Success Story
| Region/Nation | East Midlands |
|---|---|
| Sector | Arts, Entertainment and Leisure |
| Programme | Midlands Engine Investment Fund |
| Partner |
Leicestershire-based Velobici manufactures and distributes high-end cycling apparel and accessories. It uses sustainably sourced fabrics and has an adaptable manufacturing strategy that helps limit excess production.
Velobici received a £500,000 investment from the Midlands Engine Investment Fund (MEIF) – managed by the FSE Group – to fuel expansion and strengthen its position in the global market. The company will use the funds to create seven full-time jobs over the next three years, increase its stock levels to meet market demand and move to larger premises. This will enable the business to increase production capacity and grow its distribution channels overseas.
Tags related to this content:
More success stories
Read a success story about Ruuby
An on-demand beauty marketplace, which allows customers to order a host of beauty services to their desired location, has raised £2m to accelerate its growth in the North West by doubling down on its existing operations in Manchester and Liverpool.
Read a success story about Power Roll
Based in Murton, Power Roll, a pioneer in the solar energy transition, has raised £4.3 million in its most recent funding round, including £1.5 million from NPIF II – Maven Equity Finance, which is managed by Maven Capital Partners as part of the Northern Powerhouse Investment Fund II.
Read a success story about Xentra
A fast-growing Leeds cybersecurity company secured a six-figure loan from NPIF II – Mercia Debt Finance, which is managed by Mercia as part of the Northern Powerhouse Investment Fund II (NPIF II).