Newcastle security tech firm set for expansion with £500k investment

A North East company has secured six-figure funding from the North East Venture Fund (NEVF) to develop its lock-and-key-free security system.

Newcastle-based business ATM Security has secured £500k investment to expand its management team and bring its newest product to market.

The firm’s latest development CentraLock enables utilities companies to control access to all their sites from one central point while allowing entry to approved maintenance workers, who can ‘unlock’ the gate using their mobile phone.

ATM Security’s founder Rob Todd hopes that the development of the CentraLock will eventually create and safeguard hundreds of jobs, many of which would be in the North East.

Rob commented: “There are over 400,000 substations in the UK and most are still accessed via old-fashioned keys which are easily lost, stolen or not returned. CentraLock offers a step change in security for the utilities industry.

“Not only does it help prevent unauthorized access, but it also helps safeguard maintenance staff who often work alone on sites in remote locations. We believe there could be a huge potential market worldwide.”

James Allsopp, investment manager with Mercia, said: “Rob has a strong track record of innovation and with CentraLock, he has created a unique proposition within the security market.

“We are always keen to support entrepreneurs who are using technology to disrupt established markets and look forward to working with him to bring the product to market.”

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