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

A company providing a platform which enables people to buy nightclub and event tickets via their smartphones, is the first to receive investment from a fund set up to support businesses that have the potential to bring job creation and economic prosperity. The cornerstone investment from the Coast to Capital Growth Equity Fund is part of a larger funding round – the company’s third round to date – which also includes monies from The FSE Group’s South East Seed Fund and Angel Club, as well as other investors.

Launched in October 2013 in response to the founders’ own frustrations around nightclub entry, FIXR offers a paperless and cashless system for purchasing tickets both in advance and last minute. The real-time updates available through the platform mean that nightclub staff and event organisers can see live ticket sales information and manage capacity more easily.

Nick Stone, FIXR’s CEO and co-founder, says: “Our app appeals to the tech-savvy, on-demand generation who increasingly expect to be able to make instant purchases and connections whilst on the move. This investment is a major step forward that will help us to grow our team and implement a host of exciting new features to benefit both consumers and event organisers.”

Since launching FIXR in London just over a year ago, the company has gained momentum and has worked with some major brands including Ministry of Sound, GetTaxi and LG. It is now operating in four cities and rolling out its services across the UK, with plans to launch internationally in the future. This marks the first investment from the Coast to Capital Growth Equity Fund, which is part of the Coast to Capital Funding Escalator, supporting businesses across parts of Surrey and Sussex. FIXR will be relocating to Brighton in the New Year.

Avent Bezuidenhoudt, Senior Fund Manager at The FSE Group, which manages the Coast to Capital Growth Equity Fund on behalf of the Coast to Capital Local Enterprise Partnership (LEP) comments: “With a strong management team, an impressive list of clubs on offer and partnerships with key players, FIXR is ready to take the next steps in rolling out its offering. It has an exciting pipeline of developments planned for the app which will further enhance its relevance and appeal to both event organisers and their end users.” The Coast to Capital Funding Escalator is a £5million initiative funded by Coast to Capital LEP. 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.

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.

A Hampshire business delivering wireless internet solutions is the first to benefit from a government funded scheme to support economic growth and job creation across the region.

EMS Ltd, based in Liphook on the Hampshire-Surrey border, has successfully secured a £200,000 expansion loan from the Enterprise M3 Funding Escalator, which will enable it to create 10 new jobs. EMS has developed i-MO (Mobile Office) Optibond, a router and associated management software that provides businesses with an alternative to fixed wire connectivity. In the UK this is most relevant for sectors where temporary or remote locations are common, such as construction, marine, broadcasting and mobile public and health services. For international markets it offers a solution where fixed line infrastructure is poor or prohibitively expensive.

EMS founder and CEO, Andrew Lambert, explains: “In the construction industry, it takes on average 3 months for internet connectivity to be provisioned at a new site. With i-MO we can achieve a fully networked site, enabling connection with other sites as well as fixed offices, in just 48 hours and at a considerably reduced cost. This funding will now allow us to roll-out our proprietary technologies across additional sectors within the UK and, significantly, to increase our presence in global locations where there is an evident and growing market for our product.”

Much of EMS’s expansion will now focus on Eastern Europe and South East Asia, where a lack of fixed wire infrastructure means that this rapidly increasing market is expected to grow from its current $8.5bn to $20bn by 2018. Furthermore, traffic from mobile devices is set to overtake traffic from wired devices in the next three years and it is anticipated that by 2018, 65%-75% of this will be from these regions.

James Edwards, Senior Fund Manager at The FSE Group, which manages the funding escalator on behalf of Enterprise M3 Local Enterprise Partnership (LEP) comments: “Andrew is leading a strong team with extensive technical and industry knowledge who have developed a product that stands out from its competitors, none of which offer a like-for-like solution. There is now an opportunity for EMS to achieve substantial growth in current market conditions and we are excited to support them in realising this prospect.” The Enterprise M3 Funding Escalator is a £5.5m initiative funded by Enterprise M3 LEP. The escalator, which includes an expansion loan scheme and a growth equity 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 the Enterprise M3 Funding Escalator please visit: https://www.thefsegroup.com/enterprise-m3-funding-escalator or contact James Edwards james.edwards@thefsegroup.com tel: 01276 608531.