Construction industry-focused software company Sitedesk has netted £435,000 from The North West Fund for Digital & Creative, a fund managed by AXM Venture Capital.
The Manchester-based business was spun-out of ACS Construction, a building and civil engineering contractor owned by Sitedesk founders Paul Grady and Danny Doohan.
The business will now look to launch its onsite building information modelling tool, Sitedesk Dabit, in the summer of 2013.
As part of the deal, The North West Fund for Digital & Creative has installed new company chief technology officer Chris Sewart, who previously held the same position at Yuuguu, as well as chairman Craig Slater, who ran the listed construction software company Eleco until 2011.
Sitedesk Dabit uses games rendering techniques to view large business information modelling models, which do not need to be run on high-end computers. It is hoped that the product will ‘bridge a gap’ between architects’ 3D models and the on-site project manager.
More on the North West Fund for Digital & Creative:
- First funding deal for Connect Technology Group
- Adaptis Solutions gets help from regional backer
- Camiloo and Autology take Digital & Creative Fund finance
The newly-formed business is also looking to recruit a sales director and CEO.
The deal is the third for AXM Venture Capital and The North West Fund for Digital & Creative in 2013 following its January £150,000 backing Liverpool-based Med ePad and undisclosed April investment in Fatsoma.
The North West Fund for Digital & Creative makes investments of between £50,000 and£1.5 million into businesses seeking start-up and early stage development funding as well expansion plans for trading businesses.