£150,000 investment for tech firm mxData

£150,000 investment for tech firm mxData

The Greater Manchester Loan Fund (GMLF) has invested £150,000 in app development and technology business mxData, allowing the organisation to grow and create new local jobs.

Mapway provides people on the move with live information delivered on and offline through a global platform of apps for mobile devices.

The company, part of mxData, was founded in 2004 with a vision of removing the stresses associated with travel by using technology to give consumers the information they need, when they need it.  With 26 apps in total, Mapway covers major global cities such as London, Paris and New York.  Mapway’s most successful app – London Tube Map – has had over 15 million downloads worldwide.

In June last year, the firm moved to their new head office on Atlas Business Park near Manchester Airport, to be closer to Manchester’s talent pool and for better commuter access for their 35+ employees.

With a focus on recruitment and growing the Mapway consumer apps part of the business, mxData will use the investment to aid their growth aspirations and hire new mobile app developers.

Dave Thomas, chief operating office at mxData said: “We are delighted to have received support from the Greater Manchester Loan Fund, via Maven Capital. The investment will really help mxData in recruiting new talent and growing the Mapway business.”

“This year we are set to exceed our forecast and finish the financial year in a stronger position. This investment will aid us in building on our successes and hiring the new talent we need to move our offering forwards.”

In January this year Mapway was accredited by Google as a “Top Developer” of Android apps and their award winning Tube Map app has had over 15 million downloads worldwide.

David Wright, investment manager at Maven Capital, said: “The business has developed an impressive range of apps and services that compete with the best in the world. We’re delighted to have been able to support mxData through funding from the GMLF and look forward to seeing their continued growth over the coming years.”

Mike Blackburn, chair of the GM Local Enterprise Partnership, said: “This is a great investment that will allow mxData to grow and create more jobs. Digital is a key priority growth sector for Greater Manchester and as a city at the heart of the Northern Powerhouse it is particularly fitting that we are supporting a company developing apps in the field of public transport. I look forward to seeing their future work.”