Velobici, a renowned manufacturer of cycling apparel, has recently secured a substantial investment of £500,000 from the Midlands Engine Investment Fund (MEIF) to support its expansion plans. The infusion of funds will allow Velobici to grow its workforce and relocate to larger premises, enabling the company to meet the increasing demand for its products.

Over the next three years, Velobici intends to create seven full-time positions, with six focused on manufacturing and one in finance, as reported by the East Midlands News. By expanding its team, Velobici aims to enhance its production capacity and expand its distribution network on an international scale. In addition, the company is in the process of developing a new line of cycling apparel that is set to launch in the spring of 2022.

MEIF’s funding will not only aid in the expansion of Velobici’s team and facilities, but it will also allow the company to bolster its stock levels, ensuring that it can meet the rising demand both domestically and in export markets. Velobici has built a reputation for manufacturing and distributing top-quality cycling apparel and accessories, all of which are made using sustainably sourced fabrics. The company’s commitment to achieving carbon neutrality by 2025 has contributed to the strong reputation of its ‘Made In England’ brand, which is highly sought after by customers in the UK and abroad.

Ann Marie McFadyen, an investment manager at The FSE Group, which oversees the MEIF Debt Finance Fund, expressed confidence in Velobici’s future. She commended the expertise of the company’s leadership team and their dedication to sustainability, highlighting the high regard the Velobici brand holds within the industry. As the cycling sector continues to expand, McFadyen emphasized the importance of Velobici’s move to larger premises to keep up with the surging number of orders.

The investment from MEIF marks a significant milestone for Velobici, positioning the company for further growth and success. Led by Chris Putt, the Velobici team is excited about the next phase of their journey and eagerly anticipates the opportunities that lie ahead. With the support of the Midlands Engine Investment Fund, Velobici is well-positioned to capitalize on the expanding market for cycling apparel and accessories.

For further information on Velobici and their range of cycling apparel and accessories, please visit their official website: Velobici Official Website

To learn more about the Midlands Engine Investment Fund (MEIF) and its initiatives, visit their website: MEIF Official Website