27 Apr FURTHER.SPACE secures £1.25 million investment from Foresight.
Congratulations to our portfolio company,FURTHER.SPACE, for securing a £1.25m investment from Foresight Group.
This investment will help the company’s senior management team to scale the business through additional hires in the business development team and to increase the pace of pod manufacture.
From Insider Media Limited:
“Infrastructure and private equity investment manager Foresight Group has made a £1.25m growth capital investment in a Carryduff-based luxury glamping pod holiday company.
FURTHER.SPACE providers outdoor short breaks in Ireland and Scotland and is well-placed for growth following the Covid-19 pandemic and its impact on international travel.
The business was founded in 2019 and enables local landowners to start micro-tourism businesses, with each glamping pod estimated to add £40,000 in annual tourism spend to the local area.
To date, FURTHER.SPACE has deployed 50 pods across ten sites and is planning to boost this number following the appointment of two Scottish-based business development managers. It is aiming to install more than 100 pods across Scotland in five years.
Foresight’s investment will support the senior management team in scaling the business through additional hires in the business development team and increasing manufacturing of pods.
Peter Farquharson, chief executive of FURTHER.SPACE, said: “I am delighted to have partnered with Foresight to scale up our business, especially in the Scottish market.
“This is a very exciting time for us as we move forward at pace, in a flourishing glamping market. I look forward to working with Foresight to continue to successfully grow the business in the future.”
Foresight was advised by Consilium, TLT, RP Advisory, Confidas, KryptoKloud and Marsh Commercial.
Graeme Mckinstry, investment manager at Foresight, added: “The team has built a market leading brand that provides its customer base with a highly differentiated and luxurious staycation experience, set in some stunning scenic destinations in the UK.
“We have been impressed with the pace of growth to date and are delighted to partner with the company for its next phase of expansion.”
Tughans advised FURTHER.SPACE.”