Digital production and events specialist Igloo has secured investment totalling £255,000 from venture capital firm Midven.
Renowned for providing igloo-shaped tents for music festivals such as Glastonbury and the Big Chill, Igloo will use the money to expand its market reach – having already received enquiries from the Middle East, South Africa and the US.
The company has also developed its own software, the Igloo Media Player, to project 360-degree images; Midven’s funding will be channelled into refining this existing technology for use in applications such as advertising, projection mapping and floating balloon billboards.
In addition to its festival work, Igloo’s client base includes corporates such as Sky and Toyota, and the company also works with UK Trade and Investment. Chief executive Dennis Wright believes the Midven investment will take Igloo’s profile “to a whole new level.”
Wright adds: “We can buy more powerful technology, we can develop new applications, and we can get our message across to more people.”
Colin Yellowley, Igloo’s managing director said, “Prime Minister David Cameron has already had taste of the Igloo 360 degree experience, when UK Trade and Investment used us to promote British technology.
“Here we have a company that is working in a fast moving, highly creative environment. The business has worldwide applications and is attracting attention from across the globe.”