A Sheffield based business which is leading the way in the growing market of integrated home technology has attracted a £400,000 Equity Linked investment from Finance Yorkshire.
Konnectiv Technology Limited, established in 2010 by Kris Hogg, designs, installs and programmes home control and entertainment technology for property developers. Having won numerous awards, including a coveted ‘Integrator of the Year’ award Konnectiv is recognised as a leader in its field, across entertainment, heating and lighting, energy and security.
The firm is using the cash injection to support its projected growth; specifically, to fund a move to new premises and to invest in key staff, including a new sales director. Business Angel David Belford has also invested in Konnectiv and taken on the role of Chairman.
Konnectiv Managing Director Kris Hogg, who was recently appointed Chair of industry body CEDIA, said: “We are delighted to have attracted funding from Finance Yorkshire. It means that we have an investor which is not only supporting us financially, but one which is engaged with us and committed to ensuring our success.
“We are now in an excellent position to achieve our growth projections.”
Finance Yorkshire Investment Manager Darren Morris said: “Konnectiv is at the leading edge of a growing market; increasingly, home owners at the higher end expect integrated control systems as standard. We believe the business is now uniquely positioned to capitalise on its already strong position.”
The Konnectiv Technology management team was advised by Alistair Scot-Somers of Bond Dickinson, Leeds.
Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m to help a range of small and medium sized businesses to meet their funding requirements for growth and development.
To date Finance Yorkshire has made 517 investments totalling over £63 million.
The project is supported financially by the European Union. It has attracted £30million investment from the European Regional Development Fund (ERDF) as part of Europe’s support for the region’s economic development through the Yorkshire and Humber ERDF Programme, £15million from UK Government and £45million match funding from the European Investment Bank.
