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6th September 2019

Collaborative working platform secures £40K funding boost

A BEDFORD-based software developer that specialises in collaborative working platforms has received a £40,000 cash investment from Enterprise Loans East Midlands (ELEM) through the Midlands Engine Investment Fund (MEIF).

Tyrocircle was set up by software engineer, Athar Majeed in 2014. Its most recent app Savah – a design collaboration, prototyping and usability platform for creative teams – is a unique offering to the UK market place.

The app allows designers to create high-quality prototypes for web and mobile apps without writing a single line of code. Data gathered by Tyrocircle shows that teams who have used the Savah app are generally 25% more productive and have also brought products to market 25% faster.

Athar Majeed, Founder and Managing Director of Tyrocircle, said:

“I have worked in the software engineering industry for ten years and a few years ago I spotted a niche space in the market to enable creative and digital teams to work more efficiently.

“If you have a design team working on a project, it may involve many people from multiple companies working on the same thing. Savah allows everyone to have access to the design file so users can drag and drop updates directly into the file. Everything is then stored in one place so there’s no need for hundreds of emails to be flying around. It also provides interactive communication between all parties for better design collaboration.

“This funding has been used to boost Savah’s presence in the market place and will allow us to target prospective clients effectively.”

The investment from Enterprise Loans will be used to develop the apps marketing strategy with a specialist agency and build a dedicated direct sales team.

Matthew Wright, Business Advisor at Enterprise Loans, said:

“The team at Tyrocircle have been working on this project for two years and, excitingly, Savah is now in a position to be taken to the next level. We are excited to see the impact the app has on potential clients and the creative market place.

“Athar’s commitment and dedication to the app and getting it ready to launch has been incredibly impressive. We’re therefore thrilled to help him with additional capital to support his business – we wish him every success in his venture.”

Lewis Stringer, Senior Manager at the British Business Bank, commented:

“The East and South East Midlands region has a diverse and expanding base of innovative, small businesses, such as Tyrocircle. We look forward to seeing the business grow and would actively encourage any other SMEs in the region looking for finance to grow to consider the options available through the MEIF.”

Hilary Chipping, Chief Executive, South East Midlands Local Enterprise Partnership said:

“Supporting companies like Tyrocircle, which work collaboratively across the digital and creative sectors, is so important to our area. We have a strong and growing cluster of digital and creative innovators, so combining both to improve the productivity and speed of products to market is a very exciting proposition.”

The MEIF project is supported financially by the European Union using funding from the ERDF as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

For more information on Enterprise Loans visit www.first-enterprise.co.uk or follow @1st_Enterprise on Twitter. For further information on the MEIF please visit www.meif.co.uk or follow @MidsEngInv.

Follow @midsenginv


The #MEIF Quick Reference Guide breaks down the different types of finance available through the Fund and the types of businesses best suited to each. Download it here - https://t.co/RngOaJw0eV https://t.co/EvAftZBCy7 MidsEngInv photo

The @BritishBBank has today released its Small Business Finance Markets Report 2020. Key findings include #MEIF supporting 20% of equity deals in the #Midlands, helping the region's businesses unlock new growth. Read #SBFM2020 here - https://t.co/W32Uh2aPWG https://t.co/MLDHvnredp MidsEngInv photo

20% of equity deals in the Midlands supported by the #MEIF - revealed in the @BritishBBank's #SBFM2020 Report released today - https://t.co/W32Uh2aPWG https://t.co/bCrbzCeChd
MidsEngInv photo
British Business Bank @BritishBBank
Our regional funds, @MidsEngInv and @NPIFBBB, have contributed 20% and 16% respectively to equity deal numbers in the North & Midlands #SBFM2020 #LevelUp

Download the full report now
👉 https://t.co/pSuiMCJXle https://t.co/VzV0nikT14

Growth Hubs are centres for business support, connecting firms to the right help for their needs. With 10 located across the Midlands, find your nearest here - https://t.co/47oT5NP7xK https://t.co/gW78zLZ8Ym MidsEngInv photo

Supporting innovation is a key priority for the #MEIF, with the Fund investing £150k in Birmingham-based @aceleronenergy – a firm developing cutting edge battery technology. In the video below, CEO Amrit Chandan explains how the funding supported the firm’s #Growth https://t.co/im8hET5eGZ

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Follow @midsenginv


The #MEIF Quick Reference Guide breaks down the different types of finance available through the Fund and the types of businesses best suited to each. Download it here - https://t.co/RngOaJw0eV https://t.co/EvAftZBCy7 MidsEngInv photo

The @BritishBBank has today released its Small Business Finance Markets Report 2020. Key findings include #MEIF supporting 20% of equity deals in the #Midlands, helping the region's businesses unlock new growth. Read #SBFM2020 here - https://t.co/W32Uh2aPWG https://t.co/MLDHvnredp MidsEngInv photo

20% of equity deals in the Midlands supported by the #MEIF - revealed in the @BritishBBank's #SBFM2020 Report released today - https://t.co/W32Uh2aPWG https://t.co/bCrbzCeChd
MidsEngInv photo
British Business Bank @BritishBBank
Our regional funds, @MidsEngInv and @NPIFBBB, have contributed 20% and 16% respectively to equity deal numbers in the North & Midlands #SBFM2020 #LevelUp

Download the full report now
👉 https://t.co/pSuiMCJXle https://t.co/VzV0nikT14

Growth Hubs are centres for business support, connecting firms to the right help for their needs. With 10 located across the Midlands, find your nearest here - https://t.co/47oT5NP7xK https://t.co/gW78zLZ8Ym MidsEngInv photo

Supporting innovation is a key priority for the #MEIF, with the Fund investing £150k in Birmingham-based @aceleronenergy – a firm developing cutting edge battery technology. In the video below, CEO Amrit Chandan explains how the funding supported the firm’s #Growth https://t.co/im8hET5eGZ

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