South Yorkshire Investment Fund invests in Connexion2: Hi-tech security group set for further expansion with Identicom
Published: 4th November 2004
A company which has pioneered a revolutionary remote security device for lone workers is set for further expansion with the backing of the South Yorkshire Investment Fund.
Connexion2, based in Dinnington, Sheffield, has received a £200,000 investment from 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 remotely.
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 businesses to operate with total peace of mind."
Connexion2, which was established in 2003, and its clients 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 product with huge potential in the UK and global personal security market."
"It is very rewarding for the Fund to have an opportunity to invest in a hi-tech company like Connexion2 which has exciting growth potential and should also help to create high-quality sustainable jobs 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 also 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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About South Yorkshire Investment Fund
South Yorkshire Investment Fund provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.
South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.
Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.
For further details please contact Suzanne Tinkler, on 0845 649 0000.
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 Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).