May 1, 2019
Lawyers in Muckle LLP’s corporate team have helped Durham-based Fumarii Technologies complete a significant investment deal to develop and launch its new cloud platform and computers, which could revolutionise the technology industry.
Fumarii Technologies was founded by Durham University graduate Liam Gill. By using its cloud platform and technology to turn any screen into a supercomputer, the business aims to help individuals and small businesses access digital resources that are typically only available to large firms.
Among a range of products, the team is developing their Fumarii Cloud, which will allow people to remotely access supercomputers for a small monthly or hourly fee.
Unlike other cloud providers, however, Fumarii has made a concerted effort to lower the environmental impact of its system with the invention of the Fumarii NEO, a computer server that can capture and store the heat it produces.
Following two previous rounds of investment, the team has been able to develop the software and technical capability needed to build its first unit. With its latest injection of funds, Fumarii hopes to launch its revolutionary products to the market by the end of 2019.
Legal advice on the investment was provided by Harry Hobson and Adam Rayner at Muckle LLP.
The tech specialist North East law firm was introduced to Fumarii through its partnership with Sunderland Software City, which was established to develop world-class technology businesses across the North East and has been working closely with Muckle for over 12 months.
Harry says: “We’re delighted to help Fumarii achieve the funding they needed. These are considerable investments for a company of this size, which will help to revolutionise the technology industry.
“With the support of Sunderland Software City, the North East is already developing a reputation as a global leader in the digital and tech sector.
“Liam and the team at Fumarii have created something truly innovative and, with the backing of these recent investments, I’m sure this is the start of something incredibly exciting for the business, the sector and the region.”
Liam Gill, chief executive of Fumarii Technologies, adds: “Our work has the potential to provide millions of entrepreneurs and small business owners with the resources they need to survive in this digital world.
“From concept to design and manufacture, we’ve worked really hard over the last 20 months or so, and it’s fantastic to be able to receive these investments. We wanted to complete the latest investment within 24 hours and I was impressed with Muckle LLP’s ability and flexibility in delivering this on time, helping us to realise our vision.
“It means the world to us that our technology can have a role in new innovations for generations to come. No longer will a freelance artist be held back by their tools, or an architect or engineer stuck with outdated computing.
“We’re especially proud of the environmental and social benefits that our technology will bring. There genuinely is nothing like this on the market.”