A business angel network set up by Dow Schofield Watts to introduce promising northern technology businesses to potential investors has chosen Warrington-based software company Avanite for its first funding round.
Members of Dow Schofield Watts Angels are being offered an Enterprise Investment Scheme-qualifying stake in Avanite, which was founded in 2015 by IT consultants Peter Jones and Francesco Giarletta. WebData Control, its first product, was launched in 2017 and has already achieved six-figure sales with customers including Gwynedd Council and a large Swedish industrial group.
The funding boost will enable it to hire additional staff to speed up development and assist with sales and marketing.
Dow Schofield Watts Angels now has more than 50 investors, who are being invited to participate in the funding round. The network has received applications from more than 150 tech businesses, with Avanite the first selected.