Town centre "Dragon"

Published on 13 November 2014

The Bedford Business EIS Fund, launched with the backing of key local companies, has made its first investment.

Town centre business entrepreneur Nick Kier, of Lane & Holmes,  is part of the team who are offering investment to quality enterprises to boost business in Bedfordshire.

i-Abra is a high tech company working on artificial intelligence solutions for searching ‘dense data’ for information useful to business. A simple example is the Rapid Recognition system which can identify faces from millions of hours of video.

Founded in 2010 i-Abra of Bedfordshire, is now forging ahead in ground-breaking research which will aid security for businesses and nation-states across the globe.

It has now received an investment of £75,000 which is the first made by the Bedford Business EIS Fund. i-Abra has won other funding from other sources which recognise the value of the organisation and the confidence shown by the Bedford Business EIS Fund.

Ian Taylor, i-Abra CEO and co-founder said: “To have the financial backing, as well as the support of some of Bedfordshire’s most successful business people is a boost to our company and our team.”

i-Abra has won other funding from other sources which recognise the value of the organisation and the confidence given by the Bedford Business EIS Fund.

The Fund’s advisory board is chaired by Justin Phillimore, Managing Director of Charles Wells Ltd and includes Ian Carlisle, former MD of Autoglass, Dougie Hunter, Chief Executive of ARA, William Naylor, former Commercial Director of Gibbs & Dandy and Nick Kier, partner at Lane & Holmes.

Said Justin on behalf of the group: “This is exactly the sort of world-beating technology company which will help to put Bedfordshire on the global map. We were all impressed with the credentials and expertise shown by i-Abra and we hope our support will add to its development for the benefit of the company and the county.”

The Bedford Business EIS Fund is managed by the FSE Group which tailors funding solutions for ambitious and innovative SMEs.  To find out more about the Bedford Business EIS Fund, either as a business seeking funding or as an individual looking to invest into the Fund, please contact The FSE Group  

The FSE Group provides loans and equity investments to SMEs and social enterprises that require funding to enable their growth.  Operating on a profit-for-purpose basis, the Group reinvests surpluses for the benefit of the community it serves. All regulated activities are delivered through FSE Fund Managers Limited, which is authorised and regulated by the Financial Conduct Authority.

The Bedford Business EIS Fund and the FSE Group were advised by Ian Zant-Boer and Jordan Glackin from Milton Keynes- based law firm, EMW

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