Panoramix secures £250,000 to expand reach

An East Midlands-based intellectual property (IP) law firm is set to accelerate its growth with a follow-on funding package aimed at expanding operations and boosting its client base.

Panoramix, founded in 2019 by IP law specialist Kevin Hanson, has received a £250,000 follow on debt funding package through the Midlands Engine Investment Fund II (MEIF II) via Maven Capital Partners. This follows an initial £250,000 investment in 2022, which helped the firm establish its Lincoln base, grow its team and expand its national client portfolio.

Bosses say the funding will enable Panoramix to implement a “targeted marketing strategy” focused on US market expansion, with a recruitment drive to hire a client relationship manager and a patent attorney, as it looks to “revolutionise” the IP legal services industry and “expand to new markets”.

Kevin said: “The support from Maven and the Midlands Engine Investment Fund I in 2022 was critical in enabling us to establish our business in the East Midlands and grow our client base nationally. 

“With further funding through Midlands Engine Investment Fund II, we intend to double our headcount and turnover within the next 24 months. This will involve development of new service offerings and expansion into new international markets. 

The future is looking very bright as we continue to revolutionise the IP legal services industry.”

Richard Altoft, investment director at Maven, added: “Panoramix has shown impressive growth through its innovative service model, establishing itself as a trusted provider of intellectual property services, and is now well-positioned to capitalise on sector opportunities. 

“Our initial support through Midlands Engine Investment Fund I enabled the firm to expand its capabilities and build strong foundations for future growth. 

“We are pleased to provide additional support with debt finance from Midlands Engine Investment Fund II to enable the business to continue to grow its team and expand to new markets.”

Offering a flexible, attorney-led service with fixed fees, Panoramix supports businesses ranging from start-ups to multinationals across sectors such as technology, healthcare, retail and manufacturing. 

The firm is also one of the few UK-based IP firms authorised to provide US trademark services directly, offering cost-effective solutions for UK clients entering the US market.

David Tindall, senior manager at British Business Bank, which administers the MEIF II, added: “This new round of funding from the Midlands Engine Investment Fund II follows investment from the first Midlands Engine Investment Fund, and we are pleased to see Panoramix continuing to thrive. 

“This funding will support the company in creating new roles and exploring expansion opportunities overseas."

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