A Gloucestershire-based consultancy firm, Carbon Magics, has secured a £15,000 Start Up Loan from SWIG Finance in Truro to expand its operations. The funding will be invested in a new workshop and state-of-the-art equipment.

Carbon Magics specialises in technology research and product development across various sectors, including AgriTech, Clean Tech and Assistive Technologies. Led by Priya Vijayakumar, the company aims to become a global leader in research, product development, and technology and business consultancy.

Since its inception, Carbon Magics has forged partnerships with prominent composite manufacturers and raw material producers to explore innovative ways of recycling carbon fibre waste. It currently employs a team of four and the recently acquired loan has enabled the company to establish a new workshop and invest in advanced machinery, including a 3D printer, a drone and computer.

Priya Vijayakumar, founder, said: “This crucial support from SWIG Finance enabled us to secure a new premises, which offers several advantages, including more accessible space for drone training, drone practice and soldering activities. Additionally, the workshop provides room for 3D printing machines. Looking ahead, the space will also be utilised for machinery-related activities, further enhancing the company’s capabilities.”

Suzy Lowe from SWIG Finance concluded: “Priya has done a great job growing her company organically, having developed a portfolio of products and services that all have further growth potential. The Start Up Loan Scheme is there to support businesses like Carbon Magics, providing them with a cash injection so they can continue developing the business at a much quicker rate.”

Image is of Carbon Magics founder Priya Vijayakumar (Image credit: Carbon Magics)