Oxfordshire-based Airbox Systems is a leading situational awareness tool designed to streamline operational responses for emergency services. In a recent development, the company secured a £1.5m loan from BOOST&Co, an alternative lender.
Airbox Systems will now prioritise the continued growth of its team and the expansion of its operations. It will use the amount to support its goal of doubling in size during the next 12 months.
The loan has been provided under the Coronavirus Business Interruption Loan Scheme (CBILS).BOOST&Co is a leading provider of growth capital for innovative, fast-growing UK SMEs. The independent asset manager offers loans from £2 million to £10 million, covering a wide range of sectors, with a strong track record in technology, media and telecommunications (TMT). To date, the lender has provided nearly £200 million under the government’s CBILS initiative to support UK SMEs during the pandemic.
William Moore, chief executive at Airbox Systems, says: “Airbox is all about helping the emergency services to protect life. This funding will enable us to more than double the 50,000 operations conducted with Airbox every year, which is a fantastic outcome for us as a business and, I hope, for the general public too. The support from BOOST&Co means that we can make our growth ambitions a reality, and we are looking forward to building on this new partnership as we continue to expand.”
Faye McDonough, Cambridge-based principal at BOOST&Co, says: “The Airbox team is passionate about facilitating collaboration across the emergency response sector and this came across in all of our interactions. They dominate a number of their existing markets with their game-changing products, but they want to do more. This investment will enable the business to scale, providing the growth capital it needs to expand its team and take advantage of its current momentum and new business opportunities. Airbox is a fantastic addition to BOOST&Co’s portfolio.”
Handles high-pressure events
Airbox Systems founded by William Moore has revolutionised how emergency services respond by helping teams to visualise their environments and share data in live situations. The software is used in the UK and globally. It is deployed during high-pressure events such as to guide rescue helicopters to the correct location or to create maps of evolving riots that can direct officers to where they need to be.
Its solution, Airbox mapping, is used by the Cabinet Office to enable 80,000 first responders through its free-to-use system ResilienceDirect. This helps trained responders to evaluate complex situations.