Member Article

TV company attracts quick investment

A Newcastle-based TV technology company has had an £850,000 boost after receiving venture capital investment. North East venture capital firm, NorthStar Equity Investors (NSEI), led the investment into Quick TV Limited (QTV).

Leading a consortium of investors, NSEI has backed the business with £500,000 from its Co-Investment Fund and helped attract a further £350,000 funding for the company from private individuals and the Business Investors Group.

Founded in November 2006 by entrepreneurs Tod Yeadon and Nick Bell, Quick TV has created an interactive platform allowing broadcasters to integrate response based TV without having to rely on controversial premium rate texts and phone calls.

Michelle Cooper, NSEI Investment Manager, said: “Quick TV has developed a hugely innovative technology that we’re confident will appeal to the UK TV market. Their interactive platform is wholly unique and will give broadcasters far more flexibility to engage with viewers. “This is a real measure of the quality of early stage opportunities coming from technology entrepreneurs with the region.”

Thomas Speir of County Durham-based Business Investors Group, said: “Both Tod and Nick have impeccable credentials and a vast amount of experience and expertise within the media industry. I’m confident the syndicate of private backers alongside ourselves and NorthStar Equity Investors, will together help nurture this ambitious young company to market, as well as provide the necessary financial support.“Â

This was posted in Bdaily's Members' News section by Ruth Mitchell .