Sigma Technology Venture Fund (“STVF”), a fund managed by Sigma Technology Management Limited (“Sigma”), is pleased to announce that it has led a total investment round in i-design multimedia limited (“i-design”) of £1,000,000. STVF invested £443,000 as lead investor alongside the Scottish Co-investment Fund, which invested £443,000, the non-executive Chairman, Jim Faulds, who invested £79,000 and management, who invested £35,000.
i-design provides ATM advertising solutions and user-interface design to the financial self-service market. i-design’s flagship product is ATM:ad which is an end-to-end, integrated business and technical solution that enables ATM network owners to generate significant new revenue from third party advertising. In addition, the company established the first specialist ATM media sales agency in the UK and has been delivering revenue to clients since June 2004.
This round of funding will be used to support further expansion of the company’s ATM media sales agency and software sales business in both the UK and Europe.
This investment in i-design follows a previous investment led by Sigma in November 2004 and takes the total funding arranged by Sigma to £1.25m. Mark Hogarth, Business Development Director of Sigma, joined the Board as a non-executive director at the time of Sigma’s first investment and will continue in this role.