A Buckingham-based video and online events production company is expanding its services thanks to a £205k investment.
Giggabox received the funding from First Enterprise – Enterprise Loans through the Community Investment Enterprise Facility (CIEF) and Midlands Engine Investment Fund (MEIF) backed by the Coronavirus Business Interruption Loan Scheme (CBILS).
The company, whose client portfolio includes the Ascot and Goodwood festivals, is diversifying and expanding to provide more virtual and hybrid events after seeing opportunities in the online event industry.
READ MORE: 'Food was delicious, service was excellent' - Top five Thai restaurants in Bucks
The funding will be used to purchase additional remote digital production equipment and hire seven new employees to meet the demand for live online conferences, product launches and events.
The Giggabox crew in action
Paul Musselle, founder and director of Giggabox Ltd, said: “When the pandemic hit, we moved quickly and used our broadcast and live streaming experience to deliver remotely-produced events that have been exceptionally well-received.
“Delivering live content requires a host of technical and production skills, and it made complete sense to make use of our Giggabox skill set and scale up for the increased demand we have experienced for virtual and, more recently, hybrid events.
READ MORE: Gym slammed for charging members full fees for April following recent takeover
“The funding from First Enterprise – Enterprise Loans has been paramount in making this happen.
"Without it, I wouldn’t have been able to purchase the additional equipment and employ the new members of staff needed to fulfil contracts.”
First Enterprise – Enterprise Loans provide government-backed finance to businesses across the East Midlands and South East Midlands with lending ranging from £500 to £250,000.
The Coronavirus Business Interruption Loan Scheme (CBILS) was managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy (BEIS).
A virtual control room being worked by those who are at Giggabox
The scheme ended on March 31 and has been replaced by the Recovery Loan Scheme.
Stefan Nycz, business adviser at First Enterprise – Enterprise Loans, commented:
“Paul has a wealth of knowledge and expertise in broadcasting, and it’s been a delight helping him expand Giggabox.
“I’m looking forward to seeing the company power the British Chambers of Commerce’s flagship Global Annual Conference in June and many other sporting and corporate events throughout the year.”
For more information, visit www.giggabox.co.uk.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here