Maven injects £1.1m into Whiterock

The fresh capital will enable the company to invest in the marketing of its Zynq360 3D video product, in addition to scaling up product development in response to excessive demand.

Following the deal, Whiterock will also invest in further expanding its newly established 3D animation, rendering and virtual reality arm.

According to publicly available records, Maven partner Jock Gardiner has also taken a seat on the Whiterock board as part of the deal.

Maven drew capital from its VCT funds, which have now made five investments in 2016. The deal comes shortly after a £1.1m investment in crowdfunding platform Growth Capital Ventures and marks the 11th private equity deal of the year for Maven.

Company
Founded in 2015 and headquartered in Aberdeen, Whiterock comprises cloud-based 3D video business Zynq 360 and Mercury 92, a 3D rendering, graphic design, animation and virtual reality company. Zynq 360 is used by industrial companies and government agencies for inspection and monitoring purposes.

People
Maven Capital Partners – Jock Gardiner (partner); Ewan MacKinnon (investment director).
Whiterock – Brian Dillon (managing director).

Advisers
Equity – Blackwoods (legal); Intuitis (commercial due diligence); Lockton (insurance due diligence).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• Maven Capital Partners
• Venture