Realsafe Technologies secures £1m investment
North East based technology innovators, Realsafe Technologies, continues its rapid expansion plans securing a seven-figure sum of new investment and making key appointments to its board.
The multi award winning company focuses upon developing unique safety-based technology services that directly connects users to the Emergency Services in their time of need.
Following a three-year period of research and development, Realsafe Technologies has secured £1million of funds, a mixture of private investment, venture capital (VC) support and social enterprise loan in a new drive to help scale the business and push its core product REALRIDER® out to market.
Realsafe Technologies CEO, Zoe Farrington said: “After a number of years in development we have now reached a point where we are ready to proactively launch our product and set about driving a commercial return.”
“In order to do that the company needs to grow both in terms of staffing as well as insuring we have made REALRIDER® the best it can possibly be. The new round of investment will allow us to do that quickly and effectively.”
Dr. Michael Dickens, Fund Manager at Rivers Capital Partners, who has followed their original investment in the company with £500k VC funding through its Business North East Angel Fund, commented:
“We have supported Realsafe Technologies from the very start seeing the potential in the very early stages. Working together over the last three years we have built a strong partnership with the team and it is a pleasure to be able to commit further funds into the project at this critical time.“
In line with the company’s growth plans, Realsafe Technologies has also made a number of key appointments to its board.
Andy Scaife, CEO of Quantum Pharmaceutical will join as Non-Executive Chairman. He commented: “I am thrilled at becoming Chair of Realsafe. I’m looking forward to working alongside the team to accelerate the company’s growth, hone its assets and maximise its significant market potential.”
“Realsafe Technologies is an excellent example of a ground-breaking, home-grown, North East technology company that I am proud to be involved with.”
Andy replaces Hossain Rezaei who steps down following retirement, after three years in the role.
Zoe said: “We’d like to thank Hossain who has been an ardent advocate of ours over the last few years.
“We also welcome Andy whose vision, experience in developing strategic relationships and identifying areas for future growth is second to none and will only serve to cement the foundations laid by Hossain. He is a true asset to have on board.”Stephen Purvis, Group CEO of Newcastle based SGP Technology Group who has also been invited to sit on the board said: “I am delighted to have joined Realsafe Technologies as both an investor and the Board as Non-Executive Chief Technology Officer.“
“REALRIDER® is at a particularly exciting point in its technology platform development which I am confident will serve as a broader catalyst and inflection point for future growth. ”