

iAbra’s Machine Vision (MV) technology is fast gaining traction as a platform to be reckoned with in this field. Ian Taylor, iAbra CEO and co-founder, says: “Over the past year we have spent time really focusing on the application of our technology. Although there are a number of target markets, including surveillance and defence, the automotive industry is an exciting place to be right now with the race to driverless cars in full throttle. We have established strong relationships with some global companies who are equally excited by how our technology can help them be at the front of this race.”

This latest funding round, which will include further funding from the Bedford EIS Fund and angel investors, will facilitate the rapid expansion which the business is currently facing. The investment will be used to grow the infrastructure and increase headcount in both Bedford and Guildford.

Avent Bezuidenhoudt, Senior Fund Manager at The FSE Group which manages the Enterprise M3 Growth Fund and the Bedford Business EIS Fund, comments: “The FSE Group has been working with iAbra over the last 18 months following our first investment and we are delighted to be investing again in this latest funding round. By positioning themselves in the driverless car market they have found a niche with extremely high growth potential and we look forward to helping them maximise this with our continued support.”

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. The Bedford Business EIS Fund was developed as a practical initiative for sustainable job creation in Bedford. This latest round of finance for iAbra leaves the fund fully invested.

With 20 years experience in the security surveillance industry, Paul Elsey was well qualified to set up his own company designing and manufacturing security cameras and positioning systems in 2006. As a ‘white label’ or OEM (Original Equipment Manufacturer) goods supplier, Silent Sentinel was able to focus 100% of its efforts on developing a top quality product range for this expanding industry.

Paul says: “As designers and engineers, it has always been essential to us to develop innovative products which, in terms of their design, build quality, capabilities and performance, are at the forefront of what is available in the market. Working on an OEM basis allowed us to concentrate our efforts on these areas, without having to worry about the branding and marketing of the products.”

As such, Silent Sentinel now have a product range that rivals its competition with USPs to be reckoned with, including the only positioning system of its kind outside the military to use robotic technology, and a camera so robust it was the single design of several installed at Heathrow Airport to be unaffected by snow during the winters of 2010 and 2011.

Paul adds: “We really are very proud of what we produce here, whether it’s these off the shelf products or bespoke contracts that require a totally unique system design and build like one we created for the 2012 Olympics in London. R&D is very important to us and we’re constantly looking to improve on what we’ve created before, and the fact that we design, build and manufacture our products here in the UK is, we feel, an added selling point that many companies cannot claim.”

However, changes in market conditions over the last two years have led Paul and the team to a change in strategy; finding that the OEM approach was no longer offering the opportunities it once did, Silent Sentinel took the plunge in launching itself as a branded supplier direct to the end user market. This has brought with it new challenges, as the team now concentrate on revealing themselves to customers who may well have experience of their products, but without knowing it.

“We knew deciding to go straight to the market ourselves was the right decision and were confident that once the customer base could identify us as the owner of our products, they would want to buy from us. But you shouldn’t underestimate how much investment, both in terms of time and finances, such a task requires. Furthermore, we found that our bank wasn’t willing to lend additional money for this activity.”

At this point the Silent Sentinel’s accountant pointed them in the direction of the Regional Growth Loan Fund, managed by Finance East who agreed a £200,000 loan to support expansion of the marketing and sales strategy to enhance brand awareness of the company, as well as to assist in up-front costs of delivering a number of confirmed large-scale bespoke contracts.

Stuart Ager, Senior Fund Manager at Finance East commented: “We were impressed with Silent Sentinel’s track record – the team boast senior personnel with significant experience in the market sector and a good mix of technical and business skills. Furthermore the company have an extensive product suite with ownership of all intellectual property rights, together with a strong future product development roadmap. We are delighted to be able to offer this funding and look forward to working with Paul and the team to ensure they reach their goals for growth.”

London and Suffolk based creative agency Jacob Bailey Ltd, which incorporates sister company White Space Design, has been successful in gaining a £100,000 loan from the Regional Growth Loan Scheme (RGLS), managed by Finance East and financed by the East of England Development Agency (EEDA).

The award-winning agency has an impressive portfolio of direct, digital, brand and strategic marketing and PR credentials. It has a strong, highly skilled and experienced creative and account management team, which has helped the business to grow successfully since it was established 13 years ago. The 2008 recession impacted the business, but a combination of strong client loyalty and reputation for delivery enabled the company to weather the economic conditions and turnover has now recovered, putting them firmly back on the growth track. The loan was used to assist in the buyout of a minority shareholder by founder Shaun Bailey and the key management team of Rob Manning, Neil Prentice, Will Wright and Mark Ledger. Jacob Bailey is currently experiencing exceptional growth on the back of a number of new contract wins, resulting in a healthy cash flow and an appetite for strategic acquisitions in their sector.

Mark Ledger, Finance Director of Jacob Bailey, said: “It’s good to know that even in these times of economic austerity there are organisations that successful businesses can approach for finance to assist with growth and expansion. We’ve had a fantastic year and this loan will help to ensure we fulfil the potential that 2012 has to offer.”

Stuart Ager Senior Fund Manager, Finance East Loan Management, commented: “We are delighted to be supporting a company with such a strong track record and customer base. Seeing such a positive cash flow following their recovery from the recession’s impact gave us no doubts as to the viability of the business and their ability to service the loan that they required. Finance East wish the team all the best and success in the future.” If you’re interested in finding out more about the Jacob Bailey Group, visit www.jacobbailey.com and www.white-spacedesign.com or call 01473 215656. - Ends - NOTES TO EDITORS: White Space PR offers highly creative but business focussed public relations. Contact Richard Wood on 01473 215656 or e-mail richard@jacobbailey.com