A Gloucestershire consultancy business has received a £15k Start Up Loan boost through SWIG Finance to invest in a new workshop and equipment.
Carbon Magics offer its customers best-in-class technology research and product development crossing over multiple disciplines, such as AgriTech, Clean Tech and Assistive Technologies.
Led by Priya Vijayakumar, Carbon Magics is a family business with a mission to become a world leading research, product development and technology and business consultancy.
Since starting, the business has established relationships with leading composite manufacturers and raw material producers, to develop new ways of reusing carbon fibre waste.
The loan has been used to create a new workshop and invest in high-tech machinery, such as a 3D printer, a drone and a state-of-the-art computer.
Carbon Magics currently employs four members of staff, including a contracted engineer.
Priya commented “This crucial support from SWIG Finance enabled us to secure a new premises, which offers several advantages, including more accessible space for drone training, drone practice, and soldering activities. Additionally, the workshop provides room for 3D printing machines. Looking ahead, the space will also be utilized for machinery-related activities, further enhancing the company’s capabilities”.
Suzy Lowe from SWIG Finance said “Priya has done a great job growing her company organically, having developed a portfolio of products and services that all have further growth potential. The Start Up Loan Scheme is there to support businesses like Carbon Magics, providing them with a cash injection so they can continue developing the business at a much quicker rate”.