Flasma Steps into International Markets with £350k Investment
21st October 2008
A business which has developed a unique floor-based screen system which can be used for advertising, information and entertainment has received a £350k investment from Alliance Fund Managers (AFM) through the Merseyside Special Investment Fund Liverpool Seed Fund.
Flasma Limited, which has recently relocated from London to Southport, has installed a number of screens in pavements and shopping mall floors in London, Sheffield and Italy.
The company has just announced that European Union patents for its technology have now been granted in addition to the ones it already holds in the U.S. Flasma has spent many years fine-tuning its technology and uses a number of sophisticated components to allow for drainage and prevent scruffing, glare and slipping.
AFM’s £350k investment will support the commercialisation of the product and help it tap into a number of potential global opportunities.
Flasma was set up in 1998 by managing director Richard Lee who now works with a team of two staff and two non executive directors.
Richard Lee said: “The Flasma system has several advantages over conventional posters. Because the system is floor based it capitalises on natural instinct to look at the floor when walking and the images are usually very eye-catching and dynamic. The screens can also be used for a variety of purposes and updated frequently and remotely.
“There are already several Flasma installations throughout the UK including four in London which are displaying a novel exhibition of work by the artist Indris Khan.
“This funding will enable us to invest in marketing and publicity to promote the product, particularly to international markets. We are taking part in an exhibition in Dubai next month in conjunction with a trip which has been arranged by the Liverpool Chamber of Commerce & Industry and we are hopeful that it will kickstart sales in the Middle East.
“AFM has been very supportive. They genuinely want the businesses they invest in to work and provide some excellent support services to help make this happen.”
AFM investment director Darren Gowling said: “The digital signage sector has seen remarkable growth in recent years. Flasma provides an interesting, new, cost-effective medium which can be used for a variety of purposes. The team has worked hard to hone the technology and we believe it has excellent market potential.”
Turnover is predicted to reach in excess of £1m in 2009.
Legal advisors involved in the transaction were Andrew O’Mahony of Brabners Chaffe Street who acted for Alliance Fund Managers and Anton Stirrett of DWF who acted for the company.
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For further information contact Angela White @ Alliance Fund Managers on 0151 242 6376.
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Photo shows L-R Darren Gowling (AFM) Nathan Heathcliffe-Core and Richard Lee (Flasma)
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