Next phase of Derby’s Castleward development gets green light with 112 new homes planned
Blueprint Interiors completes Gleeds office transformation
Freeths’ Mukesh Patel awarded President’s Lifetime Achievement Award
Watersheds seals deal on sale of Formula 1 software specialists
Project D eyes bigger prize as crowdfund smashes expectations
A fast-growing doughnut business is set to raise the ceiling on its crowdfund campaign after attracting five times its prospective investment target in just two weeks of trading.
Derby-based Project D launched a £400,000 crowdfund campaign at the beginning of May in an effort to inject cash to speed up its already rapid expansion. On the first day of launch alone, the pre-registration figure totalled more than £500,000.
And, within two weeks of launching its online campaign on the Crowdcube crowdfunding platform, the firm received expressions of interest amounting to more than £2m, in addition to the £150,000 lead investment already generated prior to the launch.
More than 2,500 potential investors keen to claim their own stake in the booming bakery business have flocked to the crowdfunding site to register an interest.
The company, which was launched from a kitchen table in 2018 by three former school friends, is now keen to encourage more potential future shareholders to pre-register before it decides how much to increase its original £400,000 target by.
The closing date for pre-registration has not yet been announced.
Max Poynton, co-founder and marketing director for Project D, said: “Given the level of interest, we will probably now look to overfund our original investment target.
“It’s unbelievable how many individuals want to be a part of our company. I’m totally blown away by the numbers our crowdfund registration campaign has generated so far.
“It’s also really rewarding to see some real interest from everyday people, including hundreds of our loyal social media followers.”
Max said that around 45 per cent of the £2m total came from professional investors, while 55 per cent came from first-time investors, most of whom showed an interest in investing between £50 and £1,000.
Once the pre-registration stage of the crowdfund campaign has closed, the firm will begin the task of inviting potential investors to formally pledge their desired amounts. This will be handled by and large on a first-come-first-served basis until the firm’s overfund level has been reached.
“We urge any interested parties who haven’t yet visited our crowdfund page to get involved before the door closes,” said Max. “We’d love to invite as many investors as possible to join our ‘inner ring’.”
The multiple award-winning bakery manufactures around two million doughnuts per annum at its purpose-built 11,000 sq ft bakery.
With a current annual turnover of around £2.6m, the team is aiming to use the crowdfund investment to reach a £12m turnover within three years.
Founded by Max and fellow ex-schoolfriends Matt Bond and Jacob Watts, Project D has already attracted partnerships with global heavyweight brands like British Airways, Brewdog, Amazon and Coca-Cola.
Finance raised from the crowdfund campaign will be invested in product innovation, retail expansion, digital marketing and e-commerce and key office hires.
The firm, which has to date created more than 2,500 individual product lines, works closely with food scientists and nutritionists at a state-of-the-art research and development facility in Corby, Northamptonshire.
Its rapid expansion has been aided by the company’s huge digital marketing push and social media following, with its TikTok account alone receiving 19m views, 1.1m likes and 27,000 comments in a single two-month period.
Work starts on latest eight-figure investment for logistics company at Derbyshire hub
Work has started on the latest eight-figure investment for logistics company, Ascott Transport Limited (ATL) at its Midlands Hub in Foston, Derbyshire.
Midlands-based contractor G F Tomlinson, is delivering the project, and held a ground-breaking ceremony earlier this month to celebrate works officially starting, with representatives from ATL and key project funders from HSBC and Empire Finance in attendance.
The 127,000 sq ft warehouse will include 14 new loading bays, offices, welfare rooms and external concrete yards and roads. Due for completion early 2024, the facility will enable ATL to meet increased demand and grow its client base further.
The development is the second warehouse scheme that G F Tomlinson has constructed for ATL, having previously completed a 190,000 sq ft warehouse at the Midlands Hub. The first phase of the development included a three-storey gatehouse, high-spec offices, a new workshop, and outside storage as well as parking facilities and an extensive, high-bay warehouse.
Following the completion, the company almost doubled its Midlands operating capacity.
Having been based in South Derbyshire for more than 20 years, ATL have developed the site significantly into a major logistics and storage hub. The new warehouse will facilitate existing clients and make provision for expansion.
Andy Sewards, chairman and Managing Director of G F Tomlinson, said: “We’re delighted to be working with ATL again, to provide a new state-of-the-art distribution warehouse which will support the company’s extensive growth plans.
“Through our long-standing relationship, we have seen ATL’s success and to be a part of the next stage of its journey is fantastic. We look forward to work progressing over the next few months.”
Pete Ascott, Managing Director of ATL, said: “Given the success of the first phase of our development back in 2018, it was a simple decision to partner with G F Tomlinson to deliver phase two. The second phase adds a further 20,000 pallet storage capacity to our portfolio, available from January 2024.”
Work progresses on Chesterfield’s new centre for talking therapies
New industrial development in the pipeline
Lincolnshire-based Multi-Academy Trust become latest EMCRC Community Ambassador
Voyage Education Partnership is a charitable education Multi-Academy Trust (MAT) based in Lincolnshire who are dedicated to working with their 9 primary and secondary academies.
These academies (Boston Pioneers Academy, Carlton Road Academy, Fishtoft Academy, Gosberton Academy, Haven High Academy, Old Leake Primary Academy, Park Academy, Staniland Academy and Wygate Park Academy) will be onboarded as community members of the EMCRC as a result of Voyage’s decision to join as a Community Ambassador.
The Trust’s core aim is to create centres of excellence within, and for, the communities they serve. Their commitment to cyber security shows those communities that they are also dedicated to safety and security, key elements of any MAT.
They will become the latest Community Ambassador to join the Centre, working towards increasing awareness of cyber security and crime within the education sector.
Schools hold a great amount of sensitive data, which means they are a target for cyber criminals. Therefore, Voyage Education Partnership believe it is imperative that schools bolster their cyber security levels to better protect this data and to lessen the threat of an attack.
The education sector is frequently viewed as an easy target because schools and universities generally have restricted cyber security finances and may lack the necessary assets to sufficiently safeguard themselves against cyber attacks. Criminals may take advantage of system flaws such as antiquated software, insecure passwords, or unsecured networks.
The recent 2023 Cyber Security Breaches Survey showed:
- The percentage of organisations that have identified breaches or attacks in the last 12 months; the lowest was 41% for Primary Schools, rising to 63% for secondary schools and 82% for colleges.
- Half of universities reported experiencing breaches or attacks at least weekly.
- Phishing attacks on schools and colleges remain the most popular method of attack, with 84% of primary schools, 86% of secondary schools and 92% of colleges experiencing phishing attacks in the last 12 months.
Community Ambassadors are local companies who understand the importance of cyber resilience and who want to spread that message as wide as they can.
They do vital work, supporting the EMCRC’s message through raising awareness of its aims and objectives and directing their customers, business communities and supply chains to take advantage to the EMCRC’s free membership and affordable services.
Luke Vere, Digital Services Manager at Voyage Education Partnership, said: “We are pleased to be Community Ambassadors of the Cyber Resilience Centre for the East Midlands. As part of this collaboration we will continue to increase awareness of cyber security and crime in education.
“With schools holding vast amounts of sensitive data on their pupils, and with an increasing number of schools becoming victims of cyber attacks such as ransomware, it is crucial that they begin to treat cyber security with the same level of importance as they do safeguarding. The EMCRC share our concern and offer great resources to schools to better protect and prepare themselves against such threats. “I look forward to working alongside their MD, DI Colin Ellis, and his team as we embark on this journey to help ensure that schools in the East Midlands are better equipped against cyber and online threats.”DI Colin Ellis, MD and Police Lead at the EMCRC, added: “I’m really pleased that Voyage Education Partnership have joined us as one of our Community Ambassadors. The education sector remains a prime target for cyber criminals. Voyage understand that cyber security and cyber resilience is a must for successful operations and to safeguard the data of both learners and staff – which is a prized commodity for cyber criminals.
“Voyage have 9 schools within their umbrella, serving 3,500 children and 510 members of staff. With Voyage signing up to work with us, that’s 9 Lincolnshire schools who can now access our services, helping Voyage to keep them prepared and better protected. “The heads of those schools can now demonstrate to their 3,500 children’s parents that they take the security of their children’s data very seriously. I hope other academies see Voyage’s example and take similar action.”Voyage Education Partnership are a great addition to the EMCRC’s Community Ambassador group, and it shows the EMCRC’s ambition as a Centre that it wishes to partner with outstanding businesses and organisations.
But the EMCRC’s ambition doesn’t end there. It is seeking the support of other distinguished businesses and motivational business leaders by joining, not just as Community Ambassadors, but as Community Members, Friends of the Centre or Board members. EMCRC now have the scope for businesses to join on various levels of affiliation.
If you would like to support the EMCRC’s work and join its community, or feel you can bring equal skill, vision and ingenuity to the Centre in other areas, then please contact the EMCRC via its website or contact Colin Ellis via his LinkedIn account.
Wilko considers CVA as turnaround plans accelerate
