Integral Mobile Data Ltd (IMD) is a mobile data management company, IMD’s first product is mForms. mForms Their first product is mForms. is capable of integrating and transferring text, multi-media data (such as imagery), RFID, biometrics, bar code, GPS and web-based information, in realtime or in batch using modems. Platform and bearer independent, it integrates with a range of new or legacy back office systems, enabling automatic, two-way up-date of databases.
The IMD team had developed the technology while working for NVP. NCP did not view the technology as core and the team decided to buy out the technology and spin it out as a separate company. Initially they had funded the business as using their own resources and DTi grants.
Catalyst’s Role
Our first challenge was to develop a business plan and funding strategy with team that maximised our chances of raising the funding required. We then began a marketing campaign that involved talking to a wide range of private investors and angel groups. From this activity were able to introduce an individual investor who wanted to play an active role in the business. This strengthening of the management team was crucial in deciding to seek external funding. In October we decided to approach selected institutions to raise the funding required to growth the business.
Result
We raised £500,000 from Finance wales. The company moved to Wales and in early 2007 was acquired by OLM Group, the UK’s largest independent supplier of information solutions for children’s and adult services, who were quick to recognise the strength of IMD’s products and services and its excellent competitive position.
