News

ARC Marine, the developer of pioneering low-carbon concrete solutions for use in marine environments, has secured £1million from the Cornwall & Isles of Scilly Investment Fund (CIOSIF), as part of a £2million funding round, which also includes a Mulago Foundation grant and investment from Mercuria, one of the world’s largest independent energy and commodities groups.

The Truro based business has developed Marinecrete®, a proprietary non-toxic binder, which emits 90% less CO2 than Portland cement and has recently broken new ground on carbon neutral and carbon negative mix designs. It’s patented product, reef cubes®, can be used in a variety of marine applications across aquaculture, coastal defence, offshore wind, reef conservation and eco-engineering.

ARC’s innovation has the potential to transform the offshore wind farm sector by improving infrastructure installation while preserving marine biodiversity and this will be a key area of focus for the business.

This latest funding follows a previous CIOSIF investment in 2021 and will be used to scale up production and application of ARC’s market-disrupting solutions. Since the first CIOSIF investment ARC has more than doubled the number of employees and quadrupled its turnover and the new funding will be used to further increase headcount with the creation of several highly skilled roles over the next two years

Co-investor Mercuria strategically deploys multi-billion-dollar investments across the energy sector with a focus on the energy transition. With a discerning eye for value and impact, the team annually picks a select number of high-potential ventures that align with a commitment to innovation, sustainability, and market leadership. These carefully curated investments are poised for significant scalability and are instrumental in shaping the future landscape of the energy market. By focusing on transformative projects that bolster energy security and transition, Mercuria plays a pivotal role in driving progress within the industry, fortifying supply chains, and fostering long-term economic growth.

Tom Birbeck, ARC Marine founder and CEO, said: “We are delighted to have secured further CIOSIF funding, via The FSE Group, alongside our new co-investors. The first investment helped us grow our team and expand operations and we’re well on our way to proving our innovative solutions can work at scale. Mercuria recognises the potential of Marinecrete® and reef cubes® in the natural energy supply chain and their partnership will be instrumental in boosting the visibility of ARC.”

Meg Salt, Investment Manager at The FSE Group, appointed CIOSIF fund manager, added: “Since our initial investment, ARC has secured a number of blue-chip customers including multi-national energy companies. ARC is uniquely placed to support global carbon net zero targets. The opportunity in offshore wind projects alone is significant while there remains huge potential impact across many sectors beyond its current marine setting. We’re thrilled to work with the team as they take the next step in their growth journey.”

The £40m Cornwall & Isles of Scilly Investment Fund was established by the British Business Bank in partnership with the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP) to provide debt and equity finance to help growing small businesses across the region.

Funding through CIOSIF came to an end in December 2023 but wider funding is now available through the British Business Bank’s £200m South West Investment Fund providing loans from £25k to £2m and equity investment up to £5m.

CIOSIF has been 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.

RoleMapper, the AI-powered job management platform, has secured a £1million equity investment from the British Business Bank’s South West Investment Fund (SWIF), via appointed fund manager The FSE Group.

The investment is part of a £2.1million funding round that will support job creation and overall growth of the business. The funding round includes investment from Mercia Ventures, South West-based venture capital firm QantX, and existing private investors.

The £200m South West Investment Fund covers the entire South West region and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead. The RoleMapper deal is the fund’s largest investment to date since its launch in July last year.

RoleMapper’s technology is disrupting how organisations manage jobs, skills, inclusivity and compliance. It can automate and transform how to plan and manage job designs and descriptions, with access to millions of jobs and skills across multiple industries, all integrated within existing human resources (HR) systems.

Sara Hill, RoleMapper Founder and CEO said: “We are thrilled to have the South West Investment Fund and FSE on board as new partners, enabling us to further strengthen our product, unique AI models and build capacity for further roll-out. We look forward to working with all our investors as we continue our growth journey and build on the progress we’ve made helping organisations create better jobs and build inclusive workplaces.”

The Exeter based business is already working with a number of large organisations including well-known global brands, local authorities and NHS trusts.

Ralph Singleton, Head of Equity, South West at The FSE Group added: “RoleMapper has a strong leadership team with experience building and scaling businesses in the B2B and HR space. They have recently pivoted their offering to address an identified market need and their AI powered tech is helping major corporates and public sector organisations manage their responsibilities as equal opportunity employers. We look forward to working with them as they expand.”

Jody Tableporter, Director, Nations and Regions Investment Funds said: “Rolemapper has gone from start-up to scale-up in just a few years, harnessing AI technology to transform how businesses and organisations manage their workforce strategy. We’re delighted the South West Investment Fund is supporting their further growth, with what is the fund’s largest deal to date.”

Mercia Ventures first backed RoleMapper in 2022. Rafael Joseph of Mercia added: “We’re pleased to continue to back the team at RoleMapper. They have shown great tenacity against a tough economic backdrop and successfully reshaped their strategy to solve the immediate issues facing clients. As a consequence, they’ve continued to win impressive blue-chip customers, proving the need for their solutions in the market. We expect them to have another strong year in 2024.”

The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the South West. The South West Investment Fund is increasing the supply and diversity of early-stage finance for South West smaller businesses, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.

A Worcestershire based e-commerce gym wear brand, has secured a £650,000 investment from the Midlands Engine Investment Fund (MEIF), provided by The FSE Group Debt Finance Fund and backed by the Recovery Loan Scheme.  

Silverback Gym Wear focuses on the strongman, strongwoman and strength sports markets. Their existing range is popular with professional athletes and avid gym goers alike, who prioritize quality and innovation over aesthetics when choosing their performance clothing. 

The development of their latest product range Fortis will see them branch out into other areas such as professional rugby and MMA. This standalone range has been co-developed with Britain’s Strongest Man, Adam Bishop. 

Silverback Gym Wear boasts 30,000 returning customers and is expanding its reach in the lucrative US market. To help them achieve this, alongside the development of new products, the MEIF funding will be used to create 12 new positions, fund the move to new larger premises and to boost the sales and marketing functions of the business.  

Richard Gardener, Founder of Silverback Gymwear, said: “The next stage in the development of our range is an incredibly exciting one as we branch out into more sports and interests at all levels of  competition. We’ll be releasing new products that are industry leading, accredited and used in top competitions, all utilising designs that are much more user friendly than current alternatives. The new staff hires that we’ll be able to bring on board thanks to this funding will continue this work and help us to expand further and faster as we disrupt the strength based sports sector, bringing more options to the sector.”   

Ryan Cartwright, Investment Manager at The FSE Group, commented: “Founders Richard and Pete are fantastically passionate about their brand. They are brimming with ideas and sector knowledge and in addition their enthusiasm for the sector as a whole is evident. The company’s new products and expansion plans are very encouraging and it has been wonderful working with the whole team to help them secure this funding. We look forward to seeing how the business progresses and spotting their clothing at more and more competitions and matches.” 

Mark Wilcockson, Senior Investment Manager at the British Business Bank, said:  The Midlands Engine Investment Fund continues to back smaller businesses across the region, so it’s great to see another business taking the opportunity for continued growth thanks to the MEIF. As we move towards the launch of MEIF II, we continue to remain committed to this objective.”  

The current MEIF investment phase has now completed with the British Business Bank launching the Midlands Engine Investment Fund II on February 29th. 2024. 

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 2014-2022 and the European Investment Bank. The FSE Group manages a section of MEIF that provides investments between £100,000 and £1.5 million to support growing SMEs across the region. For more information visit: www.thefsegroup.com/fund/midlands-engine-investment-fund-debt-finance. 

A Tremough-based company that has developed disinfectant technology using water and electricity has received funding from the Cornwall & Isles of Scilly Investment Fund (COISIF), managed by The FSE Group, as part of a £1million funding round.

The £250,000 CIOSIF investment in Oxi-Tech is accompanied by investment from existing shareholders and Henley Business Angels and is being used to support business growth.

Oxi-Tech’s patented clean-in-place technology uses activated oxygen, removing the need for aggressive chemical-based disinfection solutions, such as chlorine, and eliminating the high recurring costs and safety risks of traditional chemical disinfectant processes.

Oxi-Tech’s technology creates an oxidation process in-situ from tap water, that is safe to use for humans and animals and can be applied across a variety of sectors including agriculture, utilities, the built environment and water supply.

The company is in the initial stages of focusing its efforts on the agricultural sector where equipment such as dairy milking machines and animal feeding water lines are potential breeding grounds for bacteria and other pathogens.

The carbon-heavy supply chain of traditional large-scale disinfecting carries a significant environmental burden. Oxi-Tech’s solution reduces CO2 output and removes the use of harsh and dangerous chemicals from the process, as well as providing an estimated £20,000+ in savings per year to farmers implementing the system over traditional, chemical solutions.

Following successful trials in the UK and the Middle East, Oxi-Tech is now ready to commercialise its technology with a team that has an excellent track record in developing sustainable, innovative, high-growth businesses.

Paul Morris, CEO of Oxi-Tech said: “The FSE Group has been a strong supporter of our technology and business proposition over the past five years and we are thrilled to receive this CIOSIF investment, which has provided a foundation for the funding round. We are now looking forward to focusing on the full commercialisation and roll-out of our ground-breaking solutions as we move into the next phase of growth.”

Ralph Singleton, Head of Equity, South West, at The FSE Group commented: “This innovative team has developed market disrupting technology with robust environmental credentials. With a number of cross-sector opportunities across the UK and international markets, we are delighted to be supporting Oxi-tech to roll-out its game-changing solution.”

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).

Funding through CIOSIF comes to an end in December this year but wider funding is now available through the British Business Bank’s £200m South West Investment Fund providing loans from £25k to £2m and equity investment up to £5m.

Keira Shepperson, Director, Regional Funds from the British Business Bank said: “Oxi-Tech have developed a process that uses tap water and low level electricity to create a powerful, chemical-free disinfectant. It is already showing results in the agricultural industry, lowering both costs and environmental impact, and we are pleased the fund is supporting further growth.”

John Acornley, Chair of the CIOSIF advisory board and former LEP non-executive director, said: “Oxi-tech is another example of a Cornwall-based tech start-up with an environmental focus. Its proven technology also saves on the of costs of transport, storage and disposal compared to chemical-based disinfection and has applications across many sectors.”

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

Nusara is a multi-award winning boutique Thai restaurant brand, based in Dorset. It is the brainchild of hospitality entrepreneur Andy Lennox, who rejoined forces with husband and wife chef duo Thammanoon Thurasan and Nusara Padungwang as well as Acorn-Award Winning operations director Sophie Cox.

The business recently received a £250,000 investment from the South West Investment Fund via fund managers The FSE Group, to support the opening of their new site in Westbourne, Bournemouth. The area has been a high target for the brand, following its Ambassador Choice status and being granted Thai Select signature status by the Royal Thai Government. The plan is to open in early Spring 2024.

This will be their fourth site in three years, as the brand continues its localised roll out in Dorset. The group has plans to add several more restaurants in Dorset, before a potential nationwide rollout.

Andy Lennox said: “We’ve managed to create something special out of such a tough time. As a passion project, to open four sites in just under three years is remarkable and a testament to the team we have here.

“For me, being backed by the South West Investment Fund through The FSE Group is a key marker in the sand for the brand. This not only helps us fund the opening of our new restaurant in Bournemouth but the fact we’ve managed to secure more traditional debt financing for the first time, will allow for the potential of an accelerated roll out once we are bedded in.”