READING ADVANCED CHATBOT TECH COMPANY SECURES GROWTH FUNDING

An artificial intelligence (AI) company has secured £150,000 from the Thames Valley Berkshire (TVB) Expansion Loan Scheme to take its new product to the next level.

Artelli42 specialises in human behavioural emulation, an advanced form of chatbot that enables people to talk to a computer in everyday language and be understood.

The company’s new AI product, EXALT, is intended to support professional learning and development through role play simulations, allowing knowledge to be better applied in the workplace.

Oxford engineering company secures £10 million investment

Polar Technology has secured a £10 million investment from BGF – the UK’s most active growth capital investor Whitley Stimpson advised on the deal.

The Oxfordshire business makes high-performance carbon and metal components for the automotive, medical, aerospace and defence sectors. The investment will support a move into its new 100,000 sq ft facility at Horizon Technology Park in Eynsham. This will double the size of its production capacity and create more than 110 new jobs.

The new facility is expected to be up and running during 2021.

Polar Technology Management Group was established in 2012 by Scott Roberts and Mike Dewhirst. Currently employing more than 200 people, the business designs, develops and manufactures products and technology based around advanced composite materials, emerging metal processes and metallic fabrications. The company works with a number of Formula 1 manufacturers and produces parts for high performance hypercars.

Forest of Dean food flavouring company bought by Italians

A company that develops seasonings and flavours has been bought by a leading European sustainabilityfocused investor.

Taste Connection, based near Woottonunder-Edge in Gloucestershire, has been acquired by Ambienta SGR SpA for its company Nactarome, a leading European Group of companies specialising in developing and manufacturing natural flavours, colours and functional ingredients, With the support of Ambienta, Nactarome has grown its revenues to in excess of €120 million and spread its manufacturing across Italy, the UK, France and Belgium. The acqusition strengthens marks Nactorome’s entry into the British and European snacks market.

Founded in 2002, Taste Connection has a client base of more than 70 of the largest UK snacks producers and food brands, as well as many niche UK brands. The purchase price was not disclosed.

It is a new class of conversational technology, testsing competence and confidence through app-based virtual replays while providing insight into the development needs of teams.

TVB Expansion Loan Scheme is part of TVB Funding Escalator, an £11.3 million initiative funded by Thames Valley Berkshire Local Enterprise Partnership.

The escalator provides eligible companies with loans and equity funding from between £50,000 and £300,000 to help deliver highgrowth and employment opportunities.

Bristol engineering company buys Cheltenham and Corby businesses

Specialist manufacturing and engineering business Avon Group has made a second key acquisition in the last six months.

Cheltenham-based Edgewest Plastics (UK) Ltd joined the privately-owned Group late last year and this has now been followed by the acquisition of Scandura Ltd.

Edgewest Plastics supplies plastic-moulded components to some of the UK’s largest manufacturers of plumbing and bathroom products.

Scandura, based in Corby, Northamptonshire, is the longestestablished gasket manufacturer in the UK. Formerly part of the OSL Group, it specialises in supplying specialist gaskets and industrial rubber products to a wide range of industry sectors including automotive, white goods manufacturing, petrochemicals and aerospace.

Mark Rushin, Director at Avon Group, said: “We will be retaining the employees, equipment and premises of both businesses and they will continue to operate autonomously as part of the Group. Their addition to the Group will make a significant contribution to our growth ambitions and also secure their futures as part of a highly successful group business.”