The UK’s leading onshore deep drilling specialist has secured a seven-figure loan to help finance its work on the construction of two ‘green’ power stations in Ethiopia. The Marriott Drilling Group has raised the funding from NPIF – Mercia Debt Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund
A Newcastle company which aims to revolutionise technology recruitment has raised £500,000 from the North East Venture Fund (NEVF), supported by the European Regional Development Fund and managed by Mercia, as it seeks to expand into the US market. Haystack uses an algorithm to match individuals with suitable roles, removing the need for recruitment agencies.
The company behind a fast-growing online recruitment platform is planning to double in size after raising a further £2m in investment. Smart Recruit Online has secured investment from the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund (MEIF), Mercia’s EIS funds and
A family-run water treatment company has been acquired by the founder’s daughter in a seven-figure deal backed by Mercia’s SME Loans fund. The buy-out of Yorkshire-based Excel Water gives control of the business to Emma Armitage, the current Managing Director, and allows for the partial retirement of her brother Darren Field. Emma now aims to
A proptech company which aims to be the ‘Airbnb for shared living’ has raised over £500,000 in additional funding from existing investors. Worcester-based COHO has secured investment from the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund, and private investors. The funding
Intechnica – the Manchester-based tech company which is backed by Mercia – has spun off its cybersecurity arm Netacea as a standalone company. The separation follows a period of significant expansion for both businesses and aims to support their further growth. Intechnica provides digital transformation programmes for businesses looking to modernise their technical capability or benefit
A remote technology company which has trebled in size in the past two years has raised a further £480,000 to help it expand into new markets. Plexus Innovation, which is based in Durham, has secured £300,000 investment from the North East Venture Fund (NEVF), supported by the European Regional Development Fund and managed by Mercia;
A proptech company which aims to disrupt the lettings industry has raised £750,000 to help establish itself as the leading rental platform for landlords and tenants. lettingaproperty.com has secured investment from the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund, and Mercia’s
A Bradford-based importer, distributor and retailer of confectionery has received a further investment of £500,000 from NPIF – Mercia Debt Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund (NPIF). Candy Hero was founded in 2008 by brothers Frank and Leo Dillon, both former web designers. The business has
A Newcastle cybersecurity business with an automated software that helps SMEs detect vulnerabilities in their IT system has raised £350,000 from the North East Venture Fund (NEVF), supported by the European Regional Development Fund and managed by Mercia. Melius Cyber’s platform monitors an organisation’s IT network around the clock, testing security and protecting it from