News - 28 November 2018

‘Smart fabric’ firm receives £249,000 from D2N2 backed Midlands fund

A manufacturer of hi-tech, ‘smart fabrics’ for sports and medical use has received a £249,000 investment from the Midlands Engine Investment Fund – a fund supported via the D2N2 Local Enterprise Partnership and its fellow Midlands’ LEPs.

Footfalls & Heartbeats Ltd of Nottingham, in the D2N2 LEP area, develops and manufactures ‘smart fabric’; textiles containing microscopic structures which act as sensors to monitor the bodily functions of the wearer. This smart fabric technology can be used for medical purposes, for example in bandages; or within sports clothing and footwear, to track and digitally transmit data on an athlete’s performance.

Footfalls & Heartbeats was founded in 2012 by Simon McMaster, who has worked with the University of Nottingham over a number of years and which is a major shareholder in the company.

The £249,000 investment from the Midlands Engine Investment Fund (MEIF) will be invested in Footfalls & Heartbeats’ product prototypes development, for healthcare and sports usage, and in buying in new production equipment (like its knitting lab machine, pictured above). Invest management company Foresight Group arranged the company’s investment.

The MEIF is an initiative by British Business Bank, the UK Government and ten Midlands Local Enterprise Partnerships (LEPs), including the D2N2 LEP. MEIF’s £250million loan and equity fund is funded by those partners and the European Investment Bank . LEPs’ portion of the funding – which will be worth up to £78.5m – comes from European Union funding previously allocated to them; and includes up to £11.75m from the D2N2 LEP.

MEIF-Logo

Simon McMaster, Footfalls & Heartbeats Founding Director, said: “These are exciting times and we are delighted to have Foresight’s backing. With their investment we can move forward with our plans to bring more prototyping in-house with the purchase of a bespoke, one-of-a-kind, knitting machine and the employment of additional staff to join the existing, multidisciplinary team. 

“This investment will allow Footfalls to deliver the various development agreements in shorter time frames. It will also help us to achieve our patent and commercial licensing goals.”

Grant Peggie, Director at the British Business Bank, added: “The Midlands Engine Investment Fund was set up to support companies such as Footfalls & Heartbeats to bring innovative new products to market.”

For further information on Footfalls & Heartbeats products see its website at www.footfallsandheartbeats.com/ and on the Midlands Engine Investment Fund see website at www.meif.co.uk/

Media wanting further information about the D2N2 LEP can contact D2N2 Communications Manager Sean Kirby on 0115 957 8749 or email: sean.kirby@d2n2lep.org  

Latest News & Events

22 September 2023

D2N2 leads highly successful launch of East Midlands Hydrogen

Read Article

21 September 2023

D2N2 CEO Will Morlidge shares his thoughts on East Midlands Hydrogen

Read Article

19 September 2023

Spotlight on our D2N2 Enterprise Advisers: meet Anna Smith, Enterprise Adviser, Da Vinci Academy, Derby

Read Article

14 September 2023

Spotlight on our D2N2 Enterprise Advisers: meet Amanda Stevenson-Bate, Enterprise Adviser, Derby Moor Spencer Academy, Derby

Read Article

07 September 2023

D2N2 Cornerstone Employers discuss the Social Value Act and the importance of supporting local schools in new film

Read Article

06 September 2023

Former ‘Megawatt Valley’ to metamorphose into hydrogen heartland with the launch of East Midlands Hydrogen – the UK’s largest inland hydrogen cluster

Read Article

05 September 2023

Derby Museums publishes report revealing the impressive social impact of the Museum of Making capital project

Read Article

31 August 2023

D2N2 is seeking delivery partners for Wave 5 of Skills Bootcamps in Digital and Green Skills

Read Article

22 August 2023

D2N2 Skills Bootcamps provider Althaus Digital rated Outstanding by Ofsted

Read Article

11 August 2023

D2N2 search for service provider to establish an Early Stage Angel Investment Fund

Read Article

Get in touch.

Subscribe to get our latest updates.

Sign up
Address

D2N2 Local Enterprise Partnership
8 Experian Way
Nottingham
Nottinghamshire
NG2 1EP

Social

Our Partners