Sigma Innovation Fund (East of Scotland) (“SIF”), a fund managed by Sigma Technology Management Limited (“Sigma”), is pleased to announce that it has completed an investment of £250,000 in i-design MultiMedia Limited (“i-design”).
Based in Newport-on-Tay, on the outskirts of Dundee, i-design provides user-interface design and ATM advertising solutions to the financial self-service market. A key part of the company's solution portfolio is ATM:ad - a comprehensive software based and consultancy-led solution which enables ATM network owners to generate revenue by running internal and 3rd party advertising campaigns on their networks.
The company has also established the first ATM media sales specialist agency in the UK and undertakes a wide range of bespoke development projects including software products for the retail market.
This round of funding will be used to support continued product development and for the further expansion of the company’s ATM advertising business in both the UK and Europe.
Mark Hogarth, Business Development Director of Sigma, who joined the Board as a non-executive director, said “We were initially attracted to the proposition by i-design’s management team, whose proven track record of innovation and delivery has allowed them to establish an excellent reputation among their blue-chip client base. i-design have already secured first customers for their innovative ATM:ad solution and the company achieved revenues of approximately £600k last year. We are looking forward to working with i-design as they continue to grow their business”
i-design is Sigma’s eighth investment in Scotland this year.