Iventis, a UK company whose events software platform was used to help plan the Special Olympics in Berlin, has raised £1.5m (USD $1.9m).
The company has secured investment from the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia Ventures and is part of the Midlands Engine Investment Fund (MEIF). This is in addition to Mercia’s EIS funds.
The software enables online event planning collaboration by bringing together satellite imagery, maps, architectural drawings, and other data. Events which have utilised the platform include the 2022 Birmingham Commonwealth Games, the World Cup, and Dubai Expo.
Joe Cusdin, Iventis CEO (pictured above), said: “Planning high-profile events is extremely complex with a host of different factors to consider – from designing and building the infrastructure and planning schedules to managing crowd control, transport, and security. However, the industry still relies heavily on spreadsheets, drawings and data in different formats.”
The latest funding will enable Iventis to further develop its technology and, as it brings the total the company has raised to date to over £2.1m, it will enable the company to create around six new jobs.
Mark Wilcockson, senior investment manager at British Business Bank, adds: “MEIF Proof-of-Concept & Early Stage Fund provides ambitious businesses in the Midlands, such as Iventis, with financial investment to enable expansion and growth.”
Greater Lincolnshire Local Enterprise Partnership (LEP) chief executive Ruth Carver said: “I am delighted that Lincoln company Inventis has secured further investment through the Midlands Engine Investment Fund (MEIF). It is good to see investment into a digital events platform and investment in talent locally.”
The Midlands Engine Investment Fund is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
