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Wheelright Ltd

WheelRight has been awarded a £200K DTI / SEEDA Development Grant to follow on from the £75K Research Grant that was completed in the spring.ented at a meeting organised by Oxford Investment Opportunity Network (OION) and as a result attracted some funding from a local business angel.

The company presented at Venturefest and recruited 2 new business angel investors from that event. They joined with the existing shareholders (4 directors and 7 business angels) in raising £130K toward the £400K of matching funding that the company must find in order to access the Development Grant.

Investment discussions are progressing as a result of the September OION meeting and the company is also pursuing other investment opportunities.

We exhibited at the Thames Valley Innovation Conference in Reading on 16th October where James Braithwaite (SEEDA Chairman) made a special point of visiting the stand.

Meanwhile commercial opportunities are opening up and user trials are progressing. Other developments are still under wraps.

Website: www.wheelright.co.uk