A biotech company that has created a model of a human gut to trial new drugs and foodstuffs without the use of animals has raised £1.25m from the North East Venture Fund, supported by the European Regional Development Fund and managed by Mercia Ventures. Aelius Biotech, a spin out from Newcastle University, provides testing services
A Grimsby-based engineering company that supports energy infrastructure has secured a £250,000 loan from NPIF – Mercia Debt Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund, to help it continue taking on bigger projects. Technica serves all the major gas distributors including National Gas Transmission, SGN, NGN, Wales
A Prop Tech business that helps owners of high-rise buildings to meet strict new safety rules has raised a further £750,000 from NPIF – Mercia Equity Finance, which is managed by Mercia Ventures and is part of the Northern Powerhouse Investment Fund. Bimsense’s platform helps companies comply with the Building Safety Act, which aims to
A Newcastle company that provides immersive training programmes for industry using extended reality software has raised a further £1m from the North East Venture Fund, supported by the European Regional Development Fund and managed by Mercia Ventures. The funding will enable the Luminous Group to roll its technology out to a wider audience and create
A fast-growing Midlands-based commercial heating contractor has secured a six-figure finance package from Mercia’s SME Loans fund to expand its operation and move to new headquarters. Ignis Group, which began trading in 2018, has increased turnover by over 800% in the past five years and has established itself as one of the leading mechanical contractors
One of the North’s leading diving companies has undergone a seven-figure management buy-out backed by Mercia’s SME Loans fund. Underwater Diving Services, which is based at the port in Barrow-in-Furness, has played a key role in the redevelopment of the port and the construction of the UK’s nuclear submarine fleet and supports many regional infrastructure
Two scientists who have developed a 3D human lung model that can assess the safety of new drugs without the use of animal testing have raised a £2m investment to scale their operations. Dr Abigail Martin and Professor Victoria Hutter have secured backing from the MEIF Proof of Concept & Early Stage Fund, which is
The Yorkshire designer behind a new luxury bedding brand has raised £100,000 from NPIF – Mercia Debt Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund, to help expand her business. Sophie Platts’ company Floks specialises in sustainable bedding including duvets, pillows and mattress toppers, all made from British
Secure Empty Property (SEP) – a Lancashire-based business that provides specialist security services to landlords and site owners – has been acquired by The Clearway Group for an undisclosed sum. The sale provides an exit for Mercia Ventures and its client fund, the North West Fund for Venture Capital, which backed SEP at its inception
Netacea, the Manchester-based cybersecurity business, has secured a further £4.4m investment from Mercia Asset Management PLC to support its continued growth. The funding comes from PLC’s own cash, and several of its funds under management including Northern VCTs and NPIF – Mercia Equity Finance, which is part of the Northern Powerhouse Investment Fund (NPIF). Mercia