Think360 secures £100,000 funding from Mercia Debt Finance.
Deal News | Jan 31, 2025 | Mercia Fund Management (Mercia Ventures)
Think360, a Hull-based software company, has raised £100,000 from NPIF II Mercia Debt Finance to manage its rising workload. The support follows the firm securing contracts worth over £1 million and anticipating an additional £4 million pipeline business. Established in 2018 by Martin Lauer, who also founded The One Point, the company specializes in AI-powered software solutions for sectors such as logistics, manufacturing, and care management. The funding will facilitate the creation of three jobs, allowing Think360 to enhance its capacity and expand its team. Mercia Debt Finance, part of Northern Powerhouse Investment Fund II managed by Mercia Ventures, supports Northern England SMEs to promote sustainable economic growth. The investment aims to bolster Think360's growth and position as a leader in AI-driven transformation within key industries.
Sectors
- Software & Technology
- Finance & Investment
- Logistics & Manufacturing
- Healthcare
Geography
- United Kingdom – Think360 is based in Hull, UK, and the Northern Powerhouse Investment Fund focuses on the North of England.
- Northern England – The NPIF II specifically focuses on supporting growth in Northern England, where Think360 operates and benefits from this focus.
Industry
- Software & Technology – Think360 is a software company specializing in AI-powered solutions, making this sector a primary focus.
- Finance & Investment – Involvement of Mercia Debt Finance indicates activity within the investment sector, particularly in supporting SMEs.
- Logistics & Manufacturing – Think360's products target the logistics and manufacturing sectors, demonstrating relevance to this industry.
- Healthcare – Think360's AI Homecare product targets the healthcare sector, particularly in domiciliary care management.
Financials
- £100,000 – The amount raised by Think360 from Mercia Debt Finance to support growth.
- £1,000,000 – Value of new contracts secured by Think360 recently.
- £4,000,000 – Potential value of new business in pipeline for Think360.
- £660,000,000 – Size of the Northern Powerhouse Investment Fund II (NPIF II).
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Think360 | Target company | Company | A Hull-based software firm specializing in AI solutions founded by Martin Lauer. |
| Mercia Fund Management (Mercia Ventures) | PE Firm/Funder | Company | Manages Mercia Debt Finance and is a provider of funding for Think360 as part of NPIF II. |
| Northern Powerhouse Investment Fund II (NPIF II) | Funding Source | Company | A fund aimed at supporting businesses across Northern England. |
| Martin Lauer | CEO of Think360 | Person | Founder and CEO of Think360, also involved with The One Point. |
| Rebecca Pickering | Spokesperson/Representative for Mercia Debt | Person | Representative providing commentary on Think360's growth and funding support. |
| Lizzy Upton | Senior Manager at British Business Bank | Person | Comments on the growth and impact of AI and Think360's role in it. |