A firm specialising in smart buildings* and remote monitoring solutions has secured a six-figure investment to drive growth.
Preston-based Origin Control Solutions (Origin) has received the six figure investment from NPIF II – FW Capital Debt Finance, which is managed by FW Capital as part of the Northern Powerhouse Investment Fund II (NPIF II).
The firm is using the funding to accelerate growth through further research and development. This is an integral part of Origin’s expansion strategy which involves the development of new technologies to enhance their current service offerings and enhance their IoT (Internet of Things)** eco-system. The funding is also helping to create three new roles in the technical and administration departments.
Founded in 2016 by Peter Rawlings, Origin delivers smart technology solutions which enables customers to have total remote monitoring of their assets and buildings. All sensors and controls are available in a single cloud portal, giving customers total control and transforming workspaces into intelligent, sustainable environments.
Origin has developed its own software platform and Cloud app which provides clients with an IoT dashboard that allows them to access and control live data delivery. The company aims to harness the potential of data collection within buildings and spaces to drive efficiency, identify enhance workspaces and deliver substantial cost savings for businesses.
Peter Rawlings, CEO and Founder at Origin 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.”
Steve Molyneux, Senior Investment Executive at FW Capital 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 are making real change here and I’m pleased to support them with the next stage of their development.”
Sue Barnard, Senior Investment Manager at the British Business Bank, 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.”
The £660m Northern Powerhouse Investment Fund II (NPIF II) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
The Northern Powerhouse Investment Fund II aims to build on the success of the initial fund, with the purpose of driving sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England.
The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance. FW Capital will provide debt finance options from £100,000 to £2million to businesses based in the North West of England, with some flexibility to lend across the North.
*Smart Buildings use technology to communicate and control systems like lighting, heating, and security. Smart buildings can be more energy efficient, adaptable, and secure than traditional buildings.
**Internet of things (IoT) describes devices with sensors, processing ability, software and other technologies that connect and exchange data with other devices and systems over the internet or other communication networks.
