South Yorkshire Fund Invests In Connexion2
Connexion2 which has pioneered a revolutionary remote security device for lone workers is set for further expansion with the backing of South Yorkshire Investment Fund.
Connexion2, based in Dinnington, Sheffield, has been awarded a £200,000 equity-loan package by the Fund to further grow the business and market its Identicom security device.
Identicom is a smart identity card equipped with mobile communications technology which enables a lone worker to covertly raise an alarm if threatened, but also allows a third party to listen to what is happening and record events whatever the distance.
For the first time in security management Identicom allows employers to capture evidence of verbal abuse against employees and can be used in the courts in evidence.
The device includes a lanyard attachment that enables it to be worn around the neck as a standard ID and hides a ‘rip alarm’ function, which is triggered if the unit is forcibly removed from the wearer.
The new funding will be used to further invest in the technology behind Identicom and fund an extended sales and marketing programme as the company’s market grows.
Connexion2 founder and Managing Director Craig Swallow, who has more than 15 years experience in both the IT and GSM industries, said: “Identicom is the first lone worker protection product of its kind. Specifically designed to help workers at risk of danger from those they come into contact with; Identicom also helps their employer ensure the safety of their lone working staff and thereby meet their moral and legal duty of care.”
He added: “Our goal is to deliver mobile devices that are simple to use, effective in their operation and that empower lone workers and business to operate with total peace of mind.”
Connexion2, which was set up in 2003, and customers include several local authorities and other public bodies including NHS Counter Fraud & Security Management Services.
Investment Manager Matthew Male said: “Connexion2’s Identicom is a genuinely innovative productive with huge potential in the UK and global personal security market.
“It is very rewarding for the Fund to be investing in a hi-tech company like Connexion2 which will, we believe, be the source of future high quality job creation in the region.”
South Yorkshire Investment Fund offers a range of loan and equity investments, ranging from £15,000 to £2.5m, to help small and medium businesses bridge the funding gap that often hamstrings growing businesses.
The Fund administers and co-ordinates Microloan investments ranging from £1.000 to £15,0000 on behalf of the Enterprise Agencies in South Yorkshire and provides access to Business Angel investments from the South Yorkshire Association of Business Angels.
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For further information contact Ian Green or Joe Moorwood on 0845 4503210 or Alison Reid on 01709 386381 or visit the website at www.syif.com.
EDITOR’S NOTES
About South Yorkshire Investment Fund
South Yorkshire Investment Fund can provide loan and equity investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for development.
South Yorkshire Investment Fund Ltd also administers and co-ordinates the provision of Microloans ranging from £1k to £15k on behalf of the Enterprise Agencies in South Yorkshire and provides access to Business Angel investments from the South Yorkshire Association of Business Angels.
The Fund is a private and public sector business finance provider and has already invested over £million in businesses. The European Regional Development Fund is an investor in the Fund. It has been created as part of the Objective 1 programme to offer loans and equity investments to businesses in South Yorkshire.
The Fund can offer a series of loan and equity packages structured to back businesses through critical stages of growth. From early stage through to major expansion if a business with good growth potential is looking to start up, invest in new technology or equipment, enter new markets or locate into the region – South Yorkshire Investment Fund should be the first port of call.
South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Private Equity Ltd, and the South Yorkshire Investment Small Business Fund, which is managed by UKSE Fund Managers Ltd. YFM Private Equity Ltd (Tel 0114 280 0920) and UKSE Fund Managers Ltd (Tel 0114 270 0933) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services including Mentorbank, and provides access to South Yorkshire Microloan and Yorkshire Association of Business Angels, none of which are authorised and regulated by The Financial Services Authority.
