Supercomputing startup Ebb3 gets £1 million funding

Cheshire-based Ebb3 specialises in the virtualisation of 3D graphical applications, and has raised £1 milllion from Maven Capital Partners.

Maven, a venture capital trust (VCT), has also reserved up to £500,000 for follow-on investment in the business.

Ebb3 will use the money to hire more people and to expand its offering.

Mark Vickers, CEO at Ebb3, commented: “We are proud to have secured Maven’s confidence and investment in Ebb3. We were able to demonstrate the benefits of our solutions, which can now be used to help more customers make their business mobile, flexible and streamlined.

“Over the coming months, we look forward to recruiting more talented people to the team and increasing our ability to grow the business rapidly,” Vickers added.

Today’s announcement comes after Maven said in February that it would look to allocate £57.5 million to growing SMEs across the North of England as a result of a deal with the Northern Powerhouse Investment Fund (NPIF).

At the time of the announcement, Maven said it would be investing sums in between £50,000 and £2 million in each selected firm.

High-potential firms in Lancashire, Greater Manchester, Liverpool, Cumbria, Yorkshire & Humber and Tees Valley are also set to benefit from the funds.

A few weeks later, Maven also announced it had been appointed manager of a £20m investment fund by Business Durham – the economic development firm for County Durham, working on behalf of Durham County Council.

In this instance, the VCT said it would seek to invest anything ranging from £10,000 to £2 million to approximately 70 firms based in the area.