Airbox Systems, which supplies the leading situational awareness tool designed to streamline operational responses for emergency services, has secured a £1.5m loan from BOOST&Co to support its goal of doubling in size during the next 12 months. The firm, based in Wantage, Oxfordshire, has revolutionised how emergency services respond by helping teams to visualise their environments and share data in live situations.
Its software, which is used globally as well as in the UK, is deployed during high-pressure events – for example, to guide rescue helicopters to the correct location or to create maps of evolving riots that can direct officers to where they need to be. Airbox mapping, used by the Cabinet Office to enable 80,000 first responders through its free-to-use system ResilienceDirect, helps trained responders to evaluate complex situations.
BOOST&Co has provided the business with a £1.5m term loan under the Coronavirus Business Interruption Loan Scheme (CBILS). Having made a significant contribution to improving emergency responses during the Covid-19 pandemic, Airbox Systems will now prioritise the continued growth of its team and the expansion of its operations.
Chief executive William Moore says: “Airbox is all about helping the emergency services to protect life. This funding will enable us to more than double the 50,000 operations conducted with Airbox every year, which is a fantastic outcome for us as a business and for the general public too. The support from BOOST&Co means that we can make our growth ambitions a reality, and we are looking forward to building on this new partnership as we continue to expand.”
Faye McDonough, the Cambridge-based principal at BOOST&Co who led the deal, says: “The Airbox team is passionate about facilitating collaboration across the emergency response sector and this came across in all of our interactions. They dominate a number of their existing markets with their game-changing products, but they want to do more.
“This investment will enable the business to scale, providing the growth capital it needs to expand its team and take advantage of its current momentum and new business opportunities. Airbox is a fantastic addition to BOOST&Co’s portfolio.”
Graham Brett, consultant at Empire Finance, who introduced the deal, says: “As soon as I started to work on this transaction, it became clear that BOOST&Co’s debt product was a natural fit, supporting Airbox’s short-term funding needs and providing the headroom required for its exciting growth plans. BOOST&Co delivered in line with its indicative terms and agreed timescales, as I expected from my prior experience of working with the team.”