A TECHNOLOGY company based in Lower Bullingham has received £500,000 of equity investment from a venture capital investment firm.

eTravelSafety is venture capital firm Midven's first investment in the Marches area through the Midlands Engine Investment Fund.

The tech company eTravelSafety works to improve business travel safety by providing personalised travel risk assessments so that employees can travel around the world safely.

The £500,000 equity investment from Midven will allow the company to accelerate product development, broaden the sales team and increase their marketing reach.

Stuart Anderson, Chief Executive Officer at eTravelSafety, said: "“The market for travel safety and risk management is growing rapidly due to increasing political unrest, terrorism and criminal activity. eTravelSafety gives business travellers a comprehensive, engaging mobile platform to help ensure they are safe wherever they go. Our products allow for effective risk management, and on-the-go e-learning, enabling business travellers to discover more about their final destination on any device.”

Surjit Kooner, Investment Director at Midven, commented: "eTravelSafety has developed an exciting proposition which is starting to build traction with corporates, public bodies and NGOs, who are all increasingly looking to provide greater protection for employees while they are overseas.”

Graham Wynn, chairman of the Marches LEP, added: “The success of companies such as eTravelSafety is vital to the continued growth of our region and our strategy to develop an innovative, modern economy across the Marches. The Midlands Engine Investment Fund is designed to help in exactly these circumstances and we are delighted we have been able to support the company’s vision in this way.”