8th April 2021
Wysdom Dental Technologies (“Wysdom Dental”) has received £200,000 from the Midlands Engine Investment Fund (“MEIF”) East & South East Midlands Debt Finance Fund, managed by Maven Capital Partners (“Maven”).
The Milton Keynes-based business plans to use the funding to invest in product development and launch its latest cloud-based software for dental practices in the UK.
Wysdom Dental has already developed a suite of software products including ‘Wysdom RotaAngel’, an online shift and holiday management system, ‘Wysdom Digital’, a platform that manages dental equipment sales and maintenance, and ‘Wysdom Store’ to help with the purchase of dental consumables.
Following the MEIF funding, the business is set to launch its ‘Wysdom Dental Practice Management System – CloudPlus’, which operates using a SaaS browser-based system. The funding secured will help finalise the remaining product development work and support the launch.
Glenn Wynsor, MD at Wysdom Dental Technologies comments: “Following the MEIF funding, the business is set to launch its ‘Wysdom Dental Practice Management System – CloudPlus’, which uniquely operates using a Cloud/SaaS browser-based system synchronised to an on-premise bespoke server for 24/7 service continuity. The funding secured will help finalise the remaining product development work and support the launch.’’
Graham Hall, Investment Manager for Maven adds: “Wysdom Dental has entered a new phase of growth following continued investment in R&D, helping to fine-tune its product portfolio and better serve clients’ needs. Following an introduction from Independent Banking Consultants (IBC), we are delighted to be able to help Glenn and Jo complete the final development of their new product. This is another great example of Maven and local advisors working together to deliver a timely growth debt solution.”
Lewis Stringer, Senior Manager at the British Business Bank, said:
“The MEIF was designed to fill gaps in access to finance and provide greater options for Midlands’ businesses. Wysdom Dental is the latest investment to be made by the Fund in a technology business, enabling more new, innovative products to be developed and taken to market and supporting economic recovery following the disruption caused by the Covid-19 pandemic.”
Vicky Hlomuka, SEMLEP’s Growth Hub Manager: “The past year has been tough for everyone, and businesses have had to adapt accordingly. It’s fantastic that this Midlands Engine Investment Fund investment is helping a local business to innovate, launch new products and get back to growth. This will help expand the region’s advanced technology field even further.”
The Midlands Engine Investment Fund project 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.
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