Jam Technology has not looked back since pitching their business plan to a group of potential investors at Business Durham’s Investment Panel in February 2016.
Their plan was to take their innovative product that linked in-helmet near-to-eye display and bike mounted intelligent rear view camera wirelessly. Their prototype was ready to market and the company needed investment to get into production and launch.
The Barnard Castle based business was still at its early fundraising stage when they took part at the six-monthly panel organised by Business Durham’s innovation team. The panel offers a great opportunity for start-ups or businesses which are new to private equity fundraising to test and refine their pitching skills and business proposition.
The pitch from their Managing Director, John Hale, made such an impression that they have since raised a £540,000 from one of the investors to take their product to market. Just over a year later, they have taken around 1500 pre-orders from 10 different countries across the globe and sales are continuing to rise.
The success of the business has meant that they are planning to at least double their staffing levels in the not too distant future, and they are already looking to expand in to larger premises.
For more information about the business, visit www.zona-store.com.