Burnley childcare firm secures venture capital

Connect Technology Group, supplier of security systems to the childcare sector, is the latest occupier to win investment from ERDF's North West Fund for Digital & Creative, managed by AXM Venture Capital.

The fund made an undisclosed equity investment into the Burnley-based business which currently employs 13 staff.

Chris Reid, founder and managing director of Connect, said: "We are passionate about delivering great systems that allow childcare staff to spend more time nurturing the children in their care. I am delighted that AXM share in this passion and are now part of the Connect team to bring forward our plans."

The money will be used to underpin Connect's growth and support the management team to develop new systems for the UK childcare sector.

David Smith, investment director at AXM Venture Capital, added: "We are delighted to support Connect's expansion, and have strong expectations that the company will in the short term become the leading vendor in its market."

The North West Fund for Digital & Creative is part of the £170m North West Fund financed by the European Regional Development Fund and the European Investment Bank.

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