Midven Provides £250,000 Venture Capital Investment for Growth To Defence and Security Firm Amba Defence
Birmingham, West Midlands (PRWEB UK) 20 May 2014 -- Amba Defence, a West Midlands-based company that provides innovative defence, security and safety equipment and monitoring services, has secured investment of more than £250,000 from Midven.
Amba Defence delivers bespoke services to national infrastructure, national and international governments, private institutions and high net-worth individuals.
The £256,000 venture capital funding, made through Midven’s Exceed Fund, will enable Amba to expand its product portfolio of advanced technologies and recruit additional staff to support the organisation’s growth plans.
With a focused team of experienced professionals, Amba provides security and defence solutions delivered by its four divisions: Consultancy, Solutions, Technology and Control.
Managing director Shires Crichton, who formed Amba Defence just over a year ago, acquired two established businesses from Westminster Group Plc. and IP from Ground Hawk Ltd to form Amba. Shires Crichton said: “Unlike many of our competitors, Amba’s product portfolio includes advanced technologies that are developed and manufactured by our team here in the UK. We are particularly proud of our Manta Under-Vehicle Inspection System, which is currently assisting the security forces around the globe to protect key facilities and resources from the on-going threat of concealed explosive devices.”
“The investment is timely as we are at a stage where we are ready to grow the team and the business and move the organisation to the next level,” Crichton continued.
Surjit Kooner, Midven investment director, said: “Amba has made impressive advancements over the past year and operates in a large, growing market valued at £43B. It has quickly established itself as a trusted and quality supplier of security solutions and has a well-respected and connected management team which is well placed to drive the company forward to achieve its growth ambitions. We believe the Midven investment will allow Amba Defence to accelerate its growth and continue to innovate to meet national security needs.”
Midven invests in high-growth businesses and is the leading provider of venture capital funding to early-stage and established businesses in the West Midlands.
About Amba Defence
Amba Defence is a fully accredited Security, Safety and Defence Company and hold current certifications with the National Security Industry Association (NSI), Security Systems and Alarm Inspectorate Board (SSAIB), and the British Security Industry Association (BSIA).
Addressing a market valued at £43B, Amba intends to continue to expand its defence and security business by offering a ‘one stop shop’ boutique service to its select client base.
Amba is committed to staff development and is on an education program to further enhance their qualifications. Amba has also signed up to the government’s apprenticeship scheme and has three young people who are extremely valuable to the business. By virtue of the diversity of our business, it is important to invest in our staff especially when providing such a comprehensive service to our clients.
Amba is based in Kidderminster in the West Midlands, which provides excellent links to national and international security markets. For more information, please visit http://www.amba-defence.com.
About Midven
Midven is the leading Midlands-based provider of venture capital funding to early-stage and established businesses. The Birmingham-based venture capital firm currently manages five funds representing a total of £74m under management. Midven was established in 1990 and has grown significantly since the existing management team took ownership of the business in 2007. The Midven team has established a reputation for delivering solid commercial experience and creative business solutions to help their portfolio companies achieve exceptional outcomes. For more information, please visit http://www.midven.co.uk or follow @Midven on Twitter.
Jennifer Edwards, Midven, http://www.midven.co.uk, +44 1217101990, [email protected]
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