Midven invests in projection business
Birmingham venture capitalist Midven has injected more than £255,000 in a Shropshire business specialising in product launches, corporate entertainment, music and sporting events.
Igloo, based in Craven Arms, Shropshire, develops "360 degree immersive digital projection". The technology allows audiences to experience an "all encompassing audio-visual experience" – incorporating high definition, cinematic-quality video and studio-quality sound.
Igloo, which employs eight people, has already worked with clients including Sky, Toyota, Miele and UK Trade and Investment (UKTI).
Midven's Exceed Fund will now invest more than £255,000 in the company.
Dennis Wright, chief executive, said: "The Midven investment will help us to take the company to a whole new level. We can buy more powerful technology, we can develop new applications, and we can get our message across to more people."
Surjit Kooner, a director of Midven, added: "Igloo has recognised the potential of 360 degree projection. In the past, such technology suffered from poor quality projection, but Igloo has improved the experience to the extent that major brands are recognising the potential for product launches and marketing.
"The Igloo domes are the perfect environment to host unforgettable music events, corporate entertainment and product launches."
