Tech firm accelerates growth with £360,000 investment
Malvern-based D-RisQ has secured £360,000 to enable it to work with a wider range of businesses and develop its range of automated software tools.
Founded in 2012, D-RisQ specialises in the development of automated software tools that improves system safety across a host of industries, including aerospace, automotive and security.
The business also plans to increase its sales and marketing function, including developing a new website.
The investment from the Midlands Engine Investment Fund (MEIF) Equity Finance Fund, managed by Birmingham venture capital firm Midven will also enable the company to take on a number of new recruits over the next 18 months.
Nick Tudor, chief executive at D-RisQ, says: “This investment marks a significant step forward for D-RisQ, enabling us to form a valuable partnership with Midven and the MEIF. The additional finance will accelerate the Company’s growth and provide access to additional business expertise, enabling the transition from a research and development company to a major supplier of automated software development tools.
“The technology we utilise is a ground-breaking mathematical approach and the resulting products will be the culmination of hundreds of years of development effort which are set to have a significant world-wide impact on the safety and behavioural assurance of software systems.”
Giovanni Finocchio, Midven’s investment director, said: “This is an exciting investment for MEIF, led by a team of experienced and talented individuals. D-RisQ has produced a suite of tools that enable software developers to design and produce software that performs predicted behaviour.
“The tools will give businesses the opportunity to save millions on costs from wasted resources and the testing of software that doesn’t perform as initially intended. Take for example autonomous vehicles, any flaws in software design and code can have disastrous consequences, so having tools that perform checks and balances is a must. I’m looking forward to working with D-RisQ, it has great potential.”
