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Learning zone firm secures
funding for growth
A fast growing Southport company which
produces futuristic learning spaces for schools and training centres has secured
£150,000 funding from The North West Fund for Venture Capital, managed by
Enterprise Ventures, to help it expand.
Immersive Interactive was founded by technology experts David Salt and Chris
Porter, who have been joined by four new staff members in the past 3 months. It
is now exporting to Italy and the UAE and expects to double its turnover in the
year ahead. This is the second round of investment by the fund, which also
provided £100,000 when the company started trading 3 years ago.
Immersive Interactive's products range from educational software programs to
complete interactive learning environments which bring stories to life through
the use of sound, smell and interactive visuals projected on to the walls.
These 'immersive spaces' have proved popular with the education sector,
particularly special needs schools, and are now also being used in the medical
field to simulate accident and emergency scenes and provide more realistic
training for first aiders and paramedics.
The company, which is chaired by Matt Johnson, co-founder of Liverpool based Mando Group, has clients throughout the UK and resellers in Spain, Italy, the
Middle East, Hong Kong and Australia.
Will Clark of Enterprise Ventures said:- "The market for educational
technology is growing internationally. There is a demand for more immersive and
engaging systems in schools, as the increasing use of tablets,touch screens and
ebooks shows. Immersive Interactive has attracted international interest and is
expanding rapidly. This funding will allow it to fulfil its current orders and
explore opportunities in new markets such as the medical sector."
Chris Porter added:- "We are extremely grateful to Enterprise Ventures and
The North West Fund. The initial investment enabled us to start up and develop
our products, while this latest round provides additional support at a time of
rapid growth."
The company was advised by Robin Hastings of Bermans and Nathan Heathcliff Core
of Verus while the Fund was advised by Harriet Sutherland of Ward Hadaway.
The North West Fund for Venture Capital is part of the £155m North West Fund and
is financed jointly by the European Regional Development Fund and the European
Investment Bank.
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