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A Walton Summit-based firm is to see a six-figure investment to create new jobs and expand.
Smart technology firm Origin Control Solutions creates tools allowing businesses or individuals to monitor buildings remotely and see data from them.
It means lighting, heating and security can be controlled without needing to be on site.
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The six-figure investment, as reported by Prolific North, comes via the government-backed Northern Powerhouse Investment Fund – known as NPIF II – and is administered by FW Capital and backed by the British Business Bank.
Three new jobs in the firm’s technical and admin departments are being created.
Origin, which was founded in 2016, already employs ten people.
Founder and chief executive of Origin, Peter Rawlings, said: “Our innovative platform is helping many businesses to reduce costs, improve uptime, and support sustainability commitments.
“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 at FW Capital has been brilliant, guiding us through the funding process and making it quick and easy. Any questions he’s been there to answer and we’re now putting the funding to good use to expand and innovate further.”
Senior investment executive at FW Capital, Steve Molyneux, 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.”
The Northern Powerhouse Fund II is a £660m package covering the whole of the North of England, and provides loans of £25,000 to £2million and equity investment to help small to medium size businesses to expand and grow.
Senior investment manager at the British Business Bank, Sue Barnard, 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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