Vimeo logo Twitter logo LinkedIn logo

News

Header icon
Back to News female on sofa using product with her laptop

26th October 2020

NOTTINGHAM TECH FIRM SECURES FUNDING TO IMPROVE PRODUCTIVITY OF REMOTE WORKERS

A Nottinghamshire-based technology company responsible for developing laptop monitors to help businesses increase the productivity of staff working remotely has secured a £250,000 investment.

Dovetail Technology received the funding from First Enterprise - Enterprise Loans  through the Midlands Engine Investment Fund (MEIF) and the Community Investment Enterprise Facility (CEIF) backed by the Coronavirus Business Interruption Loan Scheme (CBILS).

The funding will allow the business to grow its operations and support fulfilment of orders across the UK and North America before expanding sales across Europe, Asia, Australia and South America.

The company was founded by Matthew Relf who designed and developed Packed Pixels in 2015 – a durable, lightweight and portable laptop monitor to provide users with all the benefits of working on two monitors that they’d experience in the office.

Following the success of the first generation of Packed Pixels monitors, Dovetail Technology has since launched two new models – Packed Pixels Go and Packed Pixels 4K.

Matthew, founder and CEO of Dovetail Technology Ltd, said:

“The idea for the portable laptop monitor came to me through frustration. I often found myself irritated when out on the road with a single laptop screen to work on.

“After a long journey of design, development, testing, and continuously making improvements, I’ve learned so much and I am excited to bring the latest Packed Pixels monitors – Go and 4K – to the market. I firmly believe the latest models are game-changing products for remote workers that need the benefit of multiple monitors. The funding from First Enterprise, Enterprise Loans and MEIF has been fundamental in making this journey happen.”

Sukhveer Chirrimar, Investment Manager at First Enterprise - Enterprise Loans, said:

“We are pleased to be able to support Matthew launch Packed Pixels Go and 4K monitors to the market and look forward to seeing the benefits they will undoubtedly bring to British businesses as they continue to see a large proportion of their workforces work from home.”

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

This is a great example of how MEIF funding can be used to support the launch of new products to market by innovative businesses across the East & South East Midlands.”

Sajeeda Rose, Chief Executive of the D2N2 LEP, said:

“SME growth will be the bedrock upon which our economic recovery from Coronavirus will be based.”

“I’m delighted to see the Midlands Engine Investment Fund supporting innovative and ambitious businesses within our region, producing products that help our region adapt to a working world with a new remote-orientated approach.”

First Enterprise – Enterprise Loans provide government backed finance to businesses across the East and South East Midlands with lending starting from £3,000 to £250,000. Since 2011, they have lent £35.3m to over 1,780 businesses, helping over new 1,120 start-up companies and 660 business expansions.

The Coronavirus Business Interruption Loan Scheme (CBILS) is managed by the British Business Bank on behalf of, and with the financial backing of the Secretary of State for Business, Energy and industrial Strategy (BEIS).

The Midlands Engine Investment Fund 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.

The Community Investment Enterprise Facility (CIEF) was established by Big Society Capital and is managed by Social Investment Scotland (SIS). The fund is here to support viable small businesses throughout the coronavirus crisis. Loans through CDFIs – such as First Enterprise - Enterprise Loans –are accredited for the government’s Coronavirus Business Interruption Loan Scheme.

Follow @midsenginv

#MEIF Small Business Loans can be used to support new product development, expansion projects and purchasing new equipment.

Find out more about the finance type here: https://t.co/jYDjBK5oLs https://t.co/cIlO7HsLrw
MidsEngInv photo

Birmingham-based tele-optometry company, @EyotoOfficial, is set to develop new technology to enable remote eye tests following a £2.5 million funding round, supported by #MEIF and @Midven.

Find out more in @businesslive: https://t.co/djUD8wWvH5 https://t.co/Nl0hhVQIej
MidsEngInv photo

Leicester tech firm @Navitas_Group is set to digitise the food safety industry following a £745k equity investment from #MEIF and @ForesightGroup.

The boost will support the full market roll-out of its food safety technology.

Read more on our website: https://t.co/UFTXQcQpSW https://t.co/CO3PwJJCgW
MidsEngInv photo

Don't forget to subscribe to our newsletter for all the the latest investment news, insights and exclusive interviews.

Sign up on our website: https://t.co/bhaSJ3nvsT https://t.co/kxSnLTPulF
MidsEngInv photo

Derby manufacturer @ComplexiaUK is set to expand and create 7 new jobs after a £100k boost from #MEIF and @1st_Enterprise.

Funding will be used to invest in new machinery and support the firm as it moves into new markets.

Read more in @insidereastmids: https://t.co/wBhDHDCOXi https://t.co/wcCOQx46lT
MidsEngInv photo
Find Out More

If you would like to meet with one of our appointed Fund Managers to talk in more detail please go to Funds Available to find the Fund Managers operating in your area

small business loans

Small Business Loans

£25k – £150k

Small Business Loans pageLearn More
debt finance

Debt Finance

£100k – £1.5m

Debt Finance pageLearn More
equity finance

Equity Finance

£50k – £2m

Equity Finance pageLearn More
proof of concept

Proof of Concept

Up to £750,000

Proof of Concept pageLearn More
Follow @midsenginv

#MEIF Small Business Loans can be used to support new product development, expansion projects and purchasing new equipment.

Find out more about the finance type here: https://t.co/jYDjBK5oLs https://t.co/cIlO7HsLrw
MidsEngInv photo

Birmingham-based tele-optometry company, @EyotoOfficial, is set to develop new technology to enable remote eye tests following a £2.5 million funding round, supported by #MEIF and @Midven.

Find out more in @businesslive: https://t.co/djUD8wWvH5 https://t.co/Nl0hhVQIej
MidsEngInv photo

Leicester tech firm @Navitas_Group is set to digitise the food safety industry following a £745k equity investment from #MEIF and @ForesightGroup.

The boost will support the full market roll-out of its food safety technology.

Read more on our website: https://t.co/UFTXQcQpSW https://t.co/CO3PwJJCgW
MidsEngInv photo

Don't forget to subscribe to our newsletter for all the the latest investment news, insights and exclusive interviews.

Sign up on our website: https://t.co/bhaSJ3nvsT https://t.co/kxSnLTPulF
MidsEngInv photo

Derby manufacturer @ComplexiaUK is set to expand and create 7 new jobs after a £100k boost from #MEIF and @1st_Enterprise.

Funding will be used to invest in new machinery and support the firm as it moves into new markets.

Read more in @insidereastmids: https://t.co/wBhDHDCOXi https://t.co/wcCOQx46lT
MidsEngInv photo

For the latest news and views join our mailing list

Join our mailing list

Just add your details below to receive the latest Northern Powerhouse Investment Fund news and information