A Norfolk business has secured a £155,000 investment from the East of England Regional Growth Loan Scheme, managed by The FSE Group, which will support the purchasing of new equipment, further product development and the hiring of 4 new staff members. 

Lazerthrust are the developers of next generation marine technology products, which are 3D printed and assembled from their site in Norwich. Their products which are currently being developed include low drag electric marine craft that can travel from Norwich to Amsterdam in two hours, without using stored energy, and small leisure craft for inland or light coastal use. 

Alongside their marine work, Lazerthrust also use their 3D printers to produce equipment for major UK water utility companies. To ensure that the equipment is of high quality and most importantly of high strength, the business built their own 3D printers using an entirely new approach that has never been utilised in their sector. To date, printers capable of making products that are even close to meeting the requirements and quality that come as standard to Lazerthrust customers are not available to purchase.  

Maurice Briggs, Founder and CEO at Lazerthrust said: “This funding comes at a key point in time as we continue to develop our existing products whilst innovating new problem solving equipment. 3D printing is a fantastic solution, as it is limited only by your imagination. The eco benefits are also outstanding. We are extremely proud that a high proportion of our products are recyclable with some of the equipment we produce being 100% recyclable. Working in the marine sector means this is especially important as we are well aware of the damage that man made waste is having on our environment. Our thanks go to Simon and The FSE Group for helping us secure this funding which will enable us to continue pioneering new approaches by developing our products and increasing our staff team.”  

Simon Elliott, Investment Manager, at The FSE Group, added: “Lazerthrust is an exciting company that we are glad to be supporting as they reach into existing markets and provide them with products that offer higher performance and sustainability than those traditionally available to them. Maurice and his team bring a passion for innovation to both the marine and utility company sectors, and the eagerness from leaders in these fields to collaborate with Lazerthrust demonstrates the increasing desire for a fresh perspective. We look forward to seeing the roll out of even more pioneering solutions and are delighted to be a part of the company’s growth journey.” 

The Regional Growth Loan Scheme (RGLS) is managed by The FSE Group on behalf of Local Enterprise Partnerships in the East of England. Loans between £50,000 and £500,000 are available to established incorporated businesses based within the East of England that have a minimum annual turnover of £100,000. The funding can be used for a range of growth activities as well as to service short to medium-term trade and contract finance requirements. The scheme aims to stimulate job creation and economic prosperity and supports SMEs that have the potential to deliver high-growth and employment opportunities across the East of England region. 

Uali, an AI-powered robotics company that specialises in drone surveys of energy assets, has secured a £625,000 investment by the Cornwall and Isles of Scilly Investment Fund, from appointed fund manager The FSE Group.

The investment, which is part of as part of a larger £1.55 million funding round, will be used to establish the company’s UK office at the Newquay Aerohub, which will include a drone testing facility, bringing 20 jobs to the area over the next three years.

Focussed on the oil, gas and sustainable energy sectors, Uali offers a ‘drone-as-a-service’ solution to the costly problem of monitoring and reporting on the maintenance of difficult to reach sites such as oil rigs and wind farms.

Data is collected using drones, capturing images from clients’ operational sites. A real time analysis powered by AI records potential issues by identifying abnormalities from the information received and can even prepare an automated equipment parts order list.

Uali’s innovative end-to-end service is proving popular with market-leading companies such as Shell, Telefonica and YPF.

Ian Bogado, CEO at Uali, commented: “We’re a global company who see positioning ourselves in Cornwall as a smart move. It will help us seek out local talent and deliver what we need in terms of research and development. Additionally, Cornwall has five airfields available for us to test our existing and new products. We’re really excited to expand our UK operations and get our new team on board to help us further disrupt existing tech in a very fast-growing market.”

Anna Staevska, Investment Manager at The FSE Group, added: “Uali’s technology offers a real solution to a problem faced by anyone with a hard-to-reach asset, meaning their growth potential is fantastic. We’re delighted that such a strong company has seen the many advantages of basing themselves in Cornwall. Uali’s proven track record, agile team and impressive customer base makes them an attractive investment proposition and we are glad to welcome them to our growing CIOSIF portfolio.”

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 was established by the British Business Bank in partnership with the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP).

John Acornley, LEP non-executive director and chair of the CIOSIF Advisory Board, said: “Uali combines artificial intelligence, robotics and unmanned aerial vehicles to turn field data into a valuable commodity. Their disruptive technology has many applications and we’re delighted the fund has enabled Uali to set up a new base in Cornwall.”

Paul Jones, Senior Manager at the British Business Bank, said: “The investment by CIOSIF has helped attract an innovative international business to Cornwall, that is committed to recruiting locally and developing a collaborative programme of research and development in the region. We look forward to its further growth.”

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

Cornwall based Refined Brands, the digitally native portfolio of ethically sourced, natural and sustainable British brands, has completed a £6.75 million equity funding round, including £1.5 million of investment by the Cornwall and Isles of Scilly Investment Fund (CIOSIF) from appointed fund manager The FSE Group.

The deal represents the largest single investment by CIOSIF to date and is the largest by funding round size with CIOSIF participation.

The funding, which includes investment from new and existing private investors, will be used to further accelerate the growth of its portfolio companies, both in the UK and internationally which includes:

Celtic & Co: Founded by Nick and Kath Whitworth in 1990, and headquartered in Cornwall, Celtic & Co. is a pioneering retailer of ethically sourced, natural sustainable knitwear, footwear and outerwear. The brand continues to stay true to its heritage, with in-house manufacturing of its footwear continuing to take place in Newquay, Cornwall.

Frugi: Established by Lucy and Kurt Jewson in 2004, and headquartered in Cornwall, Frugi has built an exceptional reputation for sustainable childrenswear, using organic cotton throughout their collection as well as designing outerwear made from recycled plastic bottles.

Turtle Doves: Founded in 2009 by Kate and Graham Holbrook, and headquartered in Shrewsbury, Turtle Doves uses post-consumer textile waste to create beautifully upcycled new garments and accessories, all manufactured locally to Turtle Doves’ Shropshire base.

Kettlewell Colours: Founded in 2004 by Melissa and John Nicholson and headquartered in Somerset, Kettlewell Colours was created to enable women to shop their best colours all year round, working with small, family-run factories in Portugal, Turkey and the UK who share their environmental values.

Ben Barnett, Chairman of Refined Brands, said: “The creation of Refined Brands was motivated by a desire to build a differentiated family of sustainable fashion brands, alongside founders and teams that shared our passion and vision. I am delighted to welcome CIOSIF as investors into our expanding group. We value their experience in supporting businesses throughout the region and believe their input will help us achieve our ambitious goals for organic growth in the UK and internationally.”

 Anna Staevska, Investment Manager at The FSE Group, added: “We are delighted to be supporting such a strong business that is headed up by an immensely passionate and experienced team. The group will be further strengthened by the recruitment of 15 new staff members across the manufacturing, customer services and warehouse teams, supported by funding from CIOSIF. The sector is wide open to Refined Brands, as the ethical fashion market is growing much faster than the core UK retail industry, and Cornwall is fast becoming a market leading region in the sustainable fashion sector. We look forward to seeing the business develop even further.”

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 was established by the British Business Bank in partnership with the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP).

John Acornley, LEP non-executive director and chair of the CIOSIF advisory board, said: “Cornwall’s growing reputation as an incubator of tech-savvy, ethical businesses is further boosted by this deal which is helping to establish a new force in the world of ethical and sustainably-sourced fashion.”

Paul Jones, Senior Manager at the British Business Bank, said: “This is the Fund’s largest single investment to date and the biggest equity deal CIOSIF has supported. Driving sustainable growth is at the heart of our mission and Refined Brands is another example of a Cornwall-based business that has put sustainability at its core.”

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

A coach and bus company that provides passenger services and holiday excursions has received a £180,000 investment from Finance Yorkshire.

Barnsley-based Globe Holidays runs public buses across West and South Yorkshire and employs more than 60 people.

The investment, from Finance Yorkshire’s Business Loan Fund, supports the acquisition of new vehicles and on-board ticketing technology.

Globe Holidays also operates private hire and school transport services, along with a UK holiday programme and day excursions. The company runs travel shops in Barnsley, Bradford and Rotherham.

Following the launch of several new routes this year, Globe Holidays has recruited 18 people and added 11 vehicles to its fleet. The company now operates 28 buses and 16 coaches.

Scott Woolley, managing director of Globe Holidays, said: “The investment from Finance Yorkshire comes at a time of rapid expansion for the business. They recognised our need for gap funding and quickly developed a good understanding of our business.

“The investment has enabled us to further expand our team and ensure reliable connections for local communities within South and West Yorkshire.

“As more people return to travel, we are looking forward to welcoming them on board our services, where they will now experience the latest in ticket machine technology.”

Alex McWhirter, chief executive of Finance Yorkshire, said: “Our investments are designed to support growing companies to realise their potential and create jobs in Yorkshire and the Humber. This is especially true when traditional finance providers are unable to meet their requirements.

“As the travel industry continues to recover from the pandemic, we are looking forward to seeing Globe Holidays continue to cement its status as one of the region’s leading passenger transport providers.”

Finance Yorkshire’s Business Loan Fund is part of its wider regional business fund which is expected to provide more than £50m to SMEs over the next five years. Investment is also available from its Growth and Seedcorn Funds.

Thousands of people living and working in rural Cornwall will get access to lightning-fast broadband after local supplier Wildanet was awarded £36 million from the government to roll out new connections.

Two contracts, part of the government’s nationwide £5 billion Project Gigabit to supply hard-to-reach areas with better broadband, have been awarded to the Liskeard-based supplier. It will see up to 19,250 homes and businesses in South West and Mid Cornwall connected.

Work will start today to survey rural homes and businesses from Newquay to Fowey. Building work to connect those in need to the fastest broadband on the market is set to begin as early as this summer.

Project Gigabit is the biggest broadband roll out in British history. It will help communities to seize the benefits of gigabit-capable networks and be ready for the future. It will allow users to work, stream and use multiple smart devices online without a battle against bandwidth and the disruption often experienced with ageing networks.

The investment in the region reflects the government’s commitment to roll out gigabit broadband nationally and will help to create a level playing field for hard-to-reach communities and businesses around the county, bringing with it economic, environmental and social benefits for local people.

As a result of these new contracts, Wildanet expects to create 200 jobs on top of the 150 the company has created in the area already. This will include a range of skilled roles across the build operation - including network design, surveying and partner management - plus engineering and head office roles. There will also be indirect opportunities for local companies such as civil contractors and through the supply chain.

Digital Infrastructure Minister, Julia Lopez, said:
"From Tintagel to Tredavoe, we are investing millions of pounds to connect almost 20,000 homes and businesses across Cornwall to lightning-fast broadband. This will generate growth and opportunity for people in the region’s rural communities.

“The move is part of the government’s flagship £5 billion Project Gigabit programme to spread fast, reliable and fit for the future broadband to rural and remote communities in the UK.”

Wildanet is already investing more than £50 million in an ultrafast broadband network across Cornwall and Devon - bringing fast, reliable internet to homes, businesses and communities. The new 10 gigabits per second (Gbps) network represents a significant technological leap for Cornwall. It is capable of speeds up to 100 times faster than the average internet speeds available in the county.

Wildanet’s Training Academy, and its well-established apprenticeship programme, will also continue to deliver skills to ensure that the jobs created through these contracts can be taken by people from the county.

Helen Wylde, Wildanet Chief Executive Officer said:
“This is great news for remote communities in Cornwall as we continue to connect Cornwall’s homes and businesses to full fibre broadband in non-urban areas, with the economic and social transformation that brings.

“The funding from the Government will help to breathe new life into Cornwall’s rural communities and give people access to the opportunities that gigabit broadband provides. It will also send out a positive signal to remote communities across the country who, to date, do not have the broadband connectivity to benefit from the digital age that many of us now take for granted in our daily lives.

“Wildanet undertakes to deliver on this project using the public funds provided through these awards as a key player for Cornwall, by Cornwall, and of Cornwall. We passionately believe that the funding provided by DCMS for these two vitally important infrastructure projects will assist Cornwall in growing its economy, connecting more people and businesses, and democratising digital services so that everyone can benefit from the opportunities that they present.”

Cornwall Council portfolio holder for economy, Louis Gardner, said:
“We’ve been working closely with DCMS to progress these procurements and it’s good news that the two contracts have been awarded, bringing the benefits of access to ultrafast, full fibre broadband connections to more of Cornwall’s residents. This builds on the legacy of previous investments since 2011 through the Superfast Cornwall programmes, including existing 49% coverage of gigabit-capable full fibre, one of the highest in England for a rural county.”

For more information about this project and to find out if you are in an area that will benefit from this investment, please visit www.wildanet.com/projectgigabit

Sustainable clothing care business, Clothes Doctor is the latest company to be supported by the Cornwall and Isles of Scilly Investment Fund (CIOSIF).

The Truro based business has secured a £500,000 CIOSIF equity investment, as part of a £1 million funding round led by appointed CIOSIF fund manager, The FSE Group.

The round includes investment from start-up accelerator Founders Factory, Childs Farm founder and CEO, Joanna Jensen, and new and existing private investors. The funding will be used to employ an additional 14 members of staff over the next three years.

Originally a service-focused clothing repair business, Clothes Doctor has evolved following high levels of demand, to create and supply eco-conscious laundry care products. Their premium detergents and other ranges are some of the very few products on the market that do not use palm oil or plastic and are plant/mineral derived.

The company’s eco-credentials make it an increasingly popular choice which is backed up by high quality ingredients and beautiful scents courtesy of pure essential oils. The laundry products, which come in distinctive recyclable aluminum bottles, are already sold across five continents and in stores such as Ocado, Harrods, Net-a-Porter and Whistles, and are often used as an alternative to expensive dry cleaning.

To continue their growth both in the UK and overseas, Clothes Doctor will hire new team members into their sales, operations, creative, workshop, PR & marketing, product development, finance and export teams. 

Lulu O’Connor, Founder at Clothes Doctor, commented: “Loving your clothes for longer is our company ethos. Our parents and grandparents knew how to care for their clothes and made them last so much longer than we do today. If people extended the life of their clothes by just nine months they would reduce the carbon, water and landfill footprint of their wardrobe by a staggering 30%. We are delighted to be developing our business so that more people are able to use our vegan products to wash, repair and care for clothes, in the hopes that an undeniable and long-term difference will be made to the sustainability of the fashion sector.”

Meg Salt, Investment Manager, Cornwall at The FSE Group, added: “The all-female team which heads up Clothes Doctor are experts in their field and are full of determination and enthusiasm for what they do. This shows not just in the quality of their product but in the growth they have achieved to date. The effect plastics and other products are having on our world means that there will always be a place for eco-friendly solutions and Lulu and her team are scaling up to ensure that their excellent products are part of the answer to the fast fashion crisis. We very much look forward to seeing where the future takes Clothes Doctor.”

Paul Jones, Senior Investment Manager from the British Business Bank, said: “We’re delighted to be investing in another sustainably-minded Cornish business and to have helped leverage significant additional funding to enable Clothes Doctor grow and create quality jobs in Cornwall.”

John Acornley, LEP non-executive director and chair of the CIOSIF Advisory Board, said: “Clothes Doctor is all about bringing sustainability to the fashion industry by encouraging all of us to care for clothes for longer. The fund’s investment will help drive a larger audience for this ‘slow fashion’ revolution and we wish Lulu and the team well.”

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).

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 
 

Hayle based Triskel Marine, a world leading disruptive technology company in the marine industry sector, is the latest company to receive funding from the Cornwall and Isles of Scilly Investment Fund.

The award-winning business, which trades as Integrel Solutions, completed a £3.2million funding round, which included £1 million from CIOSIF and matched funding from private investors in the United States. The deal follows a £350,000 loan from CIOSIF earlier this year.

The funding will be used to drive the growth of the business internationally, in addition to creating eight new positions from their base in Cornwall. It will also allow the completion of current R&D projects to introduce e-drive and torque boost technology to the Integrel product range.

Triskel Marine’s Integrel technology collects excess energy from a boat’s inboard engine that would otherwise go to waste, storing it in batteries for later use. This energy can then be used around the boat to power lights, ovens, air conditioning, refrigerators and water makers, reducing overall power consumption, lowering marina costs and negating the requirement for noisy generators.

The system is already popular with many of the top boating brands such as Balance Catamarans, Fountaine Pajot, Bali, Lagoon, Outremer and Gunboat, with over 140 vessels already carrying the technology. And it recently won an international DAME Design Award at the global METSTRADE trade show in Amsterdam, with the judges particularly noting the excellence of Integrel’s engineering.

Trevor Howard, Managing Director of Triskel Marine, commented: “Our goal is to become the go-to option for boat builders and owners who seek a lighter, quieter and more power efficient generation choice. We have already established strong relationships in the marine sector and we’ll be building on these in part by developing our technology for larger vessels, and move into e-drive and torque boost which will expand our market and give even more customers access to our innovative tech. This equity funding round is key as it will enable us to hire new local staff to develop our systems, support our clients and ultimately grow our business.”

Ralph Singleton, Head of Funds, Cornwall at The FSE Group, added: “Triskel Marine is an exciting business with healthy and consistent growth in an established yet developing sector. The marine industry is trying to collectively make greener choices and establish eco-conscious practices. Capturing waste energy is an excellent way to reduce energy production with the added benefit of being more cost-effective. Cornwall is a region that is renowned for its focus on climate and environmental issues and we are delighted to see a local green tech company becoming so prominent in its sector.”

Paul Jones, Senior Investment Manager at the British Business Bank, said: “Developing greener sources of power generation will be important for reducing the carbon footprint of the marine sector.  It is good to see CIOSIF investment being used to back this kind of innovation and we wish Triskel Marine every success for the future.  Triskel have been able to use the CIOSIF investment to unlock further overseas investment which is good both for them and the wider Cornish economy.”

John Acornley, LEP non-executive director and chair of the CIOSIF Advisory Board, added: “Our region is renowned for its blue and green economy and in Triskel Marine we see the fusion of the two. Their innovative technology has huge potential to help decarbonise the boating industry.”

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.

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).

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

As we reflect upon the past 12 months, I feel immensely proud of what The FSE Group has helped businesses to achieve. For many, it has been a time to get growth plans back on track following the inevitable impact of the pandemic and it has been exciting to be here providing the funding and support needed. Naturally, we are also aware of the current tougher trading conditions and other funders pulling back, which is why we always understand the market gap – a gap that has widened in the last few months - and we ensure the Funds we manage are there to fill it.   

The business funding we have provided across the regions has played a vital role in stimulating SME growth and we take considerable pride in the fact that the businesses we support have a higher probability of success, i.e. achieving their growth plans.  

This is because our approach is holistic and looks to provide support that is more than money. Our dedicated Investment Managers take pride in knowing the businesses they fund – knowing their product or service and recognising the potential it holds, knowing the management team and how it ticks, knowing their goals and aspirations, knowing their funding needs.  

Across the regions we have invested in 116 businesses this year. With loans and equity investments ranging between £50,000 and £2million, we have supported from the small to the medium of SMEs at different stages of their growth journeys, operating in a variety of sectors.  As an example, our team in Cornwall have been working hard to deploy the remaining CIOSIF funds before the investment period closes at the end of next year; with over £8million invested in 2022, they have supported a number of businesses operating in the marine sector and many with a core focus on sustainability, reflecting the ethos and personality of the Cornish ecosystem. 

Throughout the year our teams have also provided links to expertise, best practice sharing and talks from experts on topics that growing businesses are interested in and will help them on their growth journey. We have provided opportunities for our founders to come together and learn from each other.  

Generating economic impact (including job creation), by providing funding for growth remains at the heart of what we do and we are proud of how we do it. Proud to be a Community Interest Company. Proud to invest where others don’t. Proud to add value. Proud to leverage greater impact. Proud to be different. 

• The Fund has made 856 investments into Midlands’ businesses since 2017
• Additional £301m of private sector investment unlocked by the fund
• Funding supports innovative sustainable companies and improves access to finance in region

The Midlands Engine Investment Fund (MEIF) has now invested over £200m into Midlands businesses since its launch in 2017.

The debt and equity funding options offered by the MEIF have benefitted 595 businesses across the region and has supported SMEs in the creation of jobs, investment into new products and services and wider growth opportunities.

The Fund was launched by the British Business Bank in partnership with Local Enterprise Partnerships, the Midlands Engine and the UK Government with the aim of improving access to finance and the landscape for small businesses in the Midlands.

MEIF funding breakdown:

• Over £200m invested, with £301m of private sector co-investment unlocked
• 856 investments in 595 businesses
• 2,371 jobs created

Businesses in various sectors benefit from MEIF funding, including its ongoing investment in the region's sustainable development and green technology.  

A recent sustainability investment into renewable energy provided debt funding to Nottingham-based Roadgas, to support the company's growth in supplying further renewable gas refuelling stations across the UK.

Birmingham-headquartered I-Phyc received £2.3m to support expansion of its nature-based wastewater treatment solutions through the MEIF's Proof of Concept & Early Stage Fund to create new jobs.

Ken Cooper, Managing Director at the British Business Bank, said: “Our partnership with key regional stakeholders including Local Enterprise Partnerships and our fund managers has played a significant role in reaching this new milestone. Investment by MEIF has been shown to promote resilience, innovation and productivity in supported SMEs and has helped diversify and strengthen the regions finance landscape.  We look forward to continuing this through the next £100m of investment. "

Jon Corbett, Chair of Strategic Oversight Board for the Midlands Engine Investment Fund, added:  “The Midlands Engine Investment Fund provides financing options to smaller businesses with potential in the Midlands. The funding allows businesses to achieve their goals and give entrepreneurs the opportunity to realise their growth ambitions.

“MEIF funding has helped many SMEs contribute to the wider economic growth of the Midlands and its wider economic goals through investment to support safeguarding existing jobs, creating new roles, overcoming challenges faced during the pandemic, and helping the region's businesses to reach their full potential. 

“While we’re celebrating another milestone, we hope to help many more businesses and entrepreneurs who have innovative and sustainable ideas in the future by breaking down the barriers of access to traditional finance and will allow the Midlands region to continue to prosper.”  

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.

A Worcestershire business has secured a £250,000 investment from the Midlands Engine Investment Fund (MEIF), provided by The FSE Group managed by MEIF Debt Finance Fund and backed by the Recovery Loan Scheme.

Little Mixers create high-quality fruit purees and syrups for use in cocktails, smoothies and desserts. The MEIF funding will be used to purchase and install a range of machinery at a new production facility in Worcestershire, making Little Mixers the first UK manufacturer of fruit purees specifically for the drinks industry.

Co-founders Shaun Elder and Simon Little formerly worked in the sector as agents for another manufacturer’s product, but with the creation of Little Mixers, they are now producing their own branded purees.

Little Mixers are managing the supply chain through direct relationships with fruit growers and bringing all manufacturing in-house with the aim of becoming the market leader for fruit purees that are allergen free, gluten free, kosher, halal and suitable for vegans and vegetarians.

Simon Little, co-founder of Little Mixer, said: “With the hospitality industry impacted so heavily by the pandemic, we re-evaluated our business model, identifying an opportunity to develop a premium, UK manufactured product for this category. As such, despite our extensive experience and commercial success in the sector, we are effectively starting a new business, meaning traditional lines of funding are not available to us.

“We are thankful to MEIF and FSE for looking at the strengths of our business proposition and being prepared to back our potential, enabling us to bring innovative processing techniques and new-to-market products to the UK.”

Since 2014, the number of outlets serving cocktails has risen by 75% with cocktails now accounting for 10% of total venue drinks sales. Little Mixers will supply its high-quality, commercially competitive and uniquely UK manufactured purees to premium hospitality venues that are looking for the finest ingredients.

Harriet Saunders, Fund Executive at The FSE Group, added: “Shaun and Simon have a deep understanding of the UK drinks sector with a strong network of industry connections. This, along with their technical expertise, data driven forecasting of the market and intellectual property ownership, sets them up well for the successful delivery of their business plan.

“We are delighted to be supporting them and look forward to helping them achieve their ambitions for growth.”Little Mixers has secured a £250,000 investment from the Midlands Engine Investment Fund (MEIF), provided by The FSE Group managed by MEIF Debt Finance Fund and backed by the Recovery Loan Scheme.

Little Mixers has secured a £250k investment from the Midlands Engine Investment Fund, provided by The FSE Group managed by MEIF Debt Finance Fund and backed by the RLS.

Mark Wilcockson, Senior Investment Manager at the British Business Bank, said: “The MEIF is committed to supporting businesses like Little Mixers in its growth plans in the Midlands. MEIF funding options are available to other businesses with growth plans in the region that are looking to scale-up and we’d encourage these businesses to consider the options.”

Gary Woodman, Chief Executive of the Worcestershire Local Enterprise Partnership, said: “It’s great to see yet another Worcestershire business being supported to grow through the Midlands Engine Investment Fund. I am so pleased to see this support enabling Little Mixers to invest in their new production facility in Worcestershire, allowing them to bring their new innovative ideas to market. This has been down to the support of the Worcestershire growth hub and the partners supporting this business.”

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.