A smart buildings firm has secured a “six-figure” investment to support its growth.
Preston-based Origin Control Solutions (Origin) says it plans to use the cash “to accelerate growth through further research and development” and to develop its work in web-linked “internet of things” technology. Origin was founded in 2016 by Peter Rawlings and helps customers to monitor their assets and buildings remotely, controlling systems including lighting, heating, and security.
The company secured the support through the FW Capital Debt Finance element of the Northern Powerhouse Investment Fund II (NPIF II).
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CEO Mr Rawlings said: “ We’re constantly striving to deliver more and this investment from NPIF II - FW Capital is helping us to implement our growth plans. Research and development are an integral part of our success and access to this working capital means we can innovate further. We have lots of exciting plans in the pipeline to enhance our existing platform, building strategic partnerships, creating greater efficiencies, and ease of use for our clients.
Steve Molyneux, senior investment executive at FW Capital said: “Origin are experts in remote monitoring, and I’m pleased to provide the working capital required to facilitate their next stage of growth.
“Our investment will assist both their recruitment drive and further development of the interface and software that underpins their offering. It’s a very clever solution that supports the changing needs of today’s business owners, addressing the increased need to access information about buildings from energy efficiency to occupancy levels. Origin is making real change here and I’m pleased to support them with the next stage of their development.”
Sue Barnard, senior investment manager at the British Business Bank, said: “The North West is establishing itself as a leader in many sectors, with tech being one of those. NPIF II has been designed to support innovation and the transition to net zero, and Northern businesses like Origin are enabling more sustainable ways of working while also creating jobs in the region. It’s this sort of growth that will contribute to the regional economy and fuel prosperous growth in the North.”
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