Tech start-ups raise £1 million of investment

Three technology companies based at the Welsh Innovation Centre for Enterprise in Caerphilly have collectively raised more than £1 million over the past few months.

Signum Health, ProfitSourcery and NearMeNow have been supported through the ICE Space Programme, which provides full-time desk space, mentorship and access to potential investors.

The start-ups come from a range of sectors, including healthcare, online trading and retail support, and are currently undergoing rapid expansion plans after raising funds.

Signum Health, which is a cloud-based diagnosis and social prescribing service, has raised £600,000 in the past twelve months. A large proportion of this came from the Development Bank of Wales and a further £200,000 from private investors.

Vicky Norman, CEO of Signum Health, said: “This latest round of investment will help us to take Signum Health to the next stage of its development. We are already helping GP surgeries around the UK and we can’t wait to see Signum Health used in every surgery in the country.”

Market intelligence service Profit Sourcery, which analyses two million retail products weekly, has received £225,000 from the Development Bank of Wales and private investors.

Ed Brooks, director of the firm, said: “We’ve grown significantly in the last twelve months and we don’t expect that to change in the near future. We recently took more office space at ICE to accommodate three new members of staff and we plan to create further jobs in the next twelve months.

“We are also expecting to increase our customer base as we further roll out new products and features, which is where much of the recent investment will be focussed.”

Meanwhile, high street retail app NearMeNow has scooped up £210,000 of funds. Out of this total, £150,000 came from the Development Bank of wales and £60,000 from private investors.

Vicky Mann, Founder and CEO of NearMeNow, said: “The investment has been used to build the NearMeNow app and cover operational costs for twelve months.

“We’re now in the process of securing a second round of investment to complete in January 2019 and are looking for smart private investment.

“The Meet the Investor breakfasts at ICE were a critical part of our investment funding journey, providing an informal environment to talk to influential individuals about a range of funding options.”

Jamie McGowan, campus director at Welsh ICE, added: “We’re delighted to see three of our members secure significant funding and are excited by what they will go on to achieve.

“Every business and entrepreneur at ICE has a unique story, yet they all start at the same place – an idea. There is a quote on the wall at the Campus reception which says ‘small is the seed of greatness’ and it’s a mantra that runs through ICE like Blackpool through a stick of rock.

“Each founder that has gone on to achieve investment started small, and through hard work and determination, grew their idea into a business – starting right here on the Caerphilly Campus.”