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A Hertfordshire based brand that specialises in bringing the latest in sustainable innovative technology to the market is the latest business to be supported by the East of England Regional Growth Loan Scheme.

Bitmore supplies carbon neutral & sustainable consumer technology, gadgets and accessories to the travel retail market. Products are manufactured using recycled plastics and plant-based alternatives. The company currently supplies 30 of the world’s biggest airlines including British Airways, Virgin and Emirates, and was certified as a B-Corp earlier this year.

The £500,000 growth funding will be used to boost the sales and marketing functions, with a new website currently in development. Additionally, the Bitmore team is continuing to grow, with recruitment planned across the e-commerce, marketing and admin departments.

Hoj Parmar, CEO at Bitmore, said: “Having a sustainable focus is at the heart of what we do, all our products are designed to make a positive impact on our environment. We are passionate about looking after the planet and are championing the use of sustainable and eco-friendly materials across all sections of our business. Our most recent product launch was our carbon neutral neck pillow, the ‘Snoooza’, which has fibre made from reclaimed plastic bottles and we have had some great early feedback from our customers. The funding comes at an exciting time for the business, as we launch new product lines globally as well as increasing our brand awareness through our e-commerce channel.”

Simon Elliott, Investment Manager at The FSE Group, which manages the loan scheme, added: “Hoj and his team are experts in consumer electronics, and it is great to see them take a stand in reducing the amount of single use plastic being used in the tech sector. There has been a massive shift globally in consumer awareness towards sustainability and Bitmore are already well placed in the market to continue their growth trajectory. With new opportunities and global partnerships coming thick and fast, we wish them all the best for the future. We would also like to thank Chris Ellis from Innovate UK Edge for introducing us to Hoj.”

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.

Growing national law firm, Foot Anstey has advised FSE Group in connection with the closing of two investment funds, which will form part of the South West Investment Fund (SWIF).

The firm advised on the closing of SWIF - Equity Area A LP, a £46M fund and SWIF - Debt Area A LP, a £23M fund.

The £200m South West Investment Fund (SWIF) 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 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 will increase the supply and diversity of early-stage finance for South West smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.

The FSE Group was one of four fund managers appointed by the British Business Bank in connection with the management of the SWIF, being appointed to manage both debt and equity for the South of the region.

Karl Bradford, Legal Director at Foot Anstey, commented:  "The FSE Group has a fantastic track record of managing and deploying funds to support the growth of small and medium sized businesses.

"Being FSE's chosen legal partner in helping it close the two funds was an honour. We are proud to say that we assisted FSE with its appointment under the SWIF to unlock vital investment for businesses across the South West."

The SWIF is the first in a series of six new Funds being launched by the British Business Bank, the government-owned business development bank.

Dale Huxford, Chief Financial Officer at the FSE Group, commented: “Foot Anstey's legal advice was crucial in enabling us to close the equity and debt funds with Nations and Regions Investments Limited. We’d like to thank Karl and the Foot Anstey team for their support and guidance throughout the process and look forward to working with them again in the future.”

The Foot Anstey team was led-by Legal Director Karl Bradford, with support from colleagues in the firm's Funds team.

For more information about the South West Investment Fund visit: www.southwestinvestmentfund.co.uk

To find out more about Foot Anstey and its services please visit: https://www.footanstey.com/

Article written by Foot Anstey.

A nutritional health and sports performance drinks brand has secured £300,000 from the East of England Regional Loan Scheme to support the growth of the business. 

Kings Lynn based Amino, have created a range of powdered nutrition drinks that combine amino acids with scientifically backed ingredients to enhance human health & performance. The product range target particular use cases like pre and during workout, with products that improve sleep & hydration in the pipeline. All of the Amino range is plant-based, zero sugar, low calorie with no artificials colours or flavours and all ingredients are responsibly sourced and produced. 

The funding will be used for sales and marketing and to expand the operations and fulfilment departments, with the recruitment of additional staff as the business continues to grow its online presence.  

Launched in 2019, Amino Drinks formula is the brainchild of Simon Carty, an ex-athlete who studied Exercise Physiology and Biochemistry at Loughborough University.  

Simon Carty, CEO at Amino Drinks, said: “Our mission is to positively influence long-term health and we do this through our smart combinations of different amino acids, which allow our customers to target specific goals for both their mind and body. Amino acids are hugely beneficial not only to enhance workout performance, but they also promote recovery and healing to lots of the body's fundamental systems. The funding comes at an exciting time for the business as we are expanding our warehouse facility to ensure we have enough space for additional stock to facilitate the increase in our order book.” 

Simon Elliott, Investment Manager at The FSE Group, which manages the loan scheme, added: “The global fitness and wellness market is rapidly expanding and with a highly innovative product Amino are well placed to develop their client base. Simon and his team have spent countless hours researching and developing their products to enhance the end results for their customer base. With this they go to market with a unique offering, and we are delighted to be supporting them and wish them all the success for the future.” 

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. 

A design and manufacturing company producing sustainable furniture for work, education and social spaces has received a £200,000 loan from the Cornwall and Isles of Scilly Investment Fund, managed by The FSE Group.

Hart Miller Design will use the funds to support the growth of its MARK (Made and Realised in Kernow) Product brand – furniture ranges designed for informal work settings and learning environments that are manufactured in keeping with the company’s sustainability driven ethos.

This Cornish company is well known in the contract furniture industry, with MARK furniture being used in the offices of multinational corporates including the BBC, EY, Fujitsu and Arsenal FC. A key selling point is Hart Miller’s industry-leading, independently assessed “Do Net Good” strategy that they spent three years developing and refining into the robust manufacturing and operating model that defines the business today. The company is also working towards B Corp certification in 2023.

Demand for MARK products is also being driven by changes to workspaces as they evolve to fit the post-covid hybrid model where working from home tends to be for concentration and focus, whilst working from the office is often about collaborative spaces that build brand culture.

Anna Hart, Co-founder of Hart Miller Design, said: “As more large companies seek ethical and sustainable transparency from their suppliers, we are seeing increased demand for our high-quality designs. Our new Otto laptop table received significant pre-orders so building capacity to ensure delivery is central to our growth strategy. It can be difficult to obtain funding based on future sales so we are delighted to have secured this CIOSIF loan, which allows us to increase resources and provides working capital to support new contract wins.”

Tim Williams, Investment Manager at The FSE Group, added: “This is a resilient business that has overcome the considerable challenges posed by covid, built a track record for quality and reliability and developed a pipeline of innovative products to meet changing market demand. It is now in a strong position to take advantage of a recovering sector that is increasingly seeking high-calibre products with genuine sustainability credentials.”

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).

Paul Jones, Senior Investment Manager  from the British Business Bank said: “Sustainable growth is part of our core mission and Hart Miller Design is an exemplar business which has embraced the concept of a circular economy and put it into practice. I’m delighted that this CIOSIF loan will further those objectives.”

John Acornley, Chair of the CIOSIF advisory board and former LEP non-executive director, said: “With this CIOSIF investment Hart Miller Design has the team, space, suppliers and experience that puts the company on a trajectory to fulfil its potential as a leading UK provider of contract furniture.”

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 thriving Wolverhampton based edtech business that has doubled turnover year-on-year to date, has secured a £450,000 investment from the Midlands Engine Investment Fund (MEIF), provided by The FSE Group Debt Finance Fund and backed by the Recovery Loan Scheme.

School of Coding delivers both online and in-person science and coding education to children, adults, and teachers. The company provides thousands of lessons per month to its students through their bespoke, in-house e-learning platform and education centres in Wolverhampton, Shropshire, Telford & Wrekin and the Black Country. The company also has partnered with a number of universities, schools and colleges thereby making its platform available to a wide range of interested users across the UK. 

The MEIF funding will be used to underpin its growth strategy, simultaneously creating 23 new jobs to support the growth of the business.

With the closure of schools and tuition centres when the pandemic hit in 2020, School of Coding CEO and founder, Manny Athwal, took a novel approach to pivoting his business towards offering e- learning options by providing free online coding training to hundreds of families across the UK. This has since earned the company a significant upturn in student numbers, resulting in consistent growth throughout the pandemic and post-pandemic period.

Manny said: “We are delighted to be working with FSE to aid our growth potential – with the MEIF funding in place, we are expecting to double our turnover again by increasing activity across all our services, particularly furthering the roll-out of our e-learning platform to schools.”

Ryan Cartwright, Investment Manager at The FSE Group, commented: “Despite a difficult economic landscape, Manny and his team continue to grow School of Coding and create jobs here in the West Midlands & Shropshire region. With a number of revenue streams across both online and in-person coding classes , the company has multiple avenues for expansion and we look forward to helping them achieve their growth potential.”

As coding becomes a more integral part of the school curriculum, education providers will be seeking tools to support their teaching and School of Coding is well-positioned to deliver on this. 

Mark Wilcockson, Senior Investment Manager at the British Business Bank, said: “This investment from the MEIF will allow School of Coding to expand the business while creating new jobs in the region. The MEIF backs businesses with growth potential that can have a positive impact on the economy in the region and this investment is a perfect example to showcase the MEIF’s commitment to supporting innovative growing businesses in the Midlands.”   

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.