A company which makes sports simulators is creating 15 jobs on the back of £ 250,000 of fresh finance.
BatFast is using the money to grow its sales and marketing operations, carry out product development and look at new export opportunities.
The business, which moved to a bigger site on the Colwick Quays Business Park, in Nottingham, last year, makes cricket, baseball and tennis simulators for customers around the world.
BatFast technology allows different sports to be brought to life in the same space so that cricket can be quickly switched to baseball, with dynamic graphics and live scoring, personalized to suit different ages and abilities.
Its technology can be switched from social competition to one-to-one training while its mission is to “drive increased participation and access to sport globally, through the use of technology”.
Clients include organizations such as Nottinghamshire County Cricket Club and local universities and it has supplied simulators to multi-entertainment center operators globally as well as major cricket events, including during the 2019 Cricket World Cup and the 2021-22 Ashes series in Australia.
The latest support package has come from the Midlands Engine Investment Fund Debt Finance, managed by Maven Capital Partners, and backed by the Recovery Loan Scheme. It follows 2021 support from Invest in Nottingham.
BatFast was founded in Loughborough, while co-founder Runish Gudhka studied at the University of Nottingham. It recently won ‘best technology in sports participation and fitness’ at the Global Sports Technology Awards in London.
Mr Gudhka, who co-founded the business with Jignesh Pate, said: “BatFast has a clear mission to use technology to drive increased global participation in sports.
“We are grateful for the support from MEIF and Maven Capital Partners and are excited about the opportunities this investment will create.”
Jonathan Lowe, investment director at MEIF Maven, said: “BatFast have developed an incredibly engaging sports simulator which has broad appeal to experienced and new players alike.
“We look forward to supporting the company with its global expansion and help realize its future growth and success.”
Lewis Stringer, senior manager for the UK Network team at the British Business Bank, said: “The MEIF supports SMEs across the Midlands with their growth, and this funding for BatFast is the perfect example of how this investment can support new job creation in the region and help companies to expand internationally.
“We encourage other businesses in the area to consider MEIF funding for their growth plans.”
Will Morlidge, interim chief executive at D2N2 LEP, said: “I’m delighted to see the Midlands Engine Investment Fund supporting another dynamic and ambitious business.
“BatFast is a great example of a firm innovating and adapting to accelerate growth and provide job opportunities, supporting our collective ambitions for inclusive economic growth across the region.”