NorthStar Ventures join amBX £500k Round
A software company which span-out from multinational Philips in Holland is now able to further develop and commercialise its technology thanks to funding from North East investors.
amBX (UK) has developed a patented software which allows intelligent and interactive control of coloured LED lighting.
Following a further £500,000 investment by a Tiger Corporate Finance-led syndicate of 15 high net worth individuals in the North East and regional venture capital firm Northstar Ventures, the full capabilities of the original ideas can now be fully implemented. The technology itself is protected by 46 associated design patents.
The growth of the business is being led by the senior team at amBX, comprising of Keith Taylor (chairman), John Niebel (CEO), Neil MacDonald (COO), David Eves (CTO) and Richard Cole (development director), all of whom have experience within the sector.
Tiger Corporate Finance, advised by lawyers at Watson Burton, led the deal with Northstar Ventures coinvesting from the Finance for Business North East Accelerator Fund.
The syndicate also introduced new investors The ESRG Group. Led by ex-rugby union international Tony Copsey, The ESRG Group which is based in Hertfordshire, has completed one other investment deal in the North East and is working with Tiger Corporate Finance on another technology commercialisation opportunity.