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Neath-based Vortex IoT acquired by national tech company

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The Development Bank of Wales have announced that they have successfully exited Vortex IoT Limited just three years after providing initial pre-seed capital funding to the technology start-up that now employs 35.

The Neath-based supplier of environmental sensors, networks and data solutions has been acquired by  Marston Holdings, the UK’s leading provider of integrated, technology-enabled transport solutions. Figures have not been disclosed.

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Marston supports government, utilities and private sector clients through the delivery of market leading integrated technology-enabled solutions from design through to implementation, management and recovery.  Marston’s clients include local authorities seeking to build environmental schemes that reduce congestion and pollution.  With the acquisition of Vortex, Marston will strengthen its offering by delivering complementary air quality solutions that maximise awareness, identify pollution hotspots and improve public health. 

Headquartered in Neath, Vortex IoT was founded by CEO Adrian Sutton and CTO Behzad Heravi. It is made up of a highly-skilled team of 35 that includes engineers with expertise in emerging technologies, Artificial Intelligence (AI), 5G, LiDAR laser technology and machine learning. 

As equity funders, the Development Bank of Wales invested £250,000 pre-Seed capital followed by a further £250,000 from the Wales Business Fund alongside London-based Start-up Funding Club (SFC Capital). Having enabled Vortex to scale-up in just three years, the Development Bank has now exited.

Adrian Sutton, CEO of Vortex IoT, commented: “Joining Marston Holdings accelerates Vortex IoT’s ability to deliver social value and environmental change for clients, and we’re delighted to collectively build on the existing relationships we have established as trusted partners to our clients in bringing cutting edge smart city and environmental monitoring solutions to market.

“The equity funding and support from the Development Bank made a difference to our business, enabling us to be at the forefront of the fight against climate change with the development of solutions that help reduce carbon emissions. It’s also what has given us the platform to build a business that is attractive to bigger players like Marston meaning that we can continue to grow with the benefit of the Welsh ecosystem all around us.”

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Alexander Leigh, Senior Investment Executive with the Development Bank of Wales said: “As early investors in Vortex with pre-seed capital and follow-on funding, we are delighted to have supported the growth of this exciting business over the last three years.

“It’s hugely rewarding to exit a start-up after such a short period of time, particularly having seen the team benefit from the support available here in Wales. They could have set-up anywhere in the world but chose Wales because of our can-do attitude, the help available for entrepreneurs in the tech sector and the lower cost base.   

“Marston’s acquisition of Vortex now further accelerates the opportunity for the team to deliver their innovative air quality solutions that are very much needed for a zero-carbon economy whilst also continuing to invest in highly skilled jobs from their base in Neath. It’s a brilliant success story that we are really proud to have played a part in.  

The acquisition of Vortex follows the 2019 acquisitions of Videalert, a supplier of intelligent traffic management solutions; ParkTrade, a Swedish-based European tolling payments and collections business; and LogicValley, an Indian-based AI focused developer.  Vortex’s products further bolster Marston’s transportation technology division, ensuring Marston is best placed to meet the evolving needs of its client base. 

Mark Hoskin, Chief Commercial Officer at Marston Holdings added: “We have a long track record of successfully working in partnership with the public sector, and this acquisition reflects client feedback seeking innovative, technology-enabled solutions. COP26 demonstrated public support for driving the transition to a zero-carbon economy, and we’re pleased to further enhance our ability to support our clients and their residents through cleaner, healthier and more people-friendly communities.”

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Welsh and UK Governments agree to establish Freeports in Wales

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The Welsh Government has reached agreement with the UK Government on the establishment of Freeports in Wales.

Welsh Ministers have agreed to support Freeport policies in Wales following the UK Government’s agreement to meet the Welsh Government’s demands that UK Ministers provide at least £26m of non-repayable starter funding for any Freeport established in Wales, which represents a parity with the deals offered to English Freeports.

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The UK Government have agreed to meet a number of other demands – including that both Governments will act on the basis of a ‘partnership of equals’ to deliver any Freeports in Wales.

In addition, both Governments have agreed a Freeport will only be implemented if it can be demonstrated clearly it will operate in a manner that aligns with the Welsh Government’s policies on fair work and environmental sustainability, including the commitment to Wales becoming a net-zero carbon nation.

Economy Minister, Vaughan Gething said: “Following considerable engagement between our Governments, I’m pleased we have been able to reach agreement with UK Ministers to establish Freeports in Wales. The agreement we have reached is fair to Wales, and respects the Welsh Government’s responsibilities in devolved policy areas.

“However, we have made it clear to the UK Government that a Freeport will only be implemented if it can be demonstrated, using robust evidence and analysis, that it will support our fair work agenda and deliver long-term, sustainable benefits for Wales, and value for money for Welsh taxpayers.

“I very much hope that the UK Government’s willingness to work with the Welsh Government as equals on Freeports can provide a positive model for future co-operation between our governments on other initiatives.”

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The UK Government’s Secretary of State for Levelling Up, Housing and Communities, Michael Gove said: “I am delighted that Wales is the latest area in the UK set to benefit from a new Freeport.

“The UK Government’s ambitious Freeports agenda will help to level up our coastal communities and create new opportunities for people right across the country.

“Together with the Welsh Government, I look forward to seeing innovative proposals come forward that demonstrate tangible benefits for the people of Wales.”

In addition, Welsh and UK Ministers have agreed that the UK Government will provide tax incentives for Freeports in Wales in parity with Freeports in other parts of the United Kingdom for the reserved taxes that have been designated to advance the policy aims. The Welsh Government will design tax reliefs from local and devolved taxes (Non-Domestic Rates and Land Transaction Tax) to support the policy aims.

Both Governments say they will remain open to the possibility of a multi-site Freeport in Wales. In recognition of Wales’ unique economic geography and the Welsh Government’s aspirations for economic development in Wales, the UK Government is willing to relax the 45 km boundary limit for a multi-site Freeport solution, should there be a sufficiently compelling case for doing so.

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Both Governments will also remain open to the possibility of allowing more than one Freeport in Wales, should they be presented with a sufficiently compelling business case.

As with English Freeports, a fair and open competitive process will be used to determine where the policy should be implemented in Wales. Both Governments will work together to co-design the process for Freeport site selection, and both will have an equal say in all decisions throughout the implementation process. This includes the final decision on site selection.

Both Governments have begun the process of designing the bid prospectus for the competition and further details about the timing of next steps will be released in due course.

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Swansea digital agency iCreate enters the metaverse with bespoke digital environments

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Swansea-based creative agency iCreate is entering the metaverse by creating 3D visual environments for Dubai-based NFT boutique Jumi – a new outlet for curated digital art.

The metaverse hit the headlines last year when Facebook’s parent company rebranded to Meta, reflecting the growing potential of the internet to offer an interactive virtual world through AI and 3D digital animation.

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The metaverse offers social connection through technology, interaction with brands and businesses, and online recreation.

It encompasses everything from online video games to virtual shops where you can digitally try on items before you buy them, and bespoke venues for online events of all kinds.

It’s expected to expand into an online world where people will have their own virtual avatars which they take from one virtual environment to another, purchasing virtual products for them and housing them in virtual homes.

This is where iCreate – which specialises in creating digital environments – comes in. The company provides CGIs, 3D flythrough animations, VR tours and marketing brochures to the off-plan property sector.

From interactive, customisable home interiors that enable buyers to plan every detail of their dream home, through to large-scale digital animations of new housing developments, iCreate is adept at creating virtual environments that look and feel like the real thing.

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Now it’s teaming up with Jumi and other partners to create digital environments that will never be built in the real world, but will exist in the metaverse, where people’s avatars can explore and socialise in them.

A key aspect of the metaverse is non-fungible tokens (NFTs): digital assets that can be bought and traded. These are increasingly hitting the headlines as everyone from independent artists to big brands creates and sells digital-only products, music, artwork and more.

Dawn Lyle (right) and the team at iCreate

Jumy, which completed a $1.2M seed funding round last year, is the ultimate NFT boutique marketplace for exclusive digital art. All artworks are curated from the world’s most creative digital artists, to guarantee outstanding quality.

The platform is the world’s first to offer a fully integrated digital art experience where visitors will be able to purchase pieces with payment cards, trade their NFTs, order NFT frames (digital frames for NFT art) and flex their NFTs on metaverse – all in one place.

By collaborating with Jumi, iCreate will make beautiful, exclusive digital environments for displaying NFTs in the metaverse. From here, it’s expected that a new market in bespoke virtual homes and offices will develop over the coming years, as more aspects of all our lives are lived in the metaverse.

Dawn Lyle, iCreate’s co-founder, said: “We’re delighted to have formed this new partnership with Jumi and to be taking our bespoke digital environments into the metaverse.

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“The metaverse offers such a wealth of possibilities, and over the coming years it will become increasingly common to play, meet and do business with people all over the world in virtual settings.

“We’re excited to be creating stunning digital environments in which these activities can take place; in the metaverse, there are no limitations and it’s possible to bring dreams to life, creating astonishing virtual places that delight and surprise. It gives us the opportunity to put all our creative skills to use in exciting new ways and we can’t wait to get started.”

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River Island launches its brand new Swansea concept store this weekend

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Fashion chain River Island is revealing its brand new concept store at Morfa Retail Park in Swansea on Saturday (7 May).

Located at the former New Look store at Unit 6 on the Brunel Way shopping centre, the new store is just a few doors down from its previous outlet, although promises to be an even bigger and better boutique shopping experience.

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Located across two floors, the 8,253 square foot store has been specially curated to the tastes of Swansea shoppers according to the fashion chain.

Set across one level, womenswear will occupy just over half the space, with the remainder split between menswear and kidswear, stocking kids, mini and baby.

To celebrate the new opening, River Island will be hosting a launch event weekend in-store on the 7th and 8th of May, where shoppers can expect to hear celebratory sounds with in-store DJ sets, whilst the first lucky 100 customers through the doors will receive a £10 gift card which can be redeemed in-store or online.

Frances Baker, River Island Property Director said: “River Island is thrilled to be relocating and open ing a new boutique store in Swansea, Morfa as part of our segmentation programme.

“We are excited to introduce our concept store to our existing loyal customers, with exciting opportunities to acquire new customers with our new look-and-feel store.”

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River Island say the store upgrade strengthens its 300 strong estate and solidifies its message of “standing by the high street”, a campaign set up in the midst of the coronavirus pandemic to show solidarity with other high street brands negatively hit by the effects of the pandemic.

The fashion chain say that by investing in finding ways to encourage and entice customers to return to in-person shopping it hopes to “enhance and improve the shopping journey for its customers”.

(Lead image: River Island)

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