Author: Tim Rose

Efforts to get the owners of British sports automobile brand TVR to base a brand new factory in Wales could have wasted hundreds of thousands of kilos. In 2021 the Welsh Government spent £4.75 million buying a brownfield site, home to an abandoned Techboard factory, plus one other £7.6m on refurbishment able to welcome TVR Automotive’s automobile production facility, and it also gave TVR a £2m loan and invested £500,000 in a stake within the business. The aim was for the automobile factory to create 150 jobs locally and produce as much as 2,000 sports cars. But TVR Automotive has…

Investors including Peter Vardy have pumped 10 million euros (£8.4m) into AI video tech firm Phyron in its latest fundraising round. Austria-based Round2 Capital, which made an initial revenue-based financing investment in Phyron in June 2023, has expanded its relationship by becoming a Phyron shareholder. And Phyron has also secured the financial backing of other investors, including AM100 motor retailer Peter Vardy, an investment which Phyron says demonstrates its strategic give attention to the UK automobile market. The Series B funding will enable Phyron, which has grown its revenue rapidly and recently opened a UK head office, to speed up development of its AI and…