Computer vision firm targets global expansion with £20m of NorthEdge backing
Cubic Motion, the award-winning creator of advanced computer vision for digital entertainment, has received a £20m investment from NorthEdge Capital to support its global expansion ambitions.
Headquartered at Manchester Science Park, Cubic Motion is led be chief executive Dr Gareth Edwards.
It employs a team of more than 70 internationally acclaimed vision researchers, engineers, animators and producers.
The company has created advanced digital content for a range of prominent video game publishers including Activision, Epic, EA, Ninja Theory and Sony. Titles such as Call of Duty, Hellblade and Squadron 42 (Star Citizen) are just a few examples of the company’s extensive portfolio of titles.
NorthEdge Capital manages £540m of private equity funds and typically invests between £5m-£45m.
Cubic Motion will use NorthEdge’s investment and support to further deploy and productise its core animation business, drive forward its extensive intellectual property portfolio and expand internationally.
The deal was led by NorthEdge’s Jon Pickering and George Potts, head of Manchester and investment manager, respectively, with support from Greg Holmes, investment executive. George Potts and Andy Ball will represent NorthEdge on the board.
Potts said: “Cubic Motion is at the cutting edge of a sector undergoing substantial growth. We believe the breadth and depth of experience, expertise and quality throughout the company sets Cubic Motion apart from its competition; with its recent work on Hellblade being a great example.
“Our collaboration will enable the company to double headcount within two years and deepen relationships with key clients across the globe. It is an exciting time to bring our support and network to the benefit of Cubic Motion and we look forward to working closely to ensure the company’s work reaches an ever larger audience.”
Edwards said: “Cubic Motion is delighted to work with NorthEdge – the ideal equity partner for the rapid growth ahead.
“By organically growing the business to its present scale, we have proven the power of our computer vision technology to transform content production.
“We are particularly proud to be the trusted supplier to many of the world’s largest publishers and developers. Aided by NorthEdge’s investment and experience, we will deploy an expanding range of licensed software solutions, bringing real-time vision and animation capabilities direct to our clients and partners, revolutionising the way content is made.”
David Mkhitarian and James Down at Hill Dickinson provided legal advice on the deal.
Financial due diligence for NorthEdge was carried out by Sarah Cumming and Chris Heatlie at BDO.
