Falmouth Launchpad Tech Company receives CIOSIF Investment
Penelope Garden, FSP’s Head of Private Equity and Venture Capital, advised Cornwall & Isles of Scilly Investment Fund (CIOSIF), managed by The FSE Group, on its investment alongside GameTech Ventures into Amutri, a start-up technology company providing 3D visualisation software as part of £0.5 million funding round which will fund promoting the growth of the business, supporting further product development, marketing and sales.
Amutri Ltd, founded in 2021 as part of the Falmouth Launchpad entrepreneur accelerator programme, has developed technology that enables stakeholders of architectural and engineering projects to create and share 3D content and view rich 3D experiences powered by cutting-edge gaming technology, on any device quickly and easily. This will allow design teams to re-imagine how they work together and engage with their customers, as well as enhance stakeholder experiences to generate better engagement and increase sales.
Although the benefits of 3D Visualisation technology are clear, it’s difficult to adopt and expensive to maintain. Amutri is building a step-change product that delivers a simple path to adopting 3D Visualisation technology, making the technology easy to access, rapid and cost-effective, for the first time.
Michael Calver, Amutri CEO, said: “As a young and ambitious company, we recognise the importance of support in realising our goals. This investment will propel us forward in further developing our innovative products to lower the entry point to 3D Visualisation technology for many industries. We value GameTech Ventures’ and The FSE Group’s confidence in our vision and are thankful for their support at this early stage. We look forward to continued collaboration as we work towards achieving our growth plans.”
The 3D Visualisation industry is worth around USD 23 billion and is expected to grow due to technological advancements and increasing demand across various industries. Real-time 3D visualisation is becoming more popular and could lead to greater adoption of the technology. Amutri’s solution removes time constraints and expands accessibility, ultimately increasing the addressable market.
Meg Salt, Investment Manager at The FSE Group, added: “Amutri is an exciting disruptor in 3D Visualisation. Their technology has garnered positive feedback from end users and has a large addressable market. The experienced team has already established a strong pipeline of international clients for whom Amutri is removing barriers to producing 3D experiences. The company is poised for rapid commercialisation and further functionality in 2024 and we are delighted to be working with them as they continue to grow.”
The £40m Cornwall & Isles of Scilly Investment Fund was established by the British Business Bank in partnership with the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP) to provide debt and equity finance to help growing small businesses across the region.
Funding through CIOSIF came to an end in December 2023 but wider funding is now available through the British Business Bank’s £200m South West Investment Fund providing loans from £25k to £2m and equity investment up to £5m.
