Midlands-based systems provider Biosite has secured £4 million of funding from equity investor Mobeus.

The investment will support the company's expansion plans to develop new site-management tools, which allow site managers to oversee all aspects of a construction project under their control.

Founded in 2010 by Managing Director Dr Li Wang and Research Director Dr Greg Reynolds, Biosite works with a number of large construction firms in the UK including Wates, Bouygues, Willmott Dixon and BAM Construction. As well as providing efficiency savings, Biosite assists its customers to meet safety and compliance requirements.

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Li Wang, Founder and MD said: "This is an exciting time for Biosite; we had a number of investment offers, but in Mobeus we believe we have found the right partner. We are looking forward to working together to capitalise on our growth opportunities."

Amit Hindocha from Mobeus, who will join the board of Biosite, added: "We are delighted to be partnering with Li and Greg. They have done an excellent job in establishing Biosite as one of the leading workforce management platforms in the construction industry and our funding will provide them with the capital needed to become the site management tool for the industry."

(LM)