Hartlepool firm has designs on going global
A 3D animation company is set to go global with a string of new high-tech products - all from its Hartlepool base.
WB3D Productions, which is based in the Hartlepool Enterprise Centre in Brougham Terrace, has successfully raised venture capital funding.
And with the new investment in place, WB3D plans to launch a number of new software applications to UK and overseas markets.
The applications will be geared for use in the construction, retail and medical sectors.
Investors were convinced that the products have global potential and wanted to support WB3D in getting them to the market quickly.
During several months of detailed preparation and many presentations, investment offers came from high profile companies in London but WB3D decided to go with Newcastle investment firm (NorthStar Ventures).
Sign up to our daily newsletter
The i newsletter cut through the noise
Tim Dear, Director of WB3D Productions said: “Investment brings funds but just as importantly it brings vital experience into the company.
“We selected a local investment firm as we felt this would lead to a closer working relationship. In the end I think this will bring great benefit to WB3D.”
Tim had praise for North East company CoreTec Ventures which helps technology companies to raise funding in order to achieve their potential more quickly.
CoreTec’s chief executive Simon Robeson said his company was “delighted to have helped Tim” in his efforts to get the funding he needs to take his company’s world leading products to market.