<\/p>\n
Rob Stevenson of Maven and Joe Charlesworth<\/p>\n
Highway Data Systems, which provides quality assurance technology to the road construction sector, has secured \u00a31.25\u00a0million for growth, including expansion of its foothold in the US.<\/p>\n
The support package for the Glasgow-based company is from the Investment Fund for Scotland managed by Maven Capital Partners\u00a0and delivered by the British Business Bank (BBB).\u00a0<\/p>\n
HDS\u2019s technology automates manual, labour-intensive and safety\u00a0critical testing processes.\u00a0\u00a0<\/p>\n
It has a\u00a0strong client base in the UK\u00a0and\u00a0a growing base in the US. The business supports\u00a0a number of\u00a0high-profile\u00a0industry contractors including\u00a0Eurovia,\u00a0Holcim\u00a0and Tarmac.\u00a0<\/p>\n
HDS is the first business to secure investment through the Greater Glasgow Innovation Cluster via the Investment Fund for Scotland. <\/p>\n
The Cluster forms part of a wider \u00a3100 million strengthening of the Nations and Regions Investment Funds and brings together investors,\u00a0innovators\u00a0and high-growth businesses across key UK regions.\u00a0<\/p>\n
Joe Charlesworth,\u00a0managing director\u00a0at HDS,\u00a0said:\u00a0\u201cData is only as good as its\u00a0accuracy,\u00a0and\u00a0as a\u00a0technology partner for major infrastructure projects\u00a0we strive for engineering-grade precision.\u00a0<\/p>\n
\u201cThis\u00a0backing will allow us to\u00a0invest in our product development\u00a0as we enhance our automated digital solutions\u00a0for both the UK and international markets.\u201d\u00a0<\/p>\n
Rob Stevenson, investment manager at Maven, said:\u00a0\u201cHDS has\u00a0evidenced\u00a0strong growth\u00a0to date,\u00a0developing\u00a0a highly rated suite of products for customers across both roadside and plant, in both the UK and US.\u201d<\/p>\n
Sarah Newbould, senior investment manager for the BBB\u2019s nations & regions investment funds, said HDS combines \u201cinnovation with clear international growth potential\u201d.\u00a0<\/p>\n
She added: \u201cAs the first investment delivered through the Greater Glasgow Innovation Cluster, this funding demonstrates the fund\u2019s role in strengthening connections between investors and innovative businesses in the region.\u201d\u00a0\u00a0<\/p>\n
\t #Road #quality #firm #HDS #secures #funding #expand #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"
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