Big investment in production procurement service
A
Qimtek product story
Edited by the Engineeringtalk editorial team
Jan 19, 2001
First Index has received $10.8 million in new investment from a consortium of leading UK and US venture capital funds, LMS Capital, Bessemer Venture Capital Partners (BVP) and Quester
First Index, a company that enables manufacturers to quickly and easily find suppliers and procure specialised custom-made engineering components via the internet, has received $10.8 million in new investment from a consortium of leading UK and US venture capital funds.
The consortium comprises LMS Capital, Bessemer Venture Capital Partners (BVP) and Quester.
With an internet-based product already showing rapid growth and a profit in the UK and USA, the software company will use the funds in two ways; besides developing a raft of new e-procurement services it plans to substantially expand its existing business in the USA and to swiftly penetrate new continental European markets.
Two additional non-executive directors will join the board of First Index as it enters its new growth phase.
They are Michael Bennett of LMS Capital and Felda Hardyman from Bessemer.
more/- Michael Bennett of LMS Capital said: "First Index has developed an industry-leading sourcing service through a close understanding of customer and supplier requirements for custom-made parts.
We believe First Index has developed a highly successful business model that offers real value to both buyers and suppliers.
This has been reflected in transactions already measured in billions of dollars a year, a performance that exceeds most B2B exchanges." For First Index, the company's founder, Hans Wigart, said: "The automated sourcing service we were first to offer is based on an existing and highly successful product that lends itself perfectly to online operations.
The internet could have been designed for the service and we are already experiencing significant demand since launching the online version, based on popular Microsoft technology.
By expanding our international presence and by keeping abreast of the latest technological developments, we can stay at the forefront of this growing market sector.".
Not what you're looking for? Search the site.
Google Ads
Contact Qimtek
Related Stories
- SEA wins Newsletter of the Year at TAF awards
- Parker opens new store in Gillingham
- National Instruments - latest company news
- Our new lead generation service!
- Schaeffler - latest company news
Browse by category
-
Capital Equipment (3,441)
- Capital Equipment (1)
- Compressors and Air Treatment (525)
- Electrical hardware (131)
- Electronics Manufacturing, Tools, Instruments (192)
- Machinery and Production Equipment (1,111)
- Manufacturing Machinery and Plant Equipment (468)
- Production line blowers and fans (66)
- Robotics, Handling and Storage (947)
- Consultancy and Services (911)
-
Control and Instrumentation (5,083)
- Cabling, Conduit, Signal Conditioning (810)
- CNC and Motion Controllers (187)
- Control and Instrumentation (2)
- HMIs/Operator Interfaces (295)
- Logic Controllers, Timers and Relays (96)
- Mid-range and Large PLCs (202)
- Plant- and Machine-Wide Communications (1,188)
- Plantwide control (1,340)
- Power Supplies, Uninterruptible Power (573)
- Smaller-Sized PLCs (390)
-
Drives, Motors and Controls (3,409)
- Drives, Motors and Controls (2)
- Industrial Drives/Controls (1,287)
- Industrial Motors (500)
- Linear Drives and Motors (117)
- Precision Motors and Gears (424)
- Stepper and Servo Drives, Motors, Controls (1,077)
-
Electrical and Electronic Equipment Design (4,222)
- Batteries, chargers and circuit protection (561)
- Connectors, Terminals, Busbars, Slip Rings (697)
- Electrical and Electronic Components (639)
- Electrical and Electronic Equipment Design (1)
- Electrical and Electronic Subassemblies (371)
- Enclosures and Equipment Cooling Fans (713)
- Knobs, Handles and Enclosure Hardware (426)
- PCs and Embedded Systems (814)
-
Engineering Design Software (6,264)
- 2D CAD software (202)
- 3D CAD software (1,165)
- CAM, CNC, production management software (574)
- Data, document management software (315)
- Electrical design software (165)
- Engineering Design Software (15)
- FEA and structural analysis software (374)
- File conversion software, data capture (356)
- Fluid, thermal, noise, vibration software (335)
- Materials design and moulding design software (152)
- Maths, charting, statistics, QA software (321)
- PLM and collaboration software (654)
- Process, instrumentation, automation software (264)
- Publishing and documentation software (233)
- Rendering, visualisation, styling software (203)
- Simulation, modelling, validation software (936)
-
Engineering Industry News, Resources (6,167)
- Electronic Resources for Engineers (278)
- Engineering Business News, Views (388)
- Engineering Conferences (433)
- Engineering Education, Resources, Standards (848)
- Engineering Exhibitions, Events (570)
- Engineering Guides, Newsletters (359)
- Engineering Industry Developments, Awards (636)
- Engineering Industry News, Resources (4)
- Engineering Industry Reports, Surveys (597)
- Engineering Recruitment, Employment (219)
- Engineering Seminars (406)
- Engineering Training Courses (450)
- Health and Safety Consultancy, Software (178)
- Health and Safety Events, Training, News (283)
- Health and Safety Legislation (403)
- Health and Safety Strategy, Risk Assessment (115)
- Machine Building (4,581)
-
Materials and Processing (3,007)
- Materials and components (2,247)
- Materials and Processing (5)
- Materials processing and testing (290)
- Rapid Prototyping (465)
-
Monitoring, Measurement and Quality (5,562)
- Data Acquisition Hardware and PC I/O Boards (481)
- Data acquisition Software and Communications (501)
- Data loggers (423)
- Electrical and Electronic Testing, PAT Equipment (636)
- Form/co-ordinate, optical, vision instruments (740)
- Gauges, Indicators and Instruments (447)
- Materials testing equipment (420)
- Monitoring, Measurement and Quality (1)
- Telecomms/network test equipment, software etc (157)
- Testing and Calibration Services and Information (512)
- Testing, analysing and monitoring equipment (1,244)
-
Powertrain Design (3,663)
- Bearings (964)
- Chains and belts (332)
- Gears, brakes, couplings and engines (1,458)
- Hydraulic Components (473)
- Lubricants (432)
- Powertrain Design (3)
-
Sensors (7,172)
- Accelerometers and Vibration Sensors (438)
- Barcode Sensors (103)
- Flowmeters and Flow Sensors (625)
- Gas, Chemical, Radiation, Magnetic Sensors (287)
- Humidity and Environmental Sensors (155)
- Level Sensors and Leak Detectors (531)
- Linear Position Sensors (408)
- Loadcells, Force Sensors, Torque Sensors (715)
- Pressure sensors (629)
- Proximity Sensors (708)
- Rotary Position, Tilt and Angular Sensors (554)
- Sensors (8)
- Temperature sensors (615)
- Vision and Colour Sensors (1,396)
- Small Mechanical Components, Joining, Tools (1,994)
- Valves, Pumps, Process Hardware (3,668)
