Trench Networks, a Blyth, UK-based developer of a device which aggregates mobile phone signals from all major networks and combines them to achieve superfast broadband speeds, secured £300k in funding.
The North East Venture Fund, supported by the European Regional Development Fund and managed by Mercia Fund Managers, made the investment.
Set up in 2016 by Kevin Latimer, Trench Networks provides Outpost, which gives instant access to internet and mobile communications without the need to dig cables or use dongles. Trench Networks rents devices to construction firms including Esh Group, Metnor Construction and Ascent Homes, as well as holiday parks, businesses which are relocating, and offsite broadcasting for a BBC programme.
The company intends to use the funds to purchase parts to create more devices and to build its senior management team. As part of the deal, serial entrepreneur and company director Keverne Watt, the former Managing Director of North Shields packaging firm Jaycare, has been appointed as the company’s Chairman.