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Here at Igloo HQ, we’re ever-so-happy to announce that the company has raised an
additional £435,000 in funding under the UK Government’s Enterprise Investment
Scheme (EIS).

This latest fundraising round, which closed on 5 April 2020 and values Igloo Vision at
£17.5 million, secured investment from several sources. The largest proportion, at
£200,000, came from the London-based brokerage house and fund manager
Mariana UFP LLP under its Growth EIS Fund. The remaining £235,000 was secured
from Igloo’s existing Midlands-based investors, including the Greater Birmingham
EIS fund and Frontier Development Capital.

Igloo CEO Dennis Wright said: “The fact that we were able to secure the
investment in the midst of the Coronavirus crisis demonstrates the strength of
the Igloo proposition. Our investors were particularly impressed by how we
continued to get the Igloo message out, develop our solutions, and sign-up
new business. As the crisis recedes, we will be in a strong position to resume
our growth story.”

The investment will help us build out our existing software suite and refine our
product range, including our new immersive workspaces and video solutions.
Igloo’s previous funding round closed less than a year previously, in May 2019, when
Frontier Development Capital invested £1 million. Since then, staff numbers have
grown from 50 to 80, we have entered into a partnership with the world’s largest
AV systems integrator, and have added a whole host of incredible names to the
client roster – like WarnerMedia, NTT, Automobili Pininfarina, and Telstra.

What makes me happiest of all about the announcement is its symbolic value
to the Igloo team,” concludes Dennis Wright. “Our people are working incredibly
hard to keep the company on track through the crisis, and this investment
stands out as an important vote of confidence.



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