REALRIDER secures £1m to scale up

REALRIDER secures £1m to scale up

Technology innovators Realsafe Technologies have secured £1m of investment to scale their business, bringing with it new board members.

The multi award winning company, and former BQ Emerging Entrepreneur, focuses upon developing unique safety-based technology services that directly connects users to the emergency services in their time of need.

Following three years of research and development, Realsafe Technologies has secured 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." 

Rivers Capital Partners have followed their original investment in the company with £500,000 VC funding through the Business North East Angel Fund.

Dr. Michael Dickens, fund manager, added: "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."

Andy Scaife, CEO of Quantum Pharmaceutical will join as non-executive chairman. He said: "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."

Stephen Purvis, group CEO of Newcastle based SGP Technology Group who has also been invited to sit on the board, added: "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."

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