Member Article

Sheffield integrated technology firm wins £400k Finance Yorkshire backing

A Sheffield-based business specialising in 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.

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.

This was posted in Bdaily's Members' News section by Clare Burnett .